BAY FOREST OPEN HOUSES
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 sellers of both these properties will pay the final assessment)
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;
Open Houses:
325 Carinosa Court: 3 bed +Den, 3 bath, 2066 Sq Ft: $725,000
Saturday: 12-2.45 PM
Sunday : 12-2.45 PM
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: $385,000
(Bermuda Bay 1)
Saturday: 2:45 – 4:15 PM
Sunday: 2:45 – 4:15 PM
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
BAY FOREST CONDO – GROUND FLOOR END UNIT-OPEN HOUSE TODAY 1-4 PM
Location: West of Hwy 41 on Vanderbilt Drive, N Naples Welcome to your coastal retreat in the serene community of Bay Forest! This ground floor end unit in Bermuda Bay 1 – 15405 Cedarwood Ln, unit 101 -offers convenience and tranquility. With 2 bedrooms plus a den and 2 bathrooms, this home is perfect for those seeking comfort and space. The private courtyard and direct access from the deeded carport make everyday living a breeze – no more lugging groceries through parking lots! New tile roof (2021), brand new A/C, boardwalk construction about to start (seller will pay assessment). (more…)
PELICAN BAY 2023 MARKET REPORT and 5-YEAR REVIEW
Click PELICAN BAY 2023 MARKET REPORT and 5-YEAR REVIEW to download a copy of this report.
Median Price and Sales
The median price of the Single Family homes sold in Pelican Bay more than doubled from just $1.8 million in 2019 to $3.9 million in 2023.
Sales increased from 2019 to 2021 and have since dropped back below pre-pandemic levels. The last SF sale in Pelican Bay was in September 2023.
The median price of the Villas sold in Pelican Bay almost doubled from $1.1 million in 2019 to $2.1 million in 2023.
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 increased 45% from $860,000 in 2019 to $1.25 million in 2023. Sales doubled from 2019 to 2021, and have since returned to 2019 levels.
Single Family Sales by Price
Another way to look at sales is the distribution by price. In 2019, 73% of Single Family sales were under $3 million and by 2023 that had dropped to just 11%. Conversely, the share of sales over $3 million went from 27% to 89% in the same period. (more…)
BAY FOREST 2023 MARKET REPORT and 5-YEAR REVIEW
Click BAY FOREST 2023 MARKET REPORT and 5-YEAR REVIEW to download a copy of this report.
Median Price and Sales
The median price of the properties sold in Bay Forest increased 77% from $268,000 in 2019 to $475,000 in 2023. Sales doubled between 2019 and 2021, and dropped back again in 2022 and 2023.
Sales by Price
Another way to look at sales is the distribution by price. In 2019, 74% of sales were under $300,000 and there were none under $300,000 in 2022 and 2023. Conversely, the share of sales over $500,000 went from zero to 44%
Bay Forest sees a small number of sales each year at quite a wide range of price: in 2023, from $320,000 to $790,000.
The combination of small number of sales and wide range of prices can make median prices less reliable as a guide to the overall market in Bay Forest. (more…)
IMPERIAL GOLF ESTATES 2023 MARKET REPORT and 5-YEAR REVIEW
Click IMPERIAL GOLF ESTATES 2023 MARKET REPORT and 5_YEAR REVIEW to download a copy of this report.
Median Price and Sales
The median price of the Single Family homes sold in Imperial Golf Estates more than doubled from $515,000 in 2019 to $1.1 million in 2023. Sales increased modestly until Q3 2021, and then dropped sharply to below pre-pandemic levels in 2022 and 2023
The median price of Villas (attached and detached) sold increased 65% from $315,000 in 2019 to $519,000 in 2023. The number of sales is quite small and shows some fluctuations during these years.
The median price of Condos (and Townhouses) increased 62% from $222,000 in 2019 to $360,500 in 2023, a small declined from the 2022 level. Sales in 2022 and 2023 dropped back to their pre-pandemic level.
Single Family Sales by Price
Another way to look at sales is the distribution by price. (more…)
PELICAN MARSH 2023 MARKET REPORT and 5-YEAR REVIEW
This report analyses the Median Price and Sales per quarter since 2019, along with the Sales by Price point, Price per Sq.Ft., and the Days properties were on the market before receiving an offer (DTO). Median numbers are used in all calculations.
Click PELICAN MARSH 2023 MARKET REPORT and 5-YEAR REVIEW to download a copy of this report.
If you are thinking of selling, please contact me for a current market analysis for your property. With little supply, and the prospect of lower interest rates in 2024, this could be a good time to sell.
