East Naples May Housing Market report
East Naples includes the areas to the East of Collier Blvd. See map below for details.
In the first 5 months of 2021 the median price of the 1,035 Single Family homes sold in East Naples was $460,000, and that of the 506 Condos $330,000.
Single Family
A rolling 12-month calculation represents the current month and the 11 months prior in a single data point
Overall Naples Housing Market in May
A tight inventory and buyer demand continued to push prices upward in May, resulting in an overall median closed price increase of 29.4 percent to $433,500 from $335,000 in May 2020. Note that May 2020 was the early stage of the COVID slump, so the size of the increase Year-over-Year is exaggerated.
Cash sales in May accounted for 58.4 percent of the closed sales transactions. Cash buyers continue to create challenges for competing buyers who require financing. It took an average of 90 days for a home to go from list to contract in May 2020, but in May 2021, the average days on the market was reduced to 43 days. Again, the YOY comparison is skewed because of COVID.
The May Market Report showed that overall closed sales increased 164.4 percent to 1,618 from 612 in May 2020 (a month when all the world was in COVID-19 lockdown). For perspective, closed sales increased 36 percent in May 2021 compared to May 2019 (a non-pandemic lockdown month). Nevertheless, closed sales
activity in May 2021 outperformed any other May in the history of NABOR®’s market statistics reports. (At the end of this article are market reports for the different geographic areas of Naples).
Overall inventory fell 79.1 percent in May to 1,290 homes from 6,177 homes in May 2020, but monthly new listings activity continues. May welcomed 1,274 new listings, a 7.6 percent increase from 1,184 in May 2020. New listings that come on the market each month help to temper the drop in overall inventory and provide more opportunities to eager buyers.
The monthly report from the Naples Area Board of REALTORS® (NABOR®) noted “monthly showing and sales activity is beginning to show signs of deceleration from the remarkable market experienced during the first quarter of 2021.”
Historically, the Naples housing market’s activity in the first half of the year is not sustained during the second half of the year. However, since tourism to Florida is expected to increase this summer and buyers from foreign countries may also begin to arrive in the coming months, a return to more normalized buying behavior in the second half of the year remains uncertain.
The following charts give a visual summary of market activity: (more…)
Bonita Springs-Estero May Housing Market review
In the first 5 months of 2021, the median price of the 1,063 Single Family homes sold in the Bonita-Estero area was $507,000, while that of the 1,223 Condo sales was $292,500.
Single Family
A rolling 12-month calculation represents the current month and the 11 months prior in a single data point.
Fort Myers May Housing Market report
The rolling 3-month median price (a more reliable guide than 1-month numbers) for Single Family Homes sold in Fort Myers reached $360,000, while the median Condo price was $205,000.
The following charts show the 12-month rolling figures for both median prices and sales in the Fort Myers market from January 2008 through May 2021 and clearly demonstrate the strength of both median prices and sales. (more…)
Are mortgage rates heading up or down?
For several years “experts” have been forecasting that mortgage rates were about to rise, but forecasts of an imminent end to low rates are reminiscent of Mark Twain’s alleged comment that reports of his death had been greatly exaggerated.
The 30-year Fixed Rate Mortgage (FRM) reached almost 5% in November 2018, but since then has been in an almost uninterrupted downward trend, with a few short-lived spikes upwards:
Which brings us to the question: is the next move going to be
Inflation (more…)
Naples market: preliminary May numbers
The market remained at or close to record levels in May as these charts show:
Single Family/Attached Villas
The preliminary median price was just under $600,000 in May, a tad below the April number:
Condos/Townhouses/Attached Villas
The median price continued upwards to $329,000 in May
Comment
Monthly figures, especially at the end of the traditionally strong winter market, can fluctuate and be less reliable a guide than those over a longer period.
Regardless of the actual numbers, the message is that the market continues to be strong with properties selling quickly. I have also noticed that some properties are under-priced while others are over-priced, hoping for an out-of-town buyer with less access to detailed statistics. You need a Realtor who is working actively for you. If you are ready to look seriously at properties please contact me for an analysis of properties meeting your requirements..
Naples rated No. 1 beach town to live in
Hello sub 3% mortgages – again
How to Win a Naples Smart Home plus Mercedes plus $100k Cash
Andrew Oliver
Sales Associate | Market Analyst | DomainRealty.com
REALTOR®
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 Market Summary in April
This graphic shows how strong the market was in April, but remember that the numbers compare with April 2020 when the pandemic was starting to affect the market:
For a more detailed look at the market read Naples housing market in April
How to Win a Naples Smart Home plus Mercedes plus $100k Cash
Naples rated No. 1 beach town to live in
Hello sub 3% mortgages – again
Andrew Oliver
Sales Associate | Market Analyst | DomainRealty.com
REALTOR®
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 housing market in April
The market in Naples continued to move strongly upwards in April as these charts show:
Single Family/Attached Villas
The median price jumped to $640,000 in April
Condos/Townhouses/Attached Villas
The median price reached $319,900 in April: (more…)
Arthrex’s North Naples campus qualifies as certified wildlife habitat
Recently, Arthrex was again recognized for its dedication to creating environmentally friendly workspaces when the Naples campus was designated a Certified Wildlife Habitat through the National Wildlife Federation and its Florida Wildlife Federation affiliate. The honor recognizes Arthrex for its commitment to sustainably providing the essential elements of the wildlife habitat.
