NAPLES Q1 2025 MARKET REPORT

The median price of SFs and Villas sold in Q1 2025 reached record levels, while the median price of the Condos sold, while lower than in Q1 2024 was still higher than in the second half of 2024.Bear in mind that Q1 sales reflect contracts agreed in late 2024/early 2025, while market sentiment changed after that; it is likely that Q2 numbers will show a decrease.

PSF is another way of looking at the market. Q1 showed a nice cadence: $403 for SF, $351 for Villas and $307 for Condos. (more…)

BONITA SPRINGS Q1 2025 MARKET REPORT

For Bonita Springs overall, median prices were mixed in the 1st Quarter of 2025: SF higher than in Q1 2024, Villas and Condos lower. Sales continued to drop.

The median Price per Sq.Ft. was lower all round, while the pace of sales was back to pre-COVID days. (more…)

IMPERIAL GOLF ESTATES 2024 MARKET REPORT and 5-YEAR REVIEW

Median Price and Sales
The median price of the Single Family homes sold in Imperial Golf Estates (Imperial) has more than doubled since 2020, while sales recovered in 2024 from the slowdown in 2022 and 2023.
The median price of the small number of Villas sold in Imperial has continued to increase year by year, while sales have been at a consistent level.
The median price of the Condos sold in Imperial in 2024 showed a small decline, but sales were just half the 2023 level.
While Inventory has increased sharply from the extremely low levels of 2022/23, it is at the low end of the pre-COVID levels at the beginning of the season.


Price per Sq Ft (PSF) and Speed of Sales (Days to Offer Accepted – DTO)
(more…)

BONITA BAY MARKET 2024 MARKET REPORT and 5-YEAR REVIEW

Median Price and Sales
The median price of the Single Family homes sold in Bonita Bay more doubled from $1.1 million in 2020 to $2.5 million in 2022 and has been stable since.
Sales increased from 2019 to 2021, dropped back, and them increased in 2024.
The median price of the Villas sold in Bonita Bay has continued to increase year by year, and sales also increased last year,
The median price of the Condos sold in Bonita Bay has also continued to increase. On the surface, the median price jumped to $1.275 million in 2023, but the 41 sales at Omega boosted the median price. Without those sales, the 2023 median price would have been $820,000, meaning there was an underlying increase again in 2024. Excluding the Omega sales in 2023, the 2024 figure was steady.

While Inventory has doubled from the extremely low levels on 2022/23, it has returned to more normal levels at the beginning of the season.

Price per Sq Ft (PSF) and Speed of Sales (Days to Offer Accepted – DTO)
PSF is another way to look at prices.
The PSF has increased significantly in recent years, in line with median prices.
The pace of Sales quickened dramatically until 2022. 2024 presented mixed picture. (more…)

PELICAN BAY MARKET 2024 MARKET REPORT and 5-YEAR REVIEW

Median Price and Sales
The median price of the Single Family homes sold in Pelican Bay more doubled from $2.25 million in 2020 to $4.7 million in 2024.
Sales increased until 2021 and have since dropped back below pre-pandemic levels.
The median price of the Villas sold in Pelican Bay increased from $1.5 million in 2020 to $1.875 million in 2024, but declined from 2022/23 levels.
The number of sales increased in 2020/21, but has since dropped back to pre-pandemic numbers.
The median price of the Condos sold in Pelican Bay increased 45% from $750,000 in 2020 to $1.3 million in 2024, and was stable from 2022-24. Sales have also dropped sharply since 2021.

Price per Sq Ft (PSF) and Speed of Sales (Days to Offer Accepted – DTO)
PSF is another way to look at sales. (more…)

BONITA SPRINGS 2024 MARKET REPORT and 5-YEAR REVIEW

Median Price and Sales
The median price of the properties sold in Bonita Springs increased dramatically during the cheap money period after COVID. Single Family and Condo median prices increased almost 60% from 2020 to 2022, while Villa median prices increased by 90%.

Prices have been more stable in the last 2 years. There are always quarterly fluctuations in real estate sales and median prices. In Southwest Florida that can be exacerbated by the seasonal nature of the market. Many of the more expensive properties are bought by people wintering here and thus – except during the post COVID rush – median prices are often strongest during the winter months.

If prices fall during the second half of a year, it is hard to tell whether that decline reflects just the lower price of the properties that did sell, or a reduction in actual prices. What can be said in early 2025 is that attorneys report a pick-up in activity after the Election, which removed an uncertainty, and agents are reporting that Open Houses in early January have been very busy.

Overall sales – of all property types – surged until around Q3 2021, and then almost halved from 2021 to 2024, when they were at the lowest since 2009.
(more…)

NAPLES 2024 MARKET REPORT and 5-YEAR REVIEW

Median Price and Sales
The median price of the properties sold in Naples increased dramatically during the cheap money period after COVID. Single Family median prices increased almost 60% from 2020 to 2022; Villa and Condo median prices by two-thirds.

Prices have been more stable in the last 2 years. There are always quarterly fluctuations in real estate sales and median prices. In Naples that can be exacerbated by the seasonal nature of the market. Many of the more expensive properties are bought by people wintering in Naples and thus – except during the post COVID rush – median prices are often strongest during the winter months.

