Naples, FL (January 22, 2021) - Housing Market Demand Continues to Outpace Inventory in December.

Eager homebuyers did not waste any time in December as shown by pending sales for homes in the Naples area which leaped 88.6% to 1,535 pending sales (homes under contract) from 814 pending sales in December 2019.
This spike in buyer interest was also reflected in the 65% increase in showings during December, which amounted to an average of 10 showings per listing.
According to the December 2020 Market Report, released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), inventory continued to struggle to keep up with growing buyer demand. The number of available homes for sale in December 2020 decreased 49.1% to 3,140 homes from 6,163 homes in December 2019.

Overall sales in December increased 45.4% to 1,396 closed sales from 960 closed sales in December 2019. “As a direct result of the effects of the pandemic, 2020 was one of the first years in history where we saw more buying activity in the second half of the year than during the first half of the year,” said Mike Hughes, Vice President of Downing-Frye, Realty, Inc.

Florida Realtors December. data:
More closed sales (single-family sales up 21%, condo-townhouse sales up 27.7%), more new pending sales, higher median prices and more new listings year-over-year. Chief Economist O’Connor: Higher pending sales “strongly signal” higher closed sales into 2021.

ORLANDO, Fla. – Despite the ongoing pandemic and a still struggling jobs outlook, Florida’s housing market in December showed more closed sales, more new pending sales, higher median prices and more new listings compared to a year ago, according to Florida Realtors® latest housing data. Single-family existing home sales rose 21% compared to a year ago.

“The strength and resilience of Florida’s housing market in 2020 has been remarkable – even with the challenges caused by the ongoing global pandemic and the resulting economic turmoil, the market in December ended on a high note,” says 2021 Florida Realtors President Cheryl Lambert, broker-owner with Only Way Realty Citrus in Inverness. “Mortgage rates remain historically low and there’s great interest from buyers throughout the state. However, a continued shortage of for-sale inventory is having an impact on prices and attainable, affordable housing.”

In December, closed sales of single-family homes statewide totaled 30,478, up 21% year-over-year, while existing condo-townhouse sales totaled 12,752, up 27.7% over December 2019. Closed sales may occur from 30- to 90-plus days after sales contracts are written.

Naples, Fla. (December 18, 2020) - Upward Trend in Naples Real Estate Market Continues.

According to the November 2020 Market Report, released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), the Naples real estate market continues to see an upward trend in both showings and closed sales.

In November 2020, there were 36,508 showings, which represents a 43% increase over the same period in 2019. Closed sales for the overall market increased 58.8% to 1,126 closed sales in November 2020, up from 709 closed sales in November 2019.

The sustained market demand is placing pressure on real estate pricing, with notable increases in median and average closed prices of homes when comparing month over month statistics.

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Amenities are under construction and taking form at WildBlue!
The Amenities Center is being built on a peninsula overlooking Wild Blue Lake, the largest lake in WildBlue.

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Naples, Fla. (November 20, 2020) - Naples Real Estate Market Sees Another Record Month in Closings

According to the October 2020 Market Report, released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), the Naples real estate market continues to see strong demand in both the single family and condominium markets. Buyers are getting a jump on the winter seasonal market as shown by the reduced inventory, increase in multiple bids and the jump in closed sales.
Closed sales activity for the overall market increased 65.2% to 1,249 closed sales in October 2020 from 756 closed sales in October 2019.

Florida Realtors’ data: Single-family home sales up 26.9% year-over-year, median sales price up 15.6%; condo sales up 30.3%, median price up 15.9%. Chief Economist O’Connor: Strong and persistent demand, coupled with worsening inventory shortages, continued to drive up home values.

ORLANDO, Fla. by Marla Martin – Florida’s housing market continued to be a bright spot for the state’s economy in October, even as the coronavirus pandemic showed no signs of easing. More closed sales, more new pending sales, higher median prices and more new listings were recorded statewide last month compared to October 2019, according to Florida Realtors® latest housing data. Single-family existing home sales rose 26.9% compared to a year ago.

“2020 will be known for a lot of things, and a record-breaking year for real estate will certainly be one of its more unexpected legacies,” prominent economist Daryl Fairweather said.1 And he’s right: most of us would have expected the housing market to suffer from circumstances like a once-in-a-hundred-years pandemic and historic inventory shortages. 

But, rather than a slowdown, we are continuing to experience a surprisingly robust real estate market across the country. And experts estimate that these conditions are likely to last well into the new year. Fannie Mae Senior VP and Chief Economist Doug Duncan predicts that existing home sales will ultimately “be up a percent or more in 2021.” He believes home prices will continue to rise due to limited inventory, but he is confident the Federal Reserve will keep interest rates low into the future, which will be “very good for households.”2

Market conditions like fewer available listings, changing criteria for desired homes, and record-low mortgage rates are changing the way people buy and sell homes, most likely in a lasting way. But this sustained activity, even in the uncertainty that is 2020, proves that our country still views real estate as a sound investment. The only question now is how you can take advantage of the housing market’s “new normal.” 

Floridians passed Realtor-supported Amendment 5, giving sellers up to three years – an increase from two – to transfer accrued property tax benefits to a new home.

TALLAHASSEE, Fla. – After passage of a Florida constitutional amendment this year on property taxes, Floridians now have three years – an increase from two years – to transfer (port) any accrued property tax benefits to a new home.

But it’s not usually a full three years, just as it wasn’t a full two years under the previous version of the law.

Sellers who plan to port tax assessment savings to a new home think that if they sold their first home in November, they now have three full years to buy a home and port the savings. But since “years” in the law refers to Florida tax years, the first “year” ends the following Jan. 1 – two months later. In this case, that November seller would have two years and two months to port tax savings.

By Kerry Smith

Inventory remains tight, but realtor.com’s weekly housing report suggests that supply may be slowly moving a bit closer to demand as more current owners decide to move.

SANTA CLARA, Calif. – Despite the continued trend of record low inventory and unheard of price gains, the long overdue seasonal slowdown may be finally taking hold, according to realtor.com’s Weekly Housing Report for the week ending Oct. 24.

The report found continued improvement in newly listed homes and a slight softening in buyer interest. It’s not a market turnaround, but it suggests that a more balanced market between buyers and sellers might be on the far horizon.

It could also be a slight relief for some buyers looking for a home during the last two months of 2020.

Kitson & Partners announced that sales have surpassed 900 new homes in Babcock Ranch, America’s first solar-powered town located just northeast of Fort Myers on Babcock Ranch Road/State Road 31.

Babcock Ranch recently commenced vertical construction at Crescent B Commons, the 82,640-square-foot Publix-anchored shopping center underway at a new entrance to Babcock Ranch about one mile south of the signature Babcock Ranch bridge.

Babcock Ranch began marketing new homes in 2017, with the first residents moving into the town in January 2018. Today, Babcock Ranch offers homes from nine homebuilders in seven neighborhoods.

Kitson & Partners created Babcock Ranch with respect for the natural environment and the philosophy that smart growth and sustainability work hand in hand. 

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