Why Is the Market White Hot? No, It’s Not the Pandemic

Today’s market problems – a shortage of affordable housing, historically tight inventory of homes for sale and rising prices – weren’t caused by the latest pandemic-caused economic slowdown. It goes back to the Great Recession.

Experts say the U.S. housing market was already being roiled by forces fueling the current housing-price explosion even before the pandemic.

Matthew Murphy at New York University’s Furman Center for Real Estate & Urban Policy said supply shortages were evident heading into the pandemic, adding that “the context here to this current housing moment is that we were still recovering from the 2008-2009 foreclosure crisis.”

Meanwhile, the National Association of Realtors® has been pointing to an “underbuilding gap” of between 5.5 and 6.8 million housing units since 2001. (more…)

Fort Myers June Housing Market Summary

The 3-month median price for Single Family Homes in Fort Myers continued to rise sharply, reaching $368,125 for the April-June quarter, some 25% higher than a year ago, and breaking decisively upwards from the $250-300,000 range of the previous 5 years:

Dramatic price movements often occur when the number of sales is small, but that has not been the case in Fort Myers, where sales have exceeded 1,000 per quarter for the last year:
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North Naples June Housing Market Summary

The 3-month median price for Single Family Homes in North Naples – the area from Pine Ridge Road to the Lee County boundary just short of Bonita Beach Road (see map below) covering zipcodes 34109,34110 and 34119 – continued to rise sharply, reaching $749,000 for the April-June quarter, some 35% higher than a year ago, and breaking decisively upwards from the $500-550,000 range of the previous 5 years:

Dramatic price movements often occur when the number of sales is small, but that has not been the case in North Naples, which has seen a major increase:
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East Naples June Housing Market Summary

The 3-month median price for Single Family Homes in East Naples – which includes the areas to the East of Collier Blvd.(see map below) covering zipcodes 34114, 34117, 34120 and 34137 – continued to rise sharply, reaching $476,500 for the April-June quarter, breaking strongly through the $400,000 level:


Dramatic price movements often occur when the number of sales is small, but that has not been the case in the whole Naples area, which has seen a major increase:

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Are you interested in buying a vacation home in the Naples area?

It is clear today that some homes are being priced at what is called an aspirational level. A good Realtor, however, will be able to guide you away from these. I am about to close on a house for a client in Southwest Florida for 17% less than the original, aspirational, list price.

This table shows the breakdown of sales and median prices by area of Naples (see map below). Please contact me to discuss the market and see how I can help you in your search for a vacation – or permanent – home.

Naples housing market

Click on these links for detailed market reports: (more…)

Naples Housing Market Summary by area

This table shows the breakdown of sales and median prices by area of Naples (see map below). Please contact me to discuss the market and see how I can help you in your search.

naples real estate market

Click on these links for detailed market reports: (more…)

North Naples May Housing Market report

North Naples includes the area from Pine Ridge Road to the Lee County boundary just short of Bonita Beach Road (see map below).

In the first 5 months of 2021 the median price of the 864 Single Family homes sold in North Naples was almost $720,000, while that of the 1,121 Condos sold was almost $306,000.

Single Family

A rolling 12-month calculation represents the current month and the 11 months prior in a single data point

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Central Naples May Housing Market report

Central Naples covers the area bounded by David Blvd, Goodlette-Franke, Pine Ridge and Collier Blvd.

In the first 5 months of 2021 the median price of the 415 Single Family homes sold was $436,000 and that of the 682 Condos sold $218,000

Single Family

A rolling 12-month calculation represents the current month and the 11 months prior in a single data point

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