Naples, FL (December 22, 2021) – Pre-season buyers descended on the Naples real estate market in November pushing the area’s overall inventory down 76.1% to 1,198 homes from 5,006 homes in November 2020.

Demand for the Naples lifestyle during November also influenced the median closed price which increased 31.3% to $499,000 from $380,000 in November 2020. Broker analysts reviewing the November 2021 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), predict buyer demand to continue as homeowners in Northern states seek lifestyles with fewer COVID-19 restrictions and international buyers seek investments in the U.S. real estate market.

The Lee County housing market continued to favor sellers in November, with the average single-family home selling in 22 days for an average price of $536,680 — a 28% increase over a year ago, the Royal Palm Coast Realtor Association reports. The median home price for the area last month was $379,900 — an 18.7% jump from a year ago — and there were 4.5% fewer new listings compared to November 2020. First-time buyers were particularly hard hit over the past year, as the housing affordability index dropped 13.9% versus a year ago to the lowest levels seen in the area since early 2008, according to RPCRA. In the townhouse/condominium segment, it took 16 days to sell a property for an average sale price of $337,121. A year ago, townhomes and condominiums averaged $280,626 in Lee County and took 72 days to sell. Sellers received 99.3% of the asking price for all property types last month. 

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Gateway Triangle sale paves way for 10-story hotel-condo project in Naples area

The final slice of the Gateway Triangle sold for $8.6 million Thursday for the redevelopment of a 10-story mixed-use project with hotel rooms and luxury condominiums where U.S. 41 East meets Davis Boulevard on the edge of Naples. The name of the 377,421-square-foot project is The Ellington, targeted to break ground in mid-January with a 20-month build time and a completion date near the end of 2023.

Marco Island sold single-family homes were down by 38% from 54 to 33 this October compared to October 2020, according to Berkshire Hathaway HomeServices Florida Realty Broker Associate Gerry Rosenblum.

Sold condominiums were down by 51% from 78 to 38, and sold single-family vacant lots were down 70% from 30 to 9.

In October, single-family homes were down 46% from October 2020, condominiums were down 77% and single-family vacant lots were down 61%. A total of $80 million worth of real estate closed on Marco Island in October, Rosenblum states.

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Naples, FL (November 23, 2021) – Home sales were bridled by low inventory during October, but new listings are on the rise according to the October 2021 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island).

Overall closed sales for October decreased 32.1% to 858 closed sales from 1,263 closed sales in October 2020. But irrespective of the home buying frenzy that took place during the second half of 2020 (including October 2020), closed sales in October were historically higher than average for a typical October in Naples, even with the lowest inventory level on record by NABOR®.

Broker analysts who reviewed the October Market Report anticipate more sellers will enter the market over the next few months as the lure of paradise is already beckoning seasonal and foreign visitors back to our shores now that many international travel restrictions have been lifted and the threat of COVID-19 has been reduced.
The report shows pre-season interest already in play as October’s pending sales (1,186 pending sales) and showings (33,578) were above summer month levels.

Collier County Public Schools broke ground Monday on a new high school in North Naples. The county’s ninth public high school is set to open in August 2023 on 60 acres just west of Veterans Memorial Elementary School near the intersection of Veterans Memorial Boulevard and Livingston Road. The three-story, 295,071-square-foot high school is equipped to serve 1,887 students and will feature five career academies: engineering, health science, law studies, information technology, and entrepreneurship and finance. The school district will begin a community campaign next year to name the new school, known now as just GGG. 
The new school will be located at proximity of Imperial Golf Estates, Mediterra and Barrington Cove communities in North Napless.

Expect longer commutes, increased wait times at restaurants and more seasonal residents coming to Southwest Florida as the U.S. lifted pandemic travel restrictions on 33 foreign countries this week. Expect to see more faces from around the globe, good news for the local economy. In 2019, Germany and Canada each accounted for 4% of visitors to Lee County and the United Kingdom accounted for 2%. With some businesses having fewer workers, though, experts warn that there will be a rapid increase in demand for services as Southwest Florida counties deal with a surge in non-essential travelers from Europe to Central and South America. These foreign visitors can't travel directly into Southwest Florida, but they can catch a connecting flight from a bigger city like New York or Boston. Experts say regardless of how they get here, we can expect to see record-setting visitation, WINK News reports. "There is a pent-up demand to travel," said Paul Beirnes, director of the Naples, Marco Island and the Everglades Convention & Visitors Bureau. "I think that all bets are off as to what that means in numbers." 

Naples, FL (October 22, 2021) – Home sales in September would have been stronger if there was more inventory, say broker analysts reviewing the September 2021 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island).

Historically, September is the slowest month for home sales in Naples, but the area’s reputable natural beauty and home-value potential continue to increase its desirability to home buyers.
Closed sales in September decreased 18.9% to 914 closed sales from 1,127 closed sales in September 2020, a result of low inventory.

A decrease of 213 homes sales might seem like home buying interest is waning but consider the inventory factor.
In September 2020, there were 5,287 properties available. While in September 2021, the month ended with just 1,251 properties for sale (a 76.3% decrease). Comparing showing activity also sheds light on the situation.
There were roughly 23 showings per home during September compared to under seven showings per home in September 2020. Basically, more buyers are looking at fewer properties this year.

“Unfortunately, the numbers can’t tell us the full story,” remarked Adam Vellano, a Naples Sales Manager at Compass Florida. “We know demand is strong, but at the current inventory level, it’s hard to sustain the level of sales we have done in previous years.”

But Budge Huskey, CEO, Premier Sotheby’s International Realty, says there are signs to be optimistic. “I’m seeing more and more development companies from around the country putting their money on Naples. They know Naples still represents a great value compared to other desirable locations around the country and investing at today’s prices shows they think Naples will only become even more desirable in the future. They are confident the level of demand and overall values have room to run.”

Hoffmann Family of Companies, operated by Naples resident David Hoffmann, on Friday acquired Old Collier Golf Club, a prestigious 18-hole championship course on nearly 400 acres in North Naples.

The purchase price for the property has not been disclosed yet. Situated along the Cocohatchee River, west of U.S. 41, the property originally was purchased for $7,299,000 in December 1998 by the Old Collier Golf Club Inc., an affiliate of Collier Enterprises, a Naples-based real estate investment and development firm. Celebrating its 20th anniversary this year, the Old Collier Golf Club offers invitation-only membership and does not have a residential component. Its stately clubhouse at 790 Main House Drive is recognized for its fine-dining and wine program. The park-like setting course was designed by notable golf course architect Tom Fazio, who has created some of the top courses in the United States for decades.
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August Real Estate Market Report: Low Inventory, Strong Demand

Naples, FL (September 24, 2021) – Demand for homes in Collier County kept REALTORS® busy in August, even as inventory dropped 77.3% to 1,249 homes from 5,503 homes in August 2020. According to the August 2021 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), REALTORS® escorted buyers on over 30,000 home showings in August! The month’s strong showing activity—coupled with a 76.8% decrease in days on market to 22 days—means most homes were listed, shown, and sold in less than 30 days.

“Pent up buyer demand that began last summer has stretched inventory thin,” said Mike Hughes, Vice President and General Manager for Downing-Frye Realty, Inc., who added that “this could lead to upward pressure on pricing.”

Historically, median closed prices of homes sold 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 report, the median closed price reported in August was $75,000 higher than the median closed price reported in January 2021.
The median closed price of homes sold increased 11.7% in August to $441,300 from $395,000 in August 2020 (median price is the price at which 50% of the homes sold were above that price, and 50 percent were below).