Spanish Wells Fall Market Report
The community of Spanish Wells Golf & Country Club consists of 8 subdivisions, 7 of which are not bundled.
The apparent large increase in the Single Family median price in Q3 simply reflects the small number of sales in the summer months.
Pelican Landing Fall Market Report
Pelican Landing is a master planned community of 3,350 residences on over 2,300 acres, bordering Estero Bay on Florida’s Gulf Coast and accented by lakes and preserves.
The market saw consistent increases in median prices in the first 9 months of the year.
North Naples Fall Market Report
North Naples includes the area from Pine Ridge Road to the Lee County boundary just short of Bonita Beach Road. Sales saw a seasonal slowdown in the summer months, although median prices continued to rise.
East Naples Fall Market Reports
East Naples includes the areas to the East of Collier Blvd. The market saw consistent price growth through the first three quarters of 2021 in all categories, while sales saw a seasonal slowdown in the summer months.
Sterling Oaks Fall Market Report
Sterling Oaks is Southwest Florida’s premier tennis community. Located in North Naples, the community consists of 432 Single Family Homes and 304 Condos/Coach Homes in North Naples, Florida. Prices appreciated throughout the year (the Q3 Condo number is exaggerated by the very small number of sales.)
Naples Market Report by Location and Property Type
The market statistics produced by Realtor Boards provide a lot of useful information, but group together what to me are wholly different categories – e.g. Single Family and Manufactured.
Here then is what I hope will be a more useful and informative analysis, which shows the breakdown using the categories that make sense to me. I also include definitions of the different property types after the charts.
Single Family and Villas
Villas have HOAs, Single Family homes do not. And the price point tends to be different. Ergo, they should be analysed separately:
Foreign Buyers May Return in November
WASHINGTON – President Joe Biden will ease foreign travel restrictions into the U.S. beginning in November, when his administration will require all foreign nationals flying into the country to be fully vaccinated. Fully vaccinated passengers will not be required to quarantine.
In my recent market reports I wrote: “As buyers from more foreign countries are allowed to visit the US again, those buyers – who were largely absent last year – may well add further demand to an already extremely tight market.
As for the future what remains true is that “as it’s now possible to work from anywhere in the world, why not live and work in paradise?”
Traffic is starting to pick up in Southwest Florida as we see the first of the winter arrivals. If you are interested in buying please contact me to beat the rush!
Read these recent articles:
Naples Housing Market August Review
Mortgage rates back to 3% – again
Yes Virginia, it is Still a Sellers’ Market
Andrew Oliver
REALTOR®| Market Analyst | DomainRealty.com
Naples, Bonita Springs and Fort Myers
Andrew.Oliver@DomainRealtySales.com
m. 617.834.8205
www.AndrewOliverRealtor.com
www.OliverReportsFL.com
_____________
Market Analyst | Team Harborside | teamharborside.com
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
www.OliverReportsMA.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
South Naples August Market Report
South Naples includes the area bounded by 41, Davis Blvd and Collier Blvd. See map below.
In the first 8 months of 2021 the median price of the Single Family homes sold in South Naples increased 25% to $520,000 on a 66% increase in sales, while the median price of the Condos sold increased 13% to $249,000 on a 78% increase in sales.
Single Family
A rolling 12-month calculation represents the current month and the 11 months prior in a single data point
Central Naples August Market Report
Central Naples covers the area bounded by David Blvd, Goodlette-Franke, Pine Ridge and Collier Blvd.
In the first 8 months of 2021 the median price of the Single Family homes sold increased 29% to $465,250 on a 41% increase in sales, while the median Condo price increased 16% to $220,000 on more than doubled sales.
Single Family
Naples Housing Market August Review
The median price of Single Family homes in the Naples area* sold in the 8 months to August 2021 increased 32% to $585,000, while sales increased 40% to 5,394.
The median price of Condos sold in the 8 months to August 2021 increased 18% to $324,000, while sales jumped 77% to 6,265.
Keep reading for charts and more details: (more…)
Naples Beach August Market Report
Naples Beach covers the area mostly to the East of 41 from Port Royal to Pelican Bay ( see map below). As such it includes the most expensive real estate in the Naples area, as demonstrated by the charts below.
