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
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
North Naples August 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 8 months of 2021 the median price Single Family homes sold in North Naples increased 32% to $736,500 on a 46% increase in sales, while the median Condo price increased 16% to $320,000 on a 56% increase in sales.
Single Family
Naples August Housing Market Review
The median price in the overall Naples market through the first 8 months of 2021 increased 35% to $625,000 for Single Families (SF) and 18% to $325,000 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 27% in South Naples to 44% in Naples Beach; and for Condos from 13% in South Naples to 33% in East Naples.
Sales also increased dramatically: up 39% for SFs and 79% for Condos. (more…)
15-Acre Naples, Florida, Retreat With a Menagerie With Monkeys Lists for $9.5 Million
A 15-acre Florida compound that comes complete with multiple residences, a tennis court and an animal menagerie has come to the market for $9.5 million.
The solar-powered estate, which claims to be “hurricane-proof,” is designed for living off the grid and it “offers a rare opportunity to own a tranquil, sustainable oasis in Naples,” listing agent Priscilla Kellerhouse said in a statement.
A 10,000-square-foot salmon-hued home is the compound’s main residence. The five-bedroom spread has an open floor plan, high ceilings, columns and marble floors.
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…)
Naples Housing Market Mid-Year 2021 Review
The median price of Single Family homes in the Naples area* sold in the 6 months to June 2021 increased 33% from $435,000 to $580,000, while sales increased 64% from 2,595 to 4,251.
The median price of Condos sold in the 6 months to June 2021 increased 16% from $272,000 to $316,000, while sales more than doubled from 2,491 to 5,163.
Keep reading for charts and more details: (more…)
Whay are people moving to Southwest Florida?
“Both Collier and Lee counties have been among the very strongest population growth markets in the entire nation over the past five years,” said Brian Alford, Florida director of market analytics for CoStar Group, which specializes in worldwide real estate data. “There have also been numerous corporate relocations and expansions over the past decade, including large expansions over the past couple of years by firms such as Gartner and Arthrex, adding even more jobs.” (Naples Daily News)
Some of the workers live in Bonita Springs, about halfway between Naples and Fort Myers. Incorporated only at the start of this century, Bonita for the first time barely edged into the Top 50 of the most populated in Florida, joining Cape Coral, Fort Myers and North Port.
“Demand to move here has always been strong, but lately, low interest rate policy, and coupled with lockdown fatigue up north, increased demand even more, which explains the larger-than-expected increases in population down here,” said economist Christopher Westley, dean of Florida Gulf Coast University’s Lutgert College of Business. (more…)
Naples Area June Market Summary
This is the overall market summary for June published by NABOR:
Comment
While this picture conveys very clearly the strength of the market I do not find the detail particularly helpful as it combines all types of property – from single family to condo.
I will publish detailed reports by sector and by area this coming Saturday. Meanwhile, here are links to the preliminary reports I have already published for June: (more…)