Greater Naples Real Estate News & Market Trends

Browse our blog for the latest news, trends, market reports, and relevant information about real estate, and lifestyle in the Greater Naples area: Naples, Marco Island, Bonita Springs, Estero, Fort Myers, Fort Myers Beach and Cape Coral.
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You can also check our other blog: Naples to Estero Real Estate Blog for previous posts.

Feb. 8, 2024

How ‘Tax-Friendly’ Is Florida Compared to Other States?

How ‘Tax-Friendly’ Is Fla. Compared to Other States?

A MoneyGeek study including IRS, state, property, and sales taxes listed Florida. as the No. 4 least-expensive tax state. Total tax costs are about 5.6% of total income.

TAMPA, Fla. – It’s tax filing season and depending on where you live in the U.S., you could be forking over a very different-sized chunk of your income.

An analysis by MoneyGeek ranked every state by how “tax-friendly” it is. The analysts didn’t just look at income tax – they also factored in property taxes, plus state and local sales taxes.

To determine where people pay the highest tax burden, MoneyGeek looked at a hypothetical average family: a married couple with one kid, earning the median national income of $82,852, and owning a $349,400 home. The study breaks down how much this fictional family would pay in taxes in every state.

The states with the lowest tax burden, according to the analysis, were:

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Feb. 6, 2024

New Villas For Sale in Estero,FL

New Villas For Sale, in Estero

Construction is well underway in that intimate new community built by DR Horton in Estero, FL. 

Milan Villas will offer forty-four twin villas at completion. Located in the heart of Estero with easy access from Three Oaks Parkway. 

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Feb. 2, 2024

Naples Real Estate Market Report - December 2023 - Home Inventory is Rising

Naples, Fla. (January 30, 2023) – According to the December 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), overall inventory increased 45.9% to 3,949 properties from 2,706 properties in December 2022. The report showed consistent monthly increases in inventory during the year, which means more options for buyers in 2024; especially in the condominium market, which reported a 78.7% increase in inventory. However, according to broker analysts reviewing the December report, the housing market faced several challenges in 2023: rising interest rates, rising insurance rates, and rising inflation.
Brokers also point to increased personal travel in 2023 as another reason home sales lagged in 2023. As a result, closed sales in 2023 decreased 13.6% to 8,816 closed sales from 10,206 closed sales in 2022. Despite the challenges, there were seven months in 2023 when new listings increased more than new listings reported in comparative months in 2022. For December, new listings increased 12.1% to 892 new listings from 796 new listings in December 2022. Interestingly, unlike other industries that experience a reduction in price when supply increases, the Naples area housing market enjoyed a 9.7 percent increase in overall median closed price in December to $631,000 from $575,000 in December 2022. In comparison, according to the National Association of Realtors, the median existing-home price in the U.S. increased 4.4% in December to $382,000 from $366,000 in December 2022.

Infographics December 2023 - Greater Naples Real Estate

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Jan. 8, 2024

Bonita & Estero Real Estate - Market Report - November 2023

The real estate market update for Bonita Springs and Estero Real Estate in November 2023 shows that the active inventory increased 72% compared to November 2022, and the median closed price was up 12% in November. 

The average DOM (Days on the Market) was 51 days compared to 34 last year for the same month. The median sale price was $576,000.

Bonita Springs Estero - Market Stats - November 2023

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Dec. 14, 2023

Why FSBOs Say They Regret Not Using a Real Estate Agent

Home sellers reveal why they decided to bypass professional representation—and the mistakes they made without a trusted adviser.

Homeowners who decline to use a real estate agent to sell their property are twice as likely to say they weren’t satisfied with the selling experience, according to a new survey from Clever Real Estate(link is external) of 1,000 home sellers in 2022 and 2023. Survey respondents say they realize they likely made less money on their home sale and faced more stress by not having a professional representative.

Those who didn’t use a real estate agent said before their transaction that they think pros are overpaid for what they do and are not more knowledgeable about the homeselling process than the average seller. However, when these respondents reflected on their experience after the transaction, they admitted that they made some mistakes without the help of a pro.

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Posted in Sellers
Nov. 30, 2023

Naples Real Estate Market Report - October 2023 - October Inventory Expands in Anticipation of Winter Buyers

Naples, Fla. (November 27, 2023) – Real estate brokers reviewing the October 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), were encouraged to see a 31.8% increase in new listings to 1,231 new listings from 934 new listings in October 2022.
The report also showed the median closed price of homes in Naples during October increased 4.5% to $580,000 from $555,000 in October 2022. According to broker analysts, these two factors indicate false rumors of an extreme market correction. They also illustrate renewed seller confidence, which will be good news for buyers seeking more options in the coming months.

