South Naples June Housing Market Summary
The 3-month median price for Single Family Homes in South Naples – the area bounded by 41, David Blvd and Collier Blvd.(see map below) covering zipcodes 34112 and 34113 – continued to rise sharply, reaching $537,500 for the April-June quarter, breaking strongly through the $500,000 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:
(more…)
Naples Overall Market Summary in June
The 3-month median price for Single Family Homes in the whole Naples area continued to rise sharply reaching $605,000 for the April-June quarter, some 35% higher than a year ago:
Meanwhile sales, which have been in the 1,000-1,500 range per quarter in recent years, have seen a similar trend, reaching well over 2,000 in the most recent quarter: (more…)
Real Estate: It’s Not a Bubble Unless it Pops
A bubble, by definition, pops and prices plummet.
“Look at buyer demand. Look at homeowner equity. Prices could stop going up for a bit – but it’s not a bubble.” (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.
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
Naples Beach May Housing 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 5 months of 2021 the median price of the 597 Single Family sales was $2.25 million, while that of the 1,096 Condo sales was $799,000.
Single Family
A rolling 12-month calculation represents the current month and the 11 months prior in a single data point
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
South Naples May Housing Market report
South Naples includes the area bounded by 41, David Blvd and Collier Blvd. See map below.
In the first 5 months of 2021 the median price of the 462 Single Family homes sold in South Naples was $509,500 and that of the 967 Condos $247,500.
Single Family
A rolling 12-month calculation represents the current month and the 11 months prior in a single data point
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…)
Tourism making major comeback in Naples and Collier County
April’s tourist numbers naturally show a huge increase from a year ago, when the national lockdown was underway, but more relevantly they are also show strong gains compared with 2019:
– A 9% increase in visitors
– A 24% increase in room nights
– A 20% increase in economic impact
– A 2% increase in occupancy
In Collier County, April might have been a bit unusual, drawing visitors here who may have wanted to come sooner, but waited to get vaccinated — or just to feel more comfortable with traveling, according to Anne Wittine, the director of data analysis for Research Data Services, the county’s tourism consultant. (more…)
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
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Market Analyst | Team Harborside | teamharborside.com
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One Essex Street | Marblehead, MA 01945
www.OliverReportsMA.com
Andrew.Oliver@SothebysRealty.com
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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…)
Naples rated No. 1 beach town to live in
Travel + Leisure recently wrote that the Southwest Florida city is the No. 1 U.S. beach town to live in. The magazine cited the personal finance site WalletHub for determining the best beach towns to live in around the United States.
WalletHub ranked them according to 63 indicators, including “affordability, weather, safety, economy, education and health and overall quality of life.” WalletHub rated 145 total cities.
The New York City-based monthly publication lauded Naples for its “unbeatable quality of life and relative affordability.”
“Located on Florida’s Paradise Coast along the Gulf of Mexico,” the magazine said in its April issue, “the town offers lots to see and do, including pristine, white-sand beaches and day trips to nearby Everglades National Park.”
If you would like to buy a piece of paradise, please contact me: (more…)
Naples housing market – onwards and upwards
The March 2021 Market Report, released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), shows that March was the highest performing month in the 13 years NABOR has tracked these metrics.
Sellers are raising prices and multiple offers are still coming in,” said Budge Huskey, CEO, Premier Sotheby’s International Realty. “This is because inventory is limited, and more sellers are realizing now is a good time to place their home on the market and get top value in the current market conditions!”
Broker analysts predict the level of demand experienced in March is sustainable and should be expected to continue for the next few months, or longer. “Season was disrupted this year because many people elected to hold off relocating until they were fully vaccinated,” added Huskey. “Agents also report that many seasonal visitors are staying longer than in previous years, possibly because they can afford to wait in anticipation of more homes becoming available in the luxury market. I believe we’ll continue to see more newcomers from northern states looking for homes in the high end in the coming months. Beyond that, and as we enter the summer season, we might begin to see a second wave of international buyers entering our market as travel restrictions begin to relax.”
Median closed prices in March increased 12.2 percent to $415,000 (the highest median price increase month/month on record since 2008) from $370,000 in March 2020. In March 2021, there were just 1,819 homes in inventory (the lowest it has been since 2014), which was a 73.2 percent decrease from 6,795 homes in inventory in March 2020.
The March report revealed that the Naples area now has only a 1.6 month supply of homes available to buyers
The following charts give a visual summary of market activity: (more…)