Sterling Oaks Fall Market Report

Sterling Oaks is Southwest Florida’s premier tennis community. Located in North Naples, the community consists of 432 Single Family Homes and 304 Condos/Coach Homes in North Naples, Florida. Prices appreciated throughout the year (the Q3 Condo number is exaggerated by the very small number of sales.)


Audubon Fall Market Report

Audubon Country Club has 410 homes spread over 755 acres and is surrounded by four of the top beaches:
– Bonita Beach, 2.8 miles away; Barefoot Beach, 2.9 miles away; Wiggins Pass State Park, 3.3 miles away; Vanderbilt Beach, 4.5 miles away
The market showed consistent growth from quarter to quarter.

Rising Prices Push Home Equity to Highest Level in 10 Years

Homes with a mortgage gained an average of $51,500 in equity in the second quarter, an increase of 29.3% from the April-June quarter last year, according to real estate information company CoreLogic. That’s the highest quarterly average gain in home equity since the second quarter of 2010, the firm said.

That works out to nearly $3 trillion in equity gained by U.S. homeowners with a mortgage, which is about 63% of all homes, CoreLogic said. Average homeowner equity jumped nearly 20% in the first quarter from a year earlier.

In its most recent quarterly housing forecast, mortgage buyer Freddie Mac envisions home prices growing 5.3% next year, down from a projected 12.1% increase in 2021. (more…)

Mortgage rates back to 3% – again

The 30-year Fixed Rate Mortgage ticked back up to 3% this week. I re-read Are Mortgage Rates headed Up or Down? which I published in June and I still think it summarises the situation quite well. Hence I have included the link rather than repeating the arguments.

The proximate cause  for the increase in mortgage rates this week was the increase in the yield on the US Treasury 10-year Note. The increase started last week (after the Freddie Mac weekly survey, which is collected from Monday-Wednesday) when the Federal Reserve (Fed) confirmed that, if current trends continue, it will start to reduce its purchases of both Treasuries and Mortgage Backed Securities (MBS) soon and aim to end purchases by the middle of 2022.

At the same time, we saw a rate increase in Norway – the first in Europe- following earlier increases in Brazil and South Korea. And while the Fed continues to state that it will not consider actual rate increases (I am not sure why they refer to it as “lift off”- sounds like rocket-speed increases which it will not be) until after the end of the bond purchases, investors noticed a shift in the number of members forecasting a rate increase in 2022 rather than 2023.

And inflation continues to run hot. The Fed thinks this is transitory, but many others fear that it will be sustained forcing the Fed to raise rates sooner than it currently anticipates.

The Numbers (more…)

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:
Sellers' 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

Naples housing market
Naples housing market
A rolling 12-month calculation represents the current month and the 11 months prior in a single data point

(more…)

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
Naples Housing Market
Naples Housing Market

A rolling 12-month calculation represents the current month and the 11 months prior in a single data point

(more…)

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
Naples housing market

(more…)

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

naples housing market

Naples housing market

(more…)

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 housing market
Naples housing market

(more…)

Home Price Appreciation Is Skyrocketing in 2021. What About 2022?