Median Price and Sales
The median price of the Single Family homes sold in Pelican Marsh more than doubled from $825,000 in 2019 to $2.2 million in 2023. Sales surged until around Q3 2021, thereafter returning to pre-pandemic levels and below.
The median price of the Condos sold increased by 74% from $419,000 in 2019 to $775,000 in 2022, before easing to $730,000 in 2023. Sales following a similar pattern to that for SFs.
Single Family Sales by Price
Another way to look at sales is the distribution by price. In 2019, 55% of Single Family sales were under $1 million and by 2023 that had dropped to just 3%. Conversely, the share of sales over $2 million went from 4% to 58% in the same period. (more…)
BONITA BAY MARKET 2023 MARKET REPORT and 5-YEAR REVIEW
This report analyses the Median Price and Sales per quarter since 2019, along with the Sales by Price point, Price per Sq.Ft., and the Days properties were on the market before receiving an offer (DTO). Median numbers are used in all calculations.
Click BONITA BAY 2023 MARKET REPORT and 5-YEAR REVIEW to donwload a copy of this report.
Median Price and Sales
The median price of the Single Family homes sold in Bonita Bay more doubled from just under $1.2 million in 2019 to $2.5 million in 2022 and 2023.
Sales increased from 2019 to 2021 and have since dropped back below pre-pandemic levels.
The median price of the Villas sold in Bonita Bay increased more than 90% from $554,100 in 2019 to over $1 million in 2023.
The number of sales has fluctuated in recent years, but the overall number is quite small.
The median price of the Condos sold in Bonita Bay more than doubled from just under $500,000 in 2019 to $831,000 in 2022. 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, still an increase of 67%.
Single Family Sales by Price
Another way to look at sales is the distribution by price. In 2019, 43% of Single Family sales were under $1 million and by 2023 that had dropped to just 6%. Conversely, the share of sales over $2 million went from 11% to 60% in the same period.
Villa Sales by Price
In 2019, 84% of Villa sales were under $750,000, dropping to just 14% in 2023. The biggest increase came in sales over $1 million, which went from 11% in 2019 to 55% in 2023.
Condo Sales by Price
In 2019, 51% of all Condo sales were under $500,000 and that dropped to just 3% in 2023. Sales over $1 million went from 26% of the total in 2019 to 58% in 2023.
Price per Sq Ft (PSF) and Speed of Sales (Days to Offer Accepted – DTO)
PSF is another way to look at sales.
The PSF:
almost doubled for SFs, from $329 in 2019 to $641 in 2023; (more…)
BONITA SPRINGS 2023 MARKET REPORT and 5-YEAR REVIEW
This report analyses the Median Price and Sales per quarter since 2019, along with the Sales by Price point, Price per Sq.Ft., and the Days properties were on the market before receiving an offer (DTO). Median numbers are used in all calculations.
Click BONITA SPRINGS 2023 MARKET REPORT and 5_YEAR REVIEW to download a copy of this report.
Median Price and Sales
The median price of the Single Family homes sold in Bonta Springs increased more than 80% from $409,900 in 2019 to $750,000 in 2023. Sales surged until around Q3 2021, thereafter returning to pre-pandemic levels in 2022 and 2023.
The median price of Villas (attached and detached) sold increased almost 80% from $308,500 in 2019 to $552,500 in 2023. Sales followed a similar pattern to that for SF. The decline was greater – but on a small number of sales.
The median price of Condos (and Townhouses) increased 85% from $259,000 in 2019 to $480,000 in 2023. Sales in 2023 dropped to a little below the pre-pandemic number.
Single Family Sales by Price
Another way to look at sales is the distribution by price. (more…)
NAPLES 2023 MARKET REPORT and 5-YEAR REVIEW
This report analyses the Median Price and Sales per quarter since 2019, along with the Sales by Price point, Price per Sq.Ft., and the Days properties were on the market before receiving an offer (DTO). Median numbers are used in all calculations.
Click NAPLES 2023 MARKET REPORT and 5_YEAR REVIEW to download a copy of this report.
The numbers have been dramatic over the last few years, for all the well-known reasons. With the market returning to more normal conditions, pricing and condition are again important. If you are thinking of selling, please contact me for a current market analysis for your property.
Median Price and Sales
The median price of the Single Family homes sold in Naples increased almost 90% from $425,000 in 2019 to $800,000 in 2023. Sales surged until around Q3 2021, thereafter returning to pre-pandemic levels in 2022 and to a much lower level in 2023.
The median price of Villas (attached and detached) sold increased 80% from $305,000 in 2019 to $550,000 in 2023. Sales followed a similar pattern to that for SFs until 2023, when they saw only a slight decline from 2022.
