An infrastructure and residential development order for 34 acres east of U.S. 41 in Estero, north of Broadway Avenue East and west of the railroad tracks, was approved by the village’s planning, zoning and design board Tuesday night. 

The Downtown Estero project from Indiana-based developer Buckingham Co. will consist of three multistory buildings at 100 units each. The site is entitled to 310 units, 200,000 square feet of nonresidential and 125 hotel rooms through Lee County-approved zoning several years ago.  

The developer plans on using just 30,000 square feet of the nonresidential land-use entitlement. Two buildings will be mixed-use with 5,000 square feet of nonresidential uses on the ground level while the third building will house community amenities, including a public pocket park, two pickleball courts, a pool area and a public passive park at Broadway Avenue. 

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Naples, Fla. (March 24, 2023) – Buyers looking for homes in Naples during February were met with more choices as overall inventory increased 131.4% to 2,835 properties from 1,225 properties in February 2022 (5% increase compared to January 2023). Broker analysts reviewing the February 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), attribute some of the rise in inventory to Hurricane Ian as many sellers were forced to address and remedy damage caused by the storm before the property was ready to welcome buyers. February’s overall median closed price is the same as January’s median close price of $600,000.

The gap in sales activity year over year continues to close thanks to continued confidence in the Naples real estate market. Overall pending sales in February decreased 16.8% to 1,241 pending sales from 1,480 pending sales in February 2022. Overall closed sales during February decreased 17.2% to 682 closed sales from 824 closed sales in February 2022. And showings decreased 15% in February to 36,574 showings from 43,032 showings in February 2022.

Naples, FL. (February 24, 2023) – Evidence of growing confidence in the Naples real estate market revealed itself in January as a wave of new sellers entered the market during the month. New listings in January rose 74.5% compared to December 2022, and 3.2% to 1,338 new listings from 1,297 new listings a year ago according to the January 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®).

“The good news is that the new listings coming onto the market are evenly split between single family and condos,” said Mike Hughes, Vice President and General Manager for DNFR “Inventory in both these areas have doubled since last January so buyers looking to purchase in either sector this year will have many more options.”

Closed sales in January decreased 33.8% to 555 homes from 839 homes in January 2022. But the spike in new listings is a promising turn of events as they pushed inventory in January up 122.7% to 2,699 properties from 1,212 properties in January 2022. Broker analysts reviewing the report are optimistic and say it potentially could result in a better-than-expected winter home buying season.
“Inventory between December and January grew nearly 10%,” said NABOR® President Nick Bobzien. “With the number of showings nearly doubling in January 2023 compared to December 2022, buyers were excited to see new listings come on the market and took advantage of the opportunity as seen by the huge increase in pending sales over the same period.”

A 45.6-acre development is proposed at the northwest corner of U.S. 41 and Coconut Road in Estero. The mixed-use development called Woodfield Estero is planned for 596 residential dwelling units, office, retail, restaurants and related uses. 

Estero hosted a public information meeting for the applicant, Woodfield Acquisitions LLC, for its requested rezoning from Mixed-Use Planned Development to Estero Planned Development, which allows for a mix of residential and nonresidential uses in a compact urban form. 

Previous owner Lee Health sold the land to South Carolina-based Woodfield Development. Prior to the sale, Lee Health was working with town planning firm Dover, Kohl and Partners on plans for the site. Woodfield will carry on the partnership with modifications to some of the original plans.  

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The Collier County Board of Commissioners recently approved a new ordinance requiring landlords to give long-term tenants 60 days prior notice of any increase in rental rates of more than 5%.  The ordinance went into effect on October 28, 2022.

This requirement applies to tenants in unincorporated Collier County with a residential lease term of one year or longer.  The 60-day notice period begins when the landlord provides notice to the tenant either through the mail, email, or posting the notice.  However, this notice requirement does not apply to any automatic rent increases provided for in written leases.

Real estate inventory in October on Marco Island increased 37% compared to October 2021, according to data from the Marco Island Area Association of Realtors. 

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Collier County Parks & Recreation Division announced four more beach access points opened on Nov. 23. The county opened Bluebill Access, South Marco Beach Access, and Tigertail Beach Access in October. After over a month of cleanup from Hurricane Ian.

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Naples, Fla. (October 21, 2022) – The impact of Hurricane Ian, as witnessed on the last two days of September, is not reflected in the September 2022 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). Given this, September’s data showed a predictable pattern of slow closed and pending sales with a slight increase in inventory, which is traditionally the case in historically stable September. While the report captured activity prior to Hurricane Ian’s arrival, broker analysts who reviewed the report on October 18th are confident Naples’ recovery will be swift and the resiliency of its home values will be protected.

“There is indeed a significant loss, yet the full scope of [the hurricane’s] impact was limited to a specific area along the coast and tributaries [in Collier County],” said Budge Huskey, CEO, Premier Sotheby’s International Realty. “Such an event always brings with it a rebuilding boom, and most people will make the decision to restore and improve rather than exit the area. It’s remarkable how quickly progress is being made each and every day.” 

Mike Hughes, Vice President and General Manager for Downing-Frye Realty, Inc., added that “Unlike Hurricane Irma, Hurricane Ian was not a severe wind event so roughly 80% of the county was unaffected. For buyers looking to purchase non-waterfront homes, the market is unchanged.”

Gov. Ron DeSantis announced Wednesday the reopening of the Sanibel Causeway for residents of Lee County. The reopening comes two days ahead of the scheduled date. DeSantis said 36,000 work hours were required to make the repairs and that the plan is to have over a quarter of the island powered back up by sometime this week, including fire stations, portions of neighborhoods and Sanibel Elementary School. Until further notice, vehicle traffic over the causeway on Mondays and Tuesdays will consist of emergency vehicles, debris management, electric providers and water and sewer utility providers. Residents, business and property owners and private contractors will be allowed access from 8 a.m. to 5 p.m. Wednesday through Sunday. There will be two inbound lanes with the right lane for emergency vehicles and emergency government contractors, and the left lane for those carrying Sanibel reentry permits. 

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