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…)
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
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
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
The Real Estate Market Isn’t in a Bubble
The soaring housing market is prompting more “bubble” fears in some corners, but economists say the housing market isn’t getting overinflated: but it’s just too much demand and too little supply.
“We have strong conviction that we are not experiencing a bubble in U.S. housing,” Vishwanath Tirupattur, a Morgan Stanley strategist, wrote in a note to clients this week.
Lawrence Yun, chief economist of the National Association of Realtors®, agrees. He told Axios last month: “This is not a bubble. It is simply lack of supply.”
Morgan Stanley points out that this isn’t 2006. (more…)
Tom Brady’s modest new Yacht
Tom Brady has decided that it is time to upgrade from his current boat, a 55-footer made famous in February when the Super Bowl QB (and GOAT) launched the Lombardi trophy from the stern across the water to another yacht during the Buccaneers’ victory boat parade.
“Moving down to Tampa Bay last year, I live right on this beautiful bay — Old Hillsborough Bay — and the first thing I did when I got here was say, ‘I need a boat. I gotta be able to get out on this beautiful water.’ And I was able to do it,”
“I think the 77 will be a little bit more suited for what we need it for down here, which is a few more day trips and weekend trips,” Brady said of the upgrade.
I wonder if the new boat will have a platform as a stable base from which to throw next year’s trophy to Gronk? (more…)