The median price of Condos (and Townhouses) almost doubled from $250,000 in 2019 to $494,000 in 2023, driven by the sharply increased share of sales over $500,000. Sales in 2023 also dropped to below the pre-pandemic number.
Single Family Sales by Price
Another way to look at sales is the distribution by price. In 2019, 62% of Single Family sales were under $500,000 and by 2023 that had dropped to just 14%. Conversely, the share of sales over $1 million went from 15% to 38% in the same period.
Villa Sales by Price
In 2019 50% of Villa sales were under $250,000 – and just 5% of sales in 2023. Conversely, the share over $500,000 more than doubled from 21% in 2019 to 49% in 2023.
Condo Sales by Price
The share of Condo sales under $250,000 dropped from 21% in 2019 to virtually zero in 2023. Meanwhile, the share of sales over $500,000 went from 15% in 2019 to 59% in 2023.
Price per Sq Ft (PSF) and Speed of Sales (Days to Offer Accepted – DTO) (more…)
More Properties Listed, Supply Still Short
The recent pullback in mortgage rates is spurring more homeowners to put their homes up for sale, though the increases so far have been too modest to return the housing market’s inventory of available properties back to pre-pandemic levels.
The number of active listings, a tally of U.S. homes on the market that excludes those pending a finalized sale, climbed 4.9% to 714,176 in December from a year earlier, the biggest annual increase since June, according to data released this week by Realtor.com.
A big part of the increase was due to a 9.1% jump in new listings, or properties that made their market debut in December, which posted an annual increase for the second time after 17 months of declines.
As is typically the case, active listings declined in December from the previous month, falling 5.5%. But the drop was less than the typical decline of 6.8% to 13.2%, Realtor.com said.
While the pickup in home listings is a welcome development for prospective homebuyers, the housing market remains constrained with for-sale inventory still well below pre-pandemic levels.
Consider that active listings were down 30.9% in December compared to the same month in 2019, while new listings were down nearly 12%.
Housing economists expect that the average rate will continue to decline this year, though forecasts generally see it moving no lower than 6%.
That may not be enough to motivate many homeowners to sell, given that some two-thirds of U.S. homes have a mortgage with a rate under 4% and more than 90% have a rate below 6%.
That means the upcoming spring homebuying season is likely to favor sellers as homebuyers compete for a relatively limited number of homes for sale. (Florida Realtors)
And read these articles:
Why Mortgage Rates will fall in 2024
Transitory inflation? Recession? What else will forecasters get wrong?
More insurers coming to Florida
- Andrew Oliver, M.B.E., M.B.A.
Real Estate Advisor
Andrew.Oliver@Compass.com - AndrewOliverRealtor.com
m 617.834.8205
INFLATION and RECESSION UPDATE
This time last year, stocks were still in the gutter, inflation was in the stratosphere and Fed interest rates were going up, up, up. Today the S&P 500 has risen 17% since Jan. 1, the much-anticipated recession has yet to arrive, unemployment remains below 4% and consumers are still spending–Walmart, Target, and Gap all beat expectations this week.
Inflation has dropped to around 3%, not too far off the Fed’s 2% target. Walmart CEO Doug McMillon was talking about deflation in the coming months. Oil prices are below $75 a barrel, Airfares are significantly cheaper this year than they were for the holidays last year. Bond yields are dropping, too, as traders start to price in Fed rate cuts next year. The 10-year yield has dropped back to around 4.4% from as high as 5% in October. (Barrons)
On Thursday, Walmart CEO Doug McMillon said deflation could be coming as general merchandise and key grocery items, such as eggs, chicken and seafood get cheaper.
He said the retailer expects some of the stickier higher prices, such as the ones for pantry staples, to “start to deflate in the coming weeks and months,” too.
“In the U.S., we may be managing through a period of deflation in the months to come,” he said on the company’s Thursday earnings call. “And while that would put more unit pressure on us, we welcome it, because it’s better for our customers.”
“I think the most important observation we’ve made is that the worst of the inflationary environment is behind us,” Hone Depot, Chief Financial Officer Richard McPhail
The question now is whether the Federal Reserve, having been extremely slow to start raising rates and reversing Quantative Easing, will be similarly late in easing. The Fed claims to be data dependent, but data tells us what happened in the past – and the Fed’s actions impact the future.
“The Fed must lower rates to cause money suply to grow by 5% per year, consistent with the 2% inflation target.If the Fed waits until core inflation is 2% we could have a recession.”(Jeremy Siegel, Wharton)
And read these articles:
Why Mortgage Rates will fall in 2024
Transitory inflation? Recession? What else will forecasters get wrong?
