Luxury Home Prices Gain Momentum 2018

Collier County is the second-fastest-growing luxury real estate market in the country, according to a study from Realtor.com. The study looked at the entry-level prices for the top 5 percent of home sales in April for 91 markets. The Naples area saw 15.9 percent year-over-year growth, coming in just behind Sarasota. According to the report: “In particular, Sarasota and Collier counties have been accelerating rapidly, with entry-level luxury prices now up 15 to 20 percent year-over-year. The median days on market of luxury properties in these two counties combined is now 143 days, down 22 percent year-over-year on average. In Sarasota, luxury prices have crossed the $1 million mark for the first time.” (Naples had an entry point of $1.67 million.)