Bay Forest Condo Open Houses this weekend
Location: West of Hwy 41 on Vanderbilt Drive, N Naples Welcome to your coastal retreat in the serene community of Bay Forest! This ground floor end unit in Bermuda Bay 1 – 15405 Cedarwood Ln, unit 101 -offers convenience and tranquility. With 2 bedrooms plus a den and 2 bathrooms, this home is perfect for those seeking comfort and space. The private courtyard and direct access from the deeded carport make everyday living a breeze – no more lugging groceries through parking lots! New tile roof (2021), brand new A/C, new $4.5 millionboardwalk construction has started (seller will pay final assessment).
Open Houses: Saturday 12-3 PM; Sunday 1-4 PM (more…)
BAY FOREST CONDO – GROUND FLOOR END UNIT-OPEN HOUSE TODAY 1-4 PM
Location: West of Hwy 41 on Vanderbilt Drive, N Naples Welcome to your coastal retreat in the serene community of Bay Forest! This ground floor end unit in Bermuda Bay 1 – 15405 Cedarwood Ln, unit 101 -offers convenience and tranquility. With 2 bedrooms plus a den and 2 bathrooms, this home is perfect for those seeking comfort and space. The private courtyard and direct access from the deeded carport make everyday living a breeze – no more lugging groceries through parking lots! New tile roof (2021), brand new A/C, boardwalk construction about to start (seller will pay assessment). (more…)
Investment Opportunity in Naples Park: Open House today 2-5 PM
Come and see this brand new construction at 528 103RD AVE N in Naples Park today, 2-5 PM.
Listed by Compass agent Maddie Tracy, this 4 bedroon, 4 1/2 bathroom house high-ceiling, high end house with pool, is ideally placed in Naples Park to attract renters.
Professional property management company has estimated potential net income of $285,000 – a great potential return at the asking price of $2.25 million.
And… the house next door is also available. But it is not on BOGO. Call me at 617.834.8205 for a private showing. (more…)
PELICAN BAY 2023 MARKET REPORT and 5-YEAR REVIEW
Click PELICAN BAY 2023 MARKET REPORT and 5-YEAR REVIEW to download a copy of this report.
Median Price and Sales
The median price of the Single Family homes sold in Pelican Bay more than doubled from just $1.8 million in 2019 to $3.9 million in 2023.
Sales increased from 2019 to 2021 and have since dropped back below pre-pandemic levels. The last SF sale in Pelican Bay was in September 2023.
The median price of the Villas sold in Pelican Bay almost doubled from $1.1 million in 2019 to $2.1 million in 2023.
The number of sales increased in 2020/21, but has since dropped back to pre-pandemic numbers.
The median price of the Condos sold in Pelican increased 45% from $860,000 in 2019 to $1.25 million in 2023. Sales doubled from 2019 to 2021, and have since returned to 2019 levels.
Single Family Sales by Price
Another way to look at sales is the distribution by price. In 2019, 73% of Single Family sales were under $3 million and by 2023 that had dropped to just 11%. Conversely, the share of sales over $3 million went from 27% to 89% in the same period. (more…)
BAY FOREST 2023 MARKET REPORT and 5-YEAR REVIEW
Click BAY FOREST 2023 MARKET REPORT and 5-YEAR REVIEW to download a copy of this report.
Median Price and Sales
The median price of the properties sold in Bay Forest increased 77% from $268,000 in 2019 to $475,000 in 2023. Sales doubled between 2019 and 2021, and dropped back again in 2022 and 2023.
Sales by Price
Another way to look at sales is the distribution by price. In 2019, 74% of sales were under $300,000 and there were none under $300,000 in 2022 and 2023. Conversely, the share of sales over $500,000 went from zero to 44%
Bay Forest sees a small number of sales each year at quite a wide range of price: in 2023, from $320,000 to $790,000.
The combination of small number of sales and wide range of prices can make median prices less reliable as a guide to the overall market in Bay Forest. (more…)
IMPERIAL GOLF ESTATES 2023 MARKET REPORT and 5-YEAR REVIEW
Click IMPERIAL GOLF ESTATES 2023 MARKET REPORT and 5_YEAR REVIEW to download a copy of this report.