More insurers coming to Florida
Core Inflation Prices Barely Budged in August
August Housing Market: Median Prices Rise Year on Year
Market Reports
BAY FOREST Q3 MARKET REPORT 2019-2023
BONITA BAY Q3 MARKET REPORT 2019-2023
IMPERIAL GOLF ESTATES Q3 MARKET REPORT 2019-2023 (more…)
BONITA BAY Q3 MARKET REPORT 2019-2023
The median price of the Single Family homes sold in Bonita Bay doubled from just under $1.2 million in 2019 to $2.5 million in 2022. YTD Q3 2023 the median price declined slightly from $2.7 million to $2.5 million, but the number of sales was small in both years.
Sales increased until around Q3 2021, thereafter returning to pre-pandemic levels and below.
The median price of the Villas sold in Bonita Bay increased more than 50% from $554,100 in 2019 to $862,500 in 2022. YTD Q3 2023, the median price has increased a further 15% to almost $1 million.
The number of sales has fluctuated in recent years, but the overall number is quite small.
The median price of the Condos sold in Bonita Bay increased 70% from just under $500,000 in 2019 to $831,000 in 2022. On the surface, the median price jumped to $1.1 million YTD Q3 2023, but the 31 sales at Omega boosted the median price. Without those sales, the YTD Q3 median price would be $794,000, a drop of some 6% from the YTD Q3 2022 level, when there were no sales at Omega.
This report analyses the Median Price and Sales per quarter since 2019, along with the Sales by Price point, Price per Sq.Ft., and the Days properties were on the market before receiving an offer (DTO).
Median numbers are used in all calculations.
Click on BONITA BAY MARKET REPORT 2019_2023 to read the full report.
And read these articles:
More insurers coming to Florida
Core Inflation Prices Barely Budged in August
August Housing Market: Median Prices Rise Year on Year (more…)
IMPERIAL GOLF ESTATES Q3 MARKET REPORT 2019-2023
The median price of the Single Family homes sold in Imperial Golf Estates (“Imperial”) doubled from $515,000 in 2019 to over $1 million in 2022. YTD Q3 2023 the median price increased further to $1.2 million.
Sales increased until Q2 2021, thereafter dropping below pre-pandemic levels.
The median price of the Villas increased nearly 50% from $315,000 in 2019 to $465,000 in 2022. The YTD Q3 2023 median price was $539,500, in line with Q4 2022. The number of sales was low, but fairly steady over the years.
The median price of the Condos sold increased by over 70% from $222,000 in 2019 to $386,000 in 2022, before slipping slightly in 2023. Sales increased in 2020/21 before returning to 2019 levels.
This report analyses the Median Price and Sales per quarter since 2019, along with the Sales by Price point, Price per Sq.Ft., and the Days properties were on the market before receiving an offer (DTO).
Median numbers are used in all calculations.
Click on IMPERIAL GOLF ESTATES MARKET REPORT 2019_2023 to read the full report.
And read these articles:
More insurers coming to Florida
Core Inflation Prices Barely Budged in August
August Housing Market: Median Prices Rise Year on Year (more…)
Core Inflation Prices Barely Budged in August
While inflation rose 3.5% year-to-year in Aug. – still above the Fed’s 2% goal – it was only up 0.1% month-to-month after backing out higher gas prices.
Core inflation slows
But excluding the volatile food and gas categories, “core” inflation rose by the smallest amount in almost two years in August, evidence that it’s continuing to cool. Fed officials pay particular attention to core prices, which are considered a better gauge of where inflation might be headed.
Core prices rose just 0.1% from July to August, down from July’s 0.2%. It was the smallest monthly increase since November 2021.
Compared with a year ago, (more…)
August Housing Market: Median Prices Rise Year on Year
Florida’s statewide median sales price for single-family existing homes in August was $415,000, up 2% from the same month a year ago, while the statewide median price for condo-townhouse units was $324,000, up 6.2% over the August 2022 figure. The median is the midpoint; half the homes sold for more, half for less.
“Prospective buyers continue to be drawn to Florida’s lifestyle, climate and job opportunities. Persistently higher mortgage rates and a restricted for-sale inventory are hampering sales activity. However, as our housing prices continue to stabilize and interest rates hopefully moderate, we expect conditions to return to a more balanced market with more options for buyers and sellers.”
On the supply side of the market, single-family existing homes ticked up slightly to reach a 3-months’ supply in August while condo-townhouse properties rose to a 3.8-months’ supply. (more…)