Aqualane Shores is a quaint residential area between the glistening waters of the Gulf of Mexico and Naples Bay. With stunning beaches on one side and deep-water channels on the other, Aqualane Shores is perfect for those who enjoy the outdoors.
Founded in 1949, Aqualane Shores has a reputation for being "The friendliest neighborhood in Naples
." Aqualane Shores offers community activities, which enable residents to mingle with neighbors and make friends.
Residents can easily access quaint shops, delectable dining, and other amenities. Third Street South
offers a variety of cafes, coffee shops, and enough stores and spas to spoil anyone. Visit the historical area of the illustrious Fifth Avenue South
for year-round events, concierge services, and more. No matter what luxury appeals to you, you'll find what you seek within the Aqualane Shores neighborhood.
Whether you're shopping or enjoying the warm Florida temperatures, Aqualane Shores is a luxurious neighborhood with an abundance of things to offer its residents. If you want to be a part of the Aqualane Shores neighborhood, it's important to discover all you can about the area before you move. Walter T. Patrick
is here to help you on your journey.
Aqualane Shores' current housing market 2023
In Aqualane Shores, it's all about the prestige of owning a piece of paradise, which is reflected in the housing market. Homes on luxurious properties offer all the amenities that homeowners may require.Washington Examiner
reports that the Naples housing market is flourishing with new construction. This trend proves that Florida is defying the recession that other areas are struggling with. Aqualane Shores is also seeing abundant growth in remodels.
Lowering interest rates
The good news for Florida is that mortgage interest rates are steadily declining
. According to Bankrate
, the current interest rates are 7.42% for a 30-year fixed mortgage and 6.60% for a 15-year fixed mortgage. However, what is available to you may vary based on:
The type of loan you want
Florida offers a variety of programs to help people get the home they want. VA loans, FHA loans, conventional mortgage loans, and first-home buyer programs are just a few. You should speak to a lender to see which loans you may qualify for and which may offer the most affordable rates.
Your financial situation
Often, to get the best interest rates, you must have a higher FICO score. A FICO score of at least 620 and a credit score of 740 or higher would be helpful for conventional mortgages, potentially reducing your interest rates.
Your down payment amount
The more money you can add, the better you'll come out when talking about mortgage loans and down payment amounts. Adding more money to your down payment will reduce the amount that the bank must give you, lowering your monthly payments. It may also prevent you from needing to pay more for Private Mortgage Insurance (PMI). Considering the average for PMI ranges from 0.22% to 2.25%
, it could save you a fair amount on your home loan to avoid it, if possible.
How COVID-19 affected the Aqualane Shores real estate market
According to FloridaReators.org
, Florida has seen a massive influx of residents, reaching the highest level in two years. earning it the highest increase of any state on the East Coast. This is higher than pre-COVID or Ian, proving they didn't negatively affect the area's popularity for home buyers. News Nation Now
also reported in 2022 that despite property values rising, Florida was still gaining new residents.
Increasing home values in Aqualane Shores
In Collier County, property taxes are currently about 50.35% and housing costs have gone up by approximately 35.16%. According to Naples Daily News
, home purchase prices alone rose approximately 16.8% county-wide. On June 1, the preliminary tax roll for 2023 was released. It estimates that if you add in the new construction, property values further increase to about 18.5%.
In the last year alone, property values have increased from $185.3 billion in 2022 to over $219.6 billion in 2023. That's a pretty drastic climb in a short time, boding well for those who wish to invest in property now.
To further emphasize the investment potential in Aqualane Shores, you should consider how there are approximately 2,413 residents living in this neighborhood right now. With Florida, as a whole, going through a supply and demand struggle right now, there are fewer homes and less available space for the people who want to move in. Aqualane Shores, if you can get in on a piece of property, provides you with a great opportunity for the luxurious lifestyle everyone seeks, now and in the future.
Aqualane Shores home prices 2023
Homes within Aqualane Shores have an asking price of nearly $7 million for a single-family, small luxury home. As for small-scale homes, there aren't many within Aqualane Shores. To further emphasize this fact, many unimproved lots have a price point near that amount.
The more high-end a property is, the more you'll need to pay for the privilege of living in Aqualane Shores. Therefore, many available properties hit the market with an asking price of around $20 million.
Aqualane Shores Real estate market: what lies ahead in 2024
Based on the predictions of Wallet Investor
, the housing market within Naples will continue to grow in value. They report that the median home value in Naples is $366,850, and within the next five years, it will grow to $401,454.
People will always seek a luxurious, coastal lifestyle. More people will continue to come to Florida in search of paradise. Therefore, we can expect property values to continue to rise into and well beyond next year.
Property in Aqualane Shores is highly sought after because it's near downtown Naples, has easy beach access, and is an excellent spot for boats. Therefore, investing in Aqualane Shores property could bring you a significant return if you sell or rent it later.
Secure your luxury property today!
Aqualane Shores has all the benefits of suburbia, only better. As a resident, you'll embrace a high-end lifestyle and be surrounded by friendly neighbors.
While property values are high, and we expect them to climb higher, it's a great time to invest in your future. We're here to help you, whether you have questions to ask or you're ready to begin your search for the perfect home.
Walter T. Patrick specializes in helping home buyers find the luxury home they have longed for within the lovely Aqualane real estate market. Now that you know the historical trends and future predictions, please get in touch
with us to help you find your dream space.
*Header photo courtesy of Shutterstock