Median Price and Sales
The median price of the Single Family homes sold in Imperial Golf Estates more than doubled from $515,000 in 2019 to $1.1 million in 2023. Sales increased modestly until Q3 2021, and then dropped sharply to below pre-pandemic levels in 2022 and 2023
The median price of Villas (attached and detached) sold increased 65% from $315,000 in 2019 to $519,000 in 2023. The number of sales is quite small and shows some fluctuations during these years.
The median price of Condos (and Townhouses) increased 62% from $222,000 in 2019 to $360,500 in 2023, a small declined from the 2022 level. Sales in 2022 and 2023 dropped back to their pre-pandemic level.
Single Family Sales by Price
Another way to look at sales is the distribution by price. (more…)
PELICAN MARSH 2023 MARKET REPORT and 5-YEAR REVIEW
This report analyses the Median Price and Sales per quarter since 2019, along with the Sales by Price point, Price per Sq.Ft., and the Days properties were on the market before receiving an offer (DTO). Median numbers are used in all calculations.
Click PELICAN MARSH 2023 MARKET REPORT and 5-YEAR REVIEW to download a copy of this report.
If you are thinking of selling, please contact me for a current market analysis for your property. With little supply, and the prospect of lower interest rates in 2024, this could be a good time to sell.
Median Price and Sales
The median price of the Single Family homes sold in Pelican Marsh more than doubled from $825,000 in 2019 to $2.2 million in 2023. Sales surged until around Q3 2021, thereafter returning to pre-pandemic levels and below.
The median price of the Condos sold increased by 74% from $419,000 in 2019 to $775,000 in 2022, before easing to $730,000 in 2023. Sales following a similar pattern to that for SFs.
Single Family Sales by Price
Another way to look at sales is the distribution by price. In 2019, 55% of Single Family sales were under $1 million and by 2023 that had dropped to just 3%. Conversely, the share of sales over $2 million went from 4% to 58% in the same period. (more…)
BONITA BAY MARKET 2023 MARKET REPORT and 5-YEAR REVIEW
This report analyses the Median Price and Sales per quarter since 2019, along with the Sales by Price point, Price per Sq.Ft., and the Days properties were on the market before receiving an offer (DTO). Median numbers are used in all calculations.
Click BONITA BAY 2023 MARKET REPORT and 5-YEAR REVIEW to donwload a copy of this report.
Median Price and Sales
The median price of the Single Family homes sold in Bonita Bay more doubled from just under $1.2 million in 2019 to $2.5 million in 2022 and 2023.
Sales increased from 2019 to 2021 and have since dropped back below pre-pandemic levels. (more…)
BONITA SPRINGS 2023 MARKET REPORT and 5-YEAR REVIEW
This report analyses the Median Price and Sales per quarter since 2019, along with the Sales by Price point, Price per Sq.Ft., and the Days properties were on the market before receiving an offer (DTO). Median numbers are used in all calculations.
Click BONITA SPRINGS 2023 MARKET REPORT and 5_YEAR REVIEW to download a copy of this report.
Median Price and Sales
The median price of the Single Family homes sold in Bonta Springs increased more than 80% from $409,900 in 2019 to $750,000 in 2023. Sales surged until around Q3 2021, thereafter returning to pre-pandemic levels in 2022 and 2023.
The median price of Villas (attached and detached) sold increased almost 80% from $308,500 in 2019 to $552,500 in 2023. Sales followed a similar pattern to that for SF. The decline was greater – but on a small number of sales.
The median price of Condos (and Townhouses) increased 85% from $259,000 in 2019 to $480,000 in 2023. Sales in 2023 dropped to a little below the pre-pandemic number.
Single Family Sales by Price
Another way to look at sales is the distribution by price. (more…)
NAPLES 2023 MARKET REPORT and 5-YEAR REVIEW
This report analyses the Median Price and Sales per quarter since 2019, along with the Sales by Price point, Price per Sq.Ft., and the Days properties were on the market before receiving an offer (DTO). Median numbers are used in all calculations.
Click NAPLES 2023 MARKET REPORT and 5_YEAR REVIEW to download a copy of this report.
