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.
Naples area Fall Market Reports
Here are links to my Fall Market Reports:
North Naples Fall Market Report
South Naples Fall Market Report
East Naples Fall Market Reports
Central Naples Fall Market Report
Naples Beach Fall Market Report
Sterling Oaks Fall Market Report
Pelican Bay Fall Market Report
Imperial Golf Estates Fall Market Report
Naples zip code map
Yes Virginia, it is Still a Sellers’ Market
Foreign Buyers May Return in November
Mortgage rates back to 3% – again
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 Beach Fall Market Report
Naples Beach covers the area mostly to the East of 41 from Port Royal to Pelican Bay and includes the most expensive real estate in the Naples area. The decline from Q2 to Q3 reflects the absence of high end buyers in the summer months.
South Naples Fall Market Report
South Naples includes the area bounded by 41, David Blvd and Collier Blvd. Sales and the Single Family median price eased a little from Q2 to Q3, reflecting the seasonal slowdown in the summer months.
Imperial Golf Estates Fall Market Report
The Greater Imperial communities in Naples have 13 residential communities and a 36- hole Golf Club (membership separate from residential ownership) within its boundaries.
The market saw consistent growth through the first three quarters of 2021 in all categories, while sales saw a seasonal slowdown in the summer months
Central Naples Fall Market Report
Central Naples covers the area bounded by David Blvd, Goodlette-Franke, Pine Ridge and Collier Blvd. The market saw consistent growth through the first three quarters of 2021 in all categories, while sales saw a seasonal slowdown in the summer months.
Bay Forest Fall Market Report
Located on 150 acres of spectacular natural beauty bordering the back waters of the Gulf, the 17 communities of Bay Forest provide a quiet and peaceful setting.
Condo sales jumped sharply in the first 9 months of 2021, while the median price rose more modestly. (The small very number of sales in Q3 may have exaggerated the price movement, but 7 of the 8 sales were over $300,000).
Audubon Fall Market Report
Audubon Country Club has 410 homes spread over 755 acres and is surrounded by four of the top beaches:
– Bonita Beach, 2.8 miles away; Barefoot Beach, 2.9 miles away; Wiggins Pass State Park, 3.3 miles away; Vanderbilt Beach, 4.5 miles away
The market showed consistent growth from quarter to quarter.
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:
Naples September Market Overview
The median price in the overall Naples market through the first 9 months of 2021 increased 33% to $625,000 for Single Families (SF) and 18% to $329,595 for Condos.
The tables below show the breakdown of sales and median prices by area of Naples (see map below). Price increases for SF ranged from 30% in Central Naples to 40% in Naples Beach; and for Condos from 14% in South Naples to 21% in East Naples.
Sales also increased dramatically: up 30% for SFs and 68% for Condos.
Please contact me to discuss the current market and see how I can help you in your search. (more…)
Rising Prices Push Home Equity to Highest Level in 10 Years
Homes with a mortgage gained an average of $51,500 in equity in the second quarter, an increase of 29.3% from the April-June quarter last year, according to real estate information company CoreLogic. That’s the highest quarterly average gain in home equity since the second quarter of 2010, the firm said.
That works out to nearly $3 trillion in equity gained by U.S. homeowners with a mortgage, which is about 63% of all homes, CoreLogic said. Average homeowner equity jumped nearly 20% in the first quarter from a year earlier.
In its most recent quarterly housing forecast, mortgage buyer Freddie Mac envisions home prices growing 5.3% next year, down from a projected 12.1% increase in 2021. (more…)
Mortgage rates back to 3% – again
The 30-year Fixed Rate Mortgage ticked back up to 3% this week. I re-read Are Mortgage Rates headed Up or Down? which I published in June and I still think it summarises the situation quite well. Hence I have included the link rather than repeating the arguments.
The proximate cause for the increase in mortgage rates this week was the increase in the yield on the US Treasury 10-year Note. The increase started last week (after the Freddie Mac weekly survey, which is collected from Monday-Wednesday) when the Federal Reserve (Fed) confirmed that, if current trends continue, it will start to reduce its purchases of both Treasuries and Mortgage Backed Securities (MBS) soon and aim to end purchases by the middle of 2022.
At the same time, we saw a rate increase in Norway – the first in Europe- following earlier increases in Brazil and South Korea. And while the Fed continues to state that it will not consider actual rate increases (I am not sure why they refer to it as “lift off”- sounds like rocket-speed increases which it will not be) until after the end of the bond purchases, investors noticed a shift in the number of members forecasting a rate increase in 2022 rather than 2023.
And inflation continues to run hot. The Fed thinks this is transitory, but many others fear that it will be sustained forcing the Fed to raise rates sooner than it currently anticipates.
The Numbers (more…)
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
Yes Virginia, it is Still a Sellers’ Market
This infographic from Keeping Current Matters highlights the strength of the current market:
Historically, median closed prices of homes sold in Southwest Florida during summer months tend to be lower than median closed prices of homes sold during high-season months (January through April), but that trend did not occur this year.
According to the August NABOR report, the median closed price reported in August for the Naples area was $75,000 higher than the median closed price reported
in January 2021. 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 – in August supply was less than one month.
If selers can expect multiple offers, that also suggests that buyers need to be able to move fast and know how to make a competitive offer. If you are ready to make a move, please contact me.
For the latest market report read Naples Housing Market August Review
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
East Naples August Market Report
East Naples includes the areas to the East of Collier Blvd. See map below for details.
In the first 8 months of 2021 the median price of the Single Family homes sold in East Naples increased 29% to $465,000 on a 22% increase in sales, while the median Condo price increased 22% to $340,000 on a 63% increase in sales.
Single Family
A rolling 12-month calculation represents the current month and the 11 months prior in a single data point