When Arthrex and DeAngelis Diamond began to work on the construction of the global headquarters campus, care was taken to incorporate environmentally friendly aspects into the buildings and the campus. This includes the culvert, or buried canal, to preserve the waterway that crosses through the Arthrex global headquarters campus. This way, employees and guests will be able to enjoy expansive greenspace next to Arthrex One without disrupting the canal. The same goes for the Speedbridge, which was constructed over an existing waterway, allowing the habitat to be maintained for various plant, bird and fish species while helping employees and guests get from the Inc. building to the rest of the campus.
Bonita Springs March Market Report
A picture tells a thousand stories so 4 pictures must tell 4,000 stories:
Single Family
Condos
Comment
No surprises in that prices and sales are up while inventory is down.
What is perhaps surprising is the fact that prices remain below the peak levels seen before the Great Recession. Read How do prices in Southwest Florida compare with 2007/08? for more details.
Hello sub 3% mortgages – again
A Pre-Qualification Letter Doesn’t Equal Being Pre-Approved
How to Win a Naples Smart Home plus Mercedes plus $100k Cash
“Party on, dude” says the Federal Reserve
Andrew Oliver
Sales Associate | Market Analyst | DomainRealty.com
REALTOR®
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
Lover’s Key State Park Welcome Center to open May 15
The new Lovers Key Welcome and Discovery Center building is complete and the phase one exhibits have been installed. The center will open to the public on May 15. The facility will serve to educate and inform visitors to Lovers Key State Park.
The 2,100-square-foot exhibit hall features many different habitats in the park with interpretive and interactive displays. (more…)
Florida online shoppers to pay more
Gov. Ron DeSantis has signed into law a bill requiring out-of-state online retailers to collect sales taxes on purchases made by Floridians.
Southwest Florida International Airport Traffic Jumps
During March, 1,162,342 passengers traveled through Southwest Florida International Airport in Fort Myers. This was an increase of 35% compared to March 2020 and an increase of 60.2% increase compared to February 2021. Year-to-date, passenger traffic is down 20.4% compared to last year.
The traffic leader in March was Southwest Airlines, with 284,606 total passengers. Rounding out the top five airlines were Delta (182,846), United (146,494), American (135,886) and Spirit (127,161). Southwest Florida International Airport had 11,472 aircraft operations, an increase of 7.5% compared to March 2020.
Meanwhile, construction continues on a new $80 million Airport Traffic Control Tower, while the $280 million, 200,000-square-foot expansion of the airport terminal, a project that had been deferred for a year due to the impact of the pandemic, was schedule to be bid in April, according to Ben Siegel, executive director for the Lee County Port Authority.
Naples housing market – onwards and upwards
How to Win a Naples Smart Home plus Mercedes plus $100k Cash
Hello sub 3% mortgages – again
“Party on, dude” says the Federal Reserve
Andrew Oliver
Sales Associate | Market Analyst | DomainRealty.com
REALTOR®
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
Will the Housing Market Frenzy Die Down? That Depends on Sellers
The coronavirus pandemic raised the temperature considerably on the nation’s housing market. The past year has been marked by soaring prices, logic-defying offers over asking price, and steep competition as sellers have been hesitant to put their homes up for sale.
But the heart-pumping, bank account–depleting housing market frenzy could die down—at least a little—in the coming months as more sellers list their properties and inventory slowly increases. About 10% of current homeowners plan to put their homes on the market this year—and more than half are more affordably priced, according to an exclusive survey conducted by realtor.com®. An additional 16% expect to list their properties within the next two to three years.
Typically, only about 8% of homeowners put their homes up for sale a year. This is about a 25% anticipated increase, which translates into about 1.5 million more homes. The increase may be due to folks holding off on selling their homes during the worst of the coronavirus pandemic.
“There is a brighter light at the end of the tunnel for many weary buyers,” says Realtor.com Senior Economist George Ratiu.“In a market that right now only has close to half a million listings, a big boost in inventory can mean more choices for buyers and potentially a slowdown in price growth,” says Ratiu. He was quick to add that prices won’t drop, but the double-digit growth may taper off. “It’s signaling a return to normal for the economy and the housing market.”
Read the full article: Housing Market frenzy could cool for this reason
Naples housing market – onwards and upwards
Hello sub 3% mortgages – again
A Pre-Qualification Letter Doesn’t Equal Being Pre-Approved
“Party on, dude” says the Federal Reserve
Goodbye sub 3% mortgages
It’s 80 degrees in Florida….
Andrew Oliver
Sales Associate | Market Analyst | DomainRealty.com
REALTOR®
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