The numbers have been dramatic over the last few years, for all the well-known reasons. With the market returning to more normal conditions, pricing and condition are again important. If you are thinking of selling, please contact me for a current market analysis for your property. (more…)
Where Should I Place The TV?
TV options have grown tremendously in the past few years as new technologies have emerged and older ones have been vastly improved. While many accept the look of a TV on a wall, others bemoan it. There are solutions for all.
1. Regular wall-mounted TV’s. There are multiple options, sizes and price points.
2. Projection TV’s: these days the quality has improved so notably that they are clearly visible projected on a screen or wall in full daylight.
3. Retractable TV mounts: these allow you to place a TV on a wall and angle the TV towards you when watching, allowing for more placement options.
4. Furniture mounted concealed TV’s: cabinets with a hydraulic system allow a TV to rise from a cabinet and disappear when not in use.
5. Ceiling mounted TV’s: These lie flush within the ceiling and then angle down when in use.
6. Floor mounted concealed TV: a high-tech automated arm raises the TV concealed in the floor.
7. Under-bed mounts: a mechanism houses the TV under a bed and it emerges from the foot and rises with a hydraulic arm when in use.
8. TV on a stand. Several attractive variations of this exist at multiple price levels.
9. Mirror TV’s. Tech allows. a TV to be mounted within a bathroom (or other) mirror and disappear when not in use.
10. Room divider see-through TV. LG has revealed a new technology in TV options for the home, a TV with a transparent screen, the world’s first wireless transparent OLED TV, with a 77-inch OLED (organic light-emitting diode) screen, a technology used in lighting that facilitates digital displays on products including TV’s and smartphones. Thanks to its transparency, the TV does not need to be placed against the wall like a traditional screen. (DEZEEN)
11. Rollable TV’s. Yup, a TV that rolls up into a low-lying cabinet that maintains your view when placed in front of a window.
12. TV as art? The FRAME TV by Samsung appears as if it were an art piece in a gallery-style frame when not in use.
Naturally, some of these are very expensive options, but often these are cheaper solutions than blocking a view. In a world where real estate can cost $1,000-plus per square foot, the cost of a TV should be weighed up against the space savings…..
New Mortgage Applications Jump More Than 10%
WASHINGTON — Mortgage applications increased 10.4% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 12, 2024. Last week’s results included an adjustment to account for the New Year’s holiday.
The Market Composite Index, a measure of mortgage loan application volume, increased 10.4% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the index increased 26% compared with the previous week.
The Refinance Index increased 11% from the previous week and was 10% higher than the same week one year ago. The seasonally adjusted Purchase Index increased 9% from one week earlier. The unadjusted Purchase Index increased 28% compared with the previous week and was 20% lower than the same week one year ago.
“Mortgage rates declined across all loan types as Treasury yields moved lower last week on incoming inflation data, which helped to support a rise in mortgage applications. The 30-year fixed mortgage rate decreased six basis points to 6.75%, the lowest rate in three weeks,” said Joel Kan, MBA’s vice president and deputy chief economist.
“Compared to a holiday-adjusted week, both purchase and refinance applications were up, and the increases were heavily driven by the conventional market. Although purchase activity is lagging year-ago levels, refinance applications have improved from their recent low point and have been showing year-over-year gains, albeit at low levels. If rates continue to ease, MBA is cautiously optimistic that home purchases will pick up in the coming months.”
The survey covers over 75% of all U.S. retail residential mortgage applications and has been conducted weekly since 1990. Respondents include mortgage bankers, commercial banks, and thrifts. Base period and value for all indexes is March 16, 1990=100.
© 2024 Florida Realtors®
More Properties Listed, Supply Still Short
The recent pullback in mortgage rates is spurring more homeowners to put their homes up for sale, though the increases so far have been too modest to return the housing market’s inventory of available properties back to pre-pandemic levels.
The number of active listings, a tally of U.S. homes on the market that excludes those pending a finalized sale, climbed 4.9% to 714,176 in December from a year earlier, the biggest annual increase since June, according to data released this week by Realtor.com.
