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…)
Arthrex’s North Naples campus qualifies as certified wildlife habitat
Recently, Arthrex was again recognized for its dedication to creating environmentally friendly workspaces when the Naples campus was designated a Certified Wildlife Habitat through the National Wildlife Federation and its Florida Wildlife Federation affiliate. The honor recognizes Arthrex for its commitment to sustainably providing the essential elements of the wildlife habitat.
When Arthrex and DeAngelis Diamond began to work on the construction of the global headquarters campus, care was taken to incorporate environmentally friendly aspects into the buildings and the campus. This includes the culvert, or buried canal, to preserve the waterway that crosses through the Arthrex global headquarters campus. This way, employees and guests will be able to enjoy expansive greenspace next to Arthrex One without disrupting the canal. The same goes for the Speedbridge, which was constructed over an existing waterway, allowing the habitat to be maintained for various plant, bird and fish species while helping employees and guests get from the Inc. building to the rest of the campus.
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…)
SWFL boasts booming job market for college graduates
Across the country, nearly half of recent college graduates are stuck looking for work, and when they do find jobs, 69% expect lower salaries. But here in Southwest Florida, we are experiencing just the opposite of that trend: Here, there are too many jobs, and not enough people to fill them. (WINK News).
CareerSource of Southwest Florida says the graduates here have been doing well, and the company has been touching base with all universities in the area to make sure students are placed in positions. It says the pandemic may have impacted graduates more in other states with stricter lockdowns, and that’s why national numbers are showing recent graduates struggling to find employment. (more…)
Bonita Springs March Market Report
A picture tells a thousand stories so 4 pictures must tell 4,000 stories:
Single Family
Condos
Comment
No surprises in that prices and sales are up while inventory is down.
What is perhaps surprising is the fact that prices remain below the peak levels seen before the Great Recession. Read How do prices in Southwest Florida compare with 2007/08? for more details.
Hello sub 3% mortgages – again
A Pre-Qualification Letter Doesn’t Equal Being Pre-Approved
How to Win a Naples Smart Home plus Mercedes plus $100k Cash
“Party on, dude” says the Federal Reserve
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
Lover’s Key State Park Welcome Center to open May 15
The new Lovers Key Welcome and Discovery Center building is complete and the phase one exhibits have been installed. The center will open to the public on May 15. The facility will serve to educate and inform visitors to Lovers Key State Park.
The 2,100-square-foot exhibit hall features many different habitats in the park with interpretive and interactive displays. (more…)
Florida online shoppers to pay more
Gov. Ron DeSantis has signed into law a bill requiring out-of-state online retailers to collect sales taxes on purchases made by Floridians.
Southwest Florida International Airport Traffic Jumps
During March, 1,162,342 passengers traveled through Southwest Florida International Airport in Fort Myers. This was an increase of 35% compared to March 2020 and an increase of 60.2% increase compared to February 2021. Year-to-date, passenger traffic is down 20.4% compared to last year.
The traffic leader in March was Southwest Airlines, with 284,606 total passengers. Rounding out the top five airlines were Delta (182,846), United (146,494), American (135,886) and Spirit (127,161). Southwest Florida International Airport had 11,472 aircraft operations, an increase of 7.5% compared to March 2020.
Meanwhile, construction continues on a new $80 million Airport Traffic Control Tower, while the $280 million, 200,000-square-foot expansion of the airport terminal, a project that had been deferred for a year due to the impact of the pandemic, was schedule to be bid in April, according to Ben Siegel, executive director for the Lee County Port Authority.
Naples housing market – onwards and upwards
How to Win a Naples Smart Home plus Mercedes plus $100k Cash
Hello sub 3% mortgages – again
“Party on, dude” says the Federal Reserve
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
Will the Housing Market Frenzy Die Down? That Depends on Sellers
The coronavirus pandemic raised the temperature considerably on the nation’s housing market. The past year has been marked by soaring prices, logic-defying offers over asking price, and steep competition as sellers have been hesitant to put their homes up for sale.
But the heart-pumping, bank account–depleting housing market frenzy could die down—at least a little—in the coming months as more sellers list their properties and inventory slowly increases. About 10% of current homeowners plan to put their homes on the market this year—and more than half are more affordably priced, according to an exclusive survey conducted by realtor.com®. An additional 16% expect to list their properties within the next two to three years.
Typically, only about 8% of homeowners put their homes up for sale a year. This is about a 25% anticipated increase, which translates into about 1.5 million more homes. The increase may be due to folks holding off on selling their homes during the worst of the coronavirus pandemic.
“There is a brighter light at the end of the tunnel for many weary buyers,” says Realtor.com Senior Economist George Ratiu.“In a market that right now only has close to half a million listings, a big boost in inventory can mean more choices for buyers and potentially a slowdown in price growth,” says Ratiu. He was quick to add that prices won’t drop, but the double-digit growth may taper off. “It’s signaling a return to normal for the economy and the housing market.”
Read the full article: Housing Market frenzy could cool for this reason
Naples housing market – onwards and upwards
Hello sub 3% mortgages – again
A Pre-Qualification Letter Doesn’t Equal Being Pre-Approved
“Party on, dude” says the Federal Reserve
Goodbye sub 3% mortgages
It’s 80 degrees in Florida….
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
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…)
Hello sub 3% Mortgages – again
This week’s drop below 3% – again – reminded me that the only one thing more fraught than commenting on mortgage rates is trying to predict where rates are headed. (see below for some of my posts about mortgage rates.)
After rising steadily from 2.65% at the beginning of the year to 3.18% by the end of March, the 30-year Fixed Rate Mortgage (FRM) has backed off again and this week the rate dropped back under 3%.
Freddie Mac weekly survey
The US is 3.8 Million Homes Short
The U.S. housing market needs nearly 4 million single-family homes to meet the nation’s demand, according to a new analysis from Freddie Mac. The 3.8 million shortfall marks a 52% increase in the housing shortage since 2018.
“This is what you get when you underbuild for 10 years,” says Sam Khater, Freddie Mac’s chief economist. “We should have almost four million more housing units if we had kept up with demand the last few years.”
Lawrence Yun, chief economist of the National Association of REALTORS®, has been among real estate economists leading the calls over the last few years for greater inventory and more homebuilding to meet demand. “We need to build more homes,” Yun told NPR, adding that since the housing crisis more than a decade ago, homebuilders have been building too few homes.
The housing shortage mixed with strong buyer demand since the pandemic is prompting home prices to rise rapidly. The median existing-home price for all housing types in February was $313,000, up 15.8% compared to a year earlier, according to the National Association of REALTORS®.
How to Win a Naples Smart Home plus Mercedes plus $100k Cash
Note: you can enter twice a day until June 11.
Click 2021 Smart Home tour for more photos. (more…)
By the Numbers: COVID-19 Vaccinations in Florida
As of April 19, more than 8.14 million people in Florida had received at least one dose of COVID-19 vaccines. Of those, more than half (4.82M) are ages 55 to 84.
Here is a breakdown by age groups:
*Ages 16 to 24: 395,449 people
*Ages 25 to 34: 612, 238 people
*Ages 35 to 44: 811,815 people
*Ages 45 to 54: 1,098,485 people
*Ages 55 to 64: 1,622,525 people
*Ages 65 to 74: 2,031,098 people
*Ages 75 to 84: 1,169,703 people
*Age 85 or older: 402,286 people
Source: Florida Department of Health (more…)