Infographics October 2023 - Greater Naples Real Estate

“October had the highest number of new listings added to the market compared to any October in the last two years,” remarked Dominic Pallini, Broker at Vanderbilt Realty, Inc.
Historically, and according to NABOR®’s monthly market reports, October and January have the highest number of new listings. New listings in October for the condominium market shot up 61.9% to 612 new condominium listings from 378 new condominium listings in October 2022. Single-family home new listings in October also increased at a healthy rate of 11.3% to 619 new single-family home listings from 556 new single-family homes listings in October 2022. Obviously though, one factor contributing to a rise in new listings this October was the need for many homeowners to postpone listing their properties for sale last October until damage from Hurricane Ian could be repaired. 

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Oct. 30, 2023

Naples Real Estate Market Report - September 2023 - Pre-Season Buyers Jump on New Inventory During September

Naples, Fla. (October 27, 2023)New listings in Naples during September increased 27.3 % to 937 new listings from 736 new listings in September 2022, making pre-season buyers very happy. According to the September 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), overall inventory continues to inch upward steadily.
For September, inventory for the single-family home and condominium markets increased 13.2% to 2,793 properties from 2,468 properties in September 2022. The report also demonstrated that pre-season homebuying is starting earlier every year as pending sales (homes under contract) in September increased 18.7 % to 735 pending sales from 619 in September 2022 and 687 in September 2019 (pre-pandemic).

Infographics September 2023 - Greater Naples Real Estate

The median closed price in September increased 3%% to $571,500 from $555,000 in September 2022. Interestingly, the September report indicated 723 price reductions compared to 80 price increases during the month. The combination of new listings plus price reductions on existing inventory made September a great month to purchase a home. Historical data in the report confirms prices and competition during the autumn months are lower than in the winter months.

“The report showed the average closed price increased over 13% (month over month) for September,” said Budge Huskey, CEO, Premier Sotheby’s International Realty. “While we are seeing appreciation rates decelerate across all markets, Naples continues to command top values for quality properties.”

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Oct. 9, 2023

Estero to negotiate with engineering firm for new village-wide traffic study

Estero Village Council unanimously ranked Johnson Engineering as the top firm Wednesday to provide professional consulting services for a village-wide traffic study. 

Updating the village’s traffic study will document how traffic has changed over the last six years and identify new areas that need to be improved. 

In recent years, development has boomed in Estero with some residents opposing new developments in the name of traffic congestion and community safety. Incorporated in 2014, Estero’s first village-wide traffic study was completed in 2017.  

“A lot of the improvements noted in that report have already been done,” Public Works Director David Willems said. 

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Posted in Estero, SWFL News
Oct. 9, 2023

Plans for Naples Design District taking shape

The city’s recent unveiling of new street banners represents only a glimpse of what citizens will see coming to Naples Design District.   

“Later on this month, the CRA (Community Redevelopment Agency) will consider a design proposal to design the Design Walk, the pilot Design Walk, which is meant to be an example in the public realm of what this area of town can look like—the activation of alleys, the refurbishing of sidewalks, things like that. So that’s the next thing that’s on our horizon that will be a physical manifestation of what’s to come,” said Naples City Manager Jay Boodheshwar.   

Mayor Teresa Heitmann and Naples Design District President Elizabeth Kurtz unveiled the new banners during a Sept. 29 ceremony and stepped into a bucket truck to hang one of the banners on a streetlight pole in front of The Collective design hub on 10th Street South.   

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Posted in Collier County, Naples
Oct. 2, 2023

Naples Real Estate Market Report - August 2023 - Market Resiliency Fuels Home Sales in August

Naples, Fla. (September 22, 2023) – Inventory is selling quickly, and prices are stable in the Naples housing market. According to the August 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®),  closed sales of homes in Naples during August increased 17% compared to July closed sales, and 1.9% to 702 closed sales from 689 closed sales in August 2022.
Brokers who reviewed the Market Report are confident sales during the second half of 2023 could outperform sales during the second half of 2022, unless we experience another major disaster like a hurricane. Another promising factor that supports this expectation is the steady rate of new listings, which increased 2.6% in August, and contributed to the 7.2% increase in inventory for the month.

Infographics August 2023 - Greater Naples Real Estate

“I see the top of the last economic cycle occurring in the first quarter of 2022,” said Cindy Carroll of Carroll & Carroll Appraisers & Consultants, LLC. “This is when 18 months of rapid appreciation in most market sectors stopped. Historically, a period of correction follows a market peak. However, property values remain stable in most market areas or have returned to our long-term historical trend of 8% per year appreciation. I am searching daily for evidence of wide-spread market decline but have yet to find it.”

The median closed price in August increased 5.2% to $605,000 from $575,000 in August 2022. Though according to the August report, activity in the condominium market fueled many of the increases reported.
As such, there was a 7.7% increase in the median closed price in the condominium market compared to a 2.2% decrease in median closed price for the single-family home market; a 10.1% increase in new condominium listings compared to a 3% decrease in new single-family home listings; and a 25.5% increase in condominium inventory compared to a 3.7% decrease in single-family home inventory.

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