A big part of the increase was due to a 9.1% jump in new listings, or properties that made their market debut in December, which posted an annual increase for the second time after 17 months of declines.
As is typically the case, active listings declined in December from the previous month, falling 5.5%. But the drop was less than the typical decline of 6.8% to 13.2%, Realtor.com said.
While the pickup in home listings is a welcome development for prospective homebuyers, the housing market remains constrained with for-sale inventory still well below pre-pandemic levels.
Consider that active listings were down 30.9% in December compared to the same month in 2019, while new listings were down nearly 12%.
Housing economists expect that the average rate will continue to decline this year, though forecasts generally see it moving no lower than 6%.
That may not be enough to motivate many homeowners to sell, given that some two-thirds of U.S. homes have a mortgage with a rate under 4% and more than 90% have a rate below 6%.
That means the upcoming spring homebuying season is likely to favor sellers as homebuyers compete for a relatively limited number of homes for sale. (Florida Realtors)
And read these articles:
Why Mortgage Rates will fall in 2024
Transitory inflation? Recession? What else will forecasters get wrong?
More insurers coming to Florida
- Andrew Oliver, M.B.E., M.B.A.
Real Estate Advisor
Andrew.Oliver@Compass.com - AndrewOliverRealtor.com
m 617.834.8205
Naples November Market Highlights
My year end reviews will be published on January 14.
And read these articles:
INFLATION and RECESSION UPDATE
Why Mortgage Rates will fall in 2024
Transitory inflation? Recession? What else will forecasters get wrong?
More insurers coming to Florida
Core Inflation Prices Barely Budged in August
August Housing Market: Median Prices Rise Year on Year
Market Reports
BAY FOREST Q3 MARKET REPORT 2019-2023
BONITA BAY Q3 MARKET REPORT 2019-2023
IMPERIAL GOLF ESTATES Q3 MARKET REPORT 2019-2023 (more…)
INFLATION and RECESSION UPDATE
This time last year, stocks were still in the gutter, inflation was in the stratosphere and Fed interest rates were going up, up, up. Today the S&P 500 has risen 17% since Jan. 1, the much-anticipated recession has yet to arrive, unemployment remains below 4% and consumers are still spending–Walmart, Target, and Gap all beat expectations this week.
Inflation has dropped to around 3%, not too far off the Fed’s 2% target. Walmart CEO Doug McMillon was talking about deflation in the coming months. Oil prices are below $75 a barrel, Airfares are significantly cheaper this year than they were for the holidays last year. Bond yields are dropping, too, as traders start to price in Fed rate cuts next year. The 10-year yield has dropped back to around 4.4% from as high as 5% in October. (Barrons)
On Thursday, Walmart CEO Doug McMillon said deflation could be coming as general merchandise and key grocery items, such as eggs, chicken and seafood get cheaper.
He said the retailer expects some of the stickier higher prices, such as the ones for pantry staples, to “start to deflate in the coming weeks and months,” too.
“In the U.S., we may be managing through a period of deflation in the months to come,” he said on the company’s Thursday earnings call. “And while that would put more unit pressure on us, we welcome it, because it’s better for our customers.”
“I think the most important observation we’ve made is that the worst of the inflationary environment is behind us,” Hone Depot, Chief Financial Officer Richard McPhail
The question now is whether the Federal Reserve, having been extremely slow to start raising rates and reversing Quantative Easing, will be similarly late in easing. The Fed claims to be data dependent, but data tells us what happened in the past – and the Fed’s actions impact the future.
“The Fed must lower rates to cause money suply to grow by 5% per year, consistent with the 2% inflation target.If the Fed waits until core inflation is 2% we could have a recession.”(Jeremy Siegel, Wharton)
And read these articles:
Why Mortgage Rates will fall in 2024
Transitory inflation? Recession? What else will forecasters get wrong?
More insurers coming to Florida
Core Inflation Prices Barely Budged in August
August Housing Market: Median Prices Rise Year on Year
Market Reports
BAY FOREST Q3 MARKET REPORT 2019-2023
BONITA BAY Q3 MARKET REPORT 2019-2023
IMPERIAL GOLF ESTATES Q3 MARKET REPORT 2019-2023 (more…)