If prices fall during the second half of a year, it is hard to tell whether that decline reflects just the lower price of the properties that did sell, or a reduction in actual prices. What can be said in early 2025 is that attorneys report a pick-up in activity after the Election, which removed an uncertainty, and agents are reporting that Open Houses in early January have been very busy.

Overall sales – of all property types – surged until around Q3 2021, and then halved from 2021 to 2024, when they were at the lowest since 2010.
(more…)

How’s the market in February 2025?

This table shows median prices for all types of property sold in Naples month by month since 2020. There are a couple of outliers, but in general median prices have been in the $600-650,000 range. January 2025 was a little higher at $675,000.

This table shows Active Listings divided by Sales in the last 12 months. The Months of Inventory number means how long it would take to sell the current inventory based upon the rate of sales in the previous year.Generally ,in real estate, 6 months of supply is regarded as a market in equilibrium between buyers and sellers: a higher number favours buyers, a lower number sellers.

Southwest Florida is, of course, a seasonal market. The following chart shows that sales – which typically occur 6-8 weeks after a contract is signed – are at their highest in March-May, and lowest in October – January. Which makes sense. Inventory is highest in the early months, drops in the summer, and then picks up as we get towards the next season.

Comment
Anecdotal stories are intriguing, but often very selective. I try to present the actual numbers as a basis for making informed decisions by both sellers and buyers.

Andrew.Oliver@Compass.com

AndrewOliverRealtor.com

 

NAPLES Q1 2024 MARKET SUMMARY

For Naples overall, median prices were broadly stable in the 1st Quarter of 2024, while sales dropped a little from 2023 levels.

A similar, stable trend was seen in the median Price per Sq.Ft., while sales were a little slower.
(DTO- Days To Offer – the number of days a property is listed before an accepted offer is received.)

Please contact me for a market report that includes properties in your area which were recently listed or sold.

Andrew.Oliver@Compass.com

AndrewOliverRealtor.com

Florida Home Values Skyrocket

The national median home price is twice what it was ten years ago. Molded by a storm of inflation, tight supply and surging demand, the average home price in the U.S. went from around $200,000 to $400,000, according to a new study from Point2.

However, in Florida, it took much less than a decade for home prices to achieve a twofold increase.

Average home values across Florida have undergone a seismic transformation, doubling in value within the short span of just six years. This surge, saw Miami’s average home price soar from around $290,000 in 2018 to the current median of $583,000. In Tampa, homes went from $213,500 in 2018 to $430,000.

For their study, analysts looked at historical data to calculate how many years it took for home prices in the 100 largest U.S. cities to double — and Tampa tied with Miami for having the third fastest price doubling among the country’s largest cities.

The trend of rapid price doubling extended to other big Florida cities, with home prices in St. Petersburg, Orlando and Jacksonville, increasing twofold in the past six to eight years.

Median home prices in St. Petersburg doubled within 6.6 years. In Orlando home prices doubled within 7.5 years — and in Jacksonville it took 7.9 years to see a twofold increase.

The research notes that, “Fluctuating mortgage rates, steep property prices, or supply deficits are no new challenges. But they have never unleashed such a rapid-fire onslaught on homebuyers in the U.S. as they have in today’s housing market.”

Among the top 10 states attracting new construction buyers, Florida draws significant attention, with approximately one in every eight new construction buyers opting to purchase their homes in the Sunshine State. In November, the U.S. Census Bureau reported that for the year, more than 1.5 million new residential construction projects broke ground across the state — a 9.3% increase from the year prior. (Florida Realtors).

According to my research, Naples was a little closer to the national average, taking around 8 years for prices to double :

  • Andrew Oliver, M.B.E., M.B.A.
    Real Estate Advisor
    Andrew.Oliver@Compass.com
  • AndrewOliverRealtor.com

m 617.834.8205

                                                                        Licensed in Florida and Massachusetts

 

 

Bay Forest Open Houses this weekend – PRICE REDUCED

I am hosting two Open Houses in Bay Forest this weekend. Bay Forest has long been a popular community West of 41, between Wiggins Pass and Bonita Beach Road.
The exciting news is that construction of the new $4.5 million Boardwalk has begun. (The seller will pay the final assessment)

Go HERE to see the video and photos for 15405 Cedarwood Ln, 101:
15405 Cedarwood Ln, Unit 101: 2 bed +Den, 2 bath, 1377 Sq Ft: now $370,000
(Bermuda Bay 1)
Saturday: 1:00 – 3:30 PM
Sunday: 1:00 – 3:30 PM

Go HERE to view the Bay Forest website, read the latest Newsletter, and watch the 4-minute video of Bay Forest.

Go HERE to see the video and photos for 325 Carinosa Court;
325 Carinosa Court: 3 bed +Den, 3 bath, 2066 Sq Ft: $725,000 UNDER CONTRACT

Contact me for a private showing:

  • Andrew Oliver, M.B.E., M.B.A.
    Real Estate Advisor
    Andrew.Oliver@Compass.com
  • AndrewOliverRealtor.com

m 617.834.8205

                                                                        Licensed in Florida and Massachusetts