For the first 8 months of 2021 the median price of Single Family Homes sold in Naples Beach increased 43% to $2.13 million on a 46% increase in sales. The median Condo price increased 13% to $775,000 on a 94% increase in sales.
Single Family
Flood Insurance Changes Coming Oct 1
Changes are coming to the flood insurance policy sector taking effect October 1st on new policies and April 1, 2022 on any outstanding renewal policies. I will write further as more details are revealed but these are the highlights from the FEMA Risk Rating 2.0 announcement:
1. Flood zones and Elevation Certificates will no longer be a rating factor (Flood zones will still be present for mortgage purposes)
2. Elevation Certificates will no longer be needed to determine rate
3. No more preferred rate tables for X,B,C Flood zones
4. Flood Vents (2 openings on 2 walls on lowest level) will no longer provide significant savings
5. Machinery on ground floor will impact rate (ex:a/c, water heater, washer/dryers)
6. Grandfathering: Policyholders will still be able to transfer their discount to a new owner by assigning their flood insurance policy when their property changes ownership
7. FEMA will continue to offer premium discounts for pre-FIRM subsidized and newly mapped properties (ex: Zone X remapped to A Zone, rate from X can be grandfathered as long as there is no coverage interruption)
8. Replacement Cost Value will impact the rate (Historically, lower valued homes were paying more than they should and those that had higher value homes were paying less than they should)
FEMA “predicts the average rate increase will be about 10%.”
Click here to be directed to the flood insurance page on my website.
Naples August Housing Market Review
Bonita/Estero August Market Summary
Prediction: Lots of International Buyers Over the Next Year
Andrew Oliver
REALTOR®| Market Analyst | DomainRealty.com
Naples, Bonita Springs and Fort Myers
Andrew.Oliver@DomainRealtySales.com
m. 617.834.8205
www.AndrewOliverRealtor.com
www.OliverReportsFL.com
_____________
Market Analyst | Team Harborside | teamharborside.com
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
www.OliverReportsMA.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Bonita/Estero August Market Summary
Key takeaways: Single Family (SF) median price up 28% Year-to-Date (YTD) to $525,000 on 44% higher sales; YTD median Condo price YTD up 21.5% to $309,950 on 64% higher sales:
Please contact me to discuss the current market and see how I can help you in your search.
Naples August Housing Market Review
Prediction: Lots of International Buyers Over the Next Year
Andrew Oliver
REALTOR®| Market Analyst | DomainRealty.com
Naples, Bonita Springs and Fort Myers
Andrew.Oliver@DomainRealtySales.com
m. 617.834.8205
www.AndrewOliverRealtor.com
www.OliverReportsFL.com
_____________
Market Analyst | Team Harborside | teamharborside.com
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
www.OliverReportsMA.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Naples July Housing Market Review
These tables shows the breakdown of sales and median prices by area of Naples (see map below). What stands out is the consistency of the price increases throughout Naples over the last year, with median prices increasing from 29-34% for Single Families and a slightly wider 11-24% for Condos.
Please contact me to discuss the market and see how I can help you in your search.
Single Family (including Detached Villas)
The median price ranged from $465,000 in East Naples to $2.2 million in Naples Beach. Overall sales were up 49%.
Condos (including Townhouses and Attached Villas)
The median price ranges from $218,000 in Central Naples to $778,500 in Naples Beach. Overall sales jumped 91%.
Naples zipcode map
Andrew Oliver
REALTOR®| Market Analyst | DomainRealty.com
Naples, Bonita Springs and Fort Myers
Andrew.Oliver@DomainRealtySales.com
m. 617.834.8205
www.AndrewOliverRealtor.com
www.OliverReportsFL.com
_____________
Market Analyst | Team Harborside | teamharborside.com
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
www.OliverReportsMA.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
“If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of OliverReports.com. He’s assembled the most comprehensive analysis of Essex County we know of with market data and trends going back decades. It’s a great starting point for those looking in the towns of Marblehead, Salem, Beverly, Lynn and Swampscott.”
Naples July Housing Market Summary
The 3-month median price for Single Family Homes in the overall Naples area continued to rise sharply reaching $610,000 for the May-July period quarter, some 37% higher than a year ago:
While sales are seeing the familiar summer decline, they are doing so from a high level: (more…)