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).

The Lee County Board of Port Commissioners authorized the construction and total budget for the terminal expansion project at Southwest Florida International Airport (RSW) in Fort Myers

at a board meeting Tuesday. The $331 million project focuses on improving the airport’s efficiency by consolidating and streamlining security checkpoints, adding concession space and providing passengers more amenities and options. The terminal expansion project is set to begin in October and construction is planned for three years. The expansion is the second largest public works project in Lee County history, only being surpassed by the airport’s Midfield Terminal Complex construction completed in 2005. The consultant working on design and planning of the RSW Terminal Expansion Project is Atkins North America, Inc. The construction manager/general contractor for the project is Manhattan Construction.
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Southwest Florida tourism is booming despite the spike in COVID-19 cases that the state recently experienced. Lee and Collier counties continue to have a record-breaking year for tourism. Brian Hamman, Lee County commissioner and chair of the Tourist Development Council, said most hotels in the area are booked. "We anticipate our August tourism numbers to be the best August that we have ever had in the history tracking Lee County tourist numbers," Hamman says. "In fact, every month this year has been better than it was even in 2019." In July, Southwest Florida International Airport had more than 7,000 incoming and departing flights, a 51% increase compared to July of last year. (Source: WinkNews)

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Frenzy Fades to a Simmer as Inventory Dips Going into Summer

Naples, FL (July 23, 2021) – With less than a one month supply of inventory available, the Naples area housing market experienced a 14.5% decrease in overall pending sales in June to 1,256 pending sales from 1,469 pending sales in June 2020.

Low inventory levels in June also contributed to a 7% decrease in showings for the month. This simmering of activity has broker analysts who reviewed the June 2021 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), certain that the wild housing market frenzy that began about a year ago – peaking in March – is now decelerating and being replaced with a new level of activity that reflects improved market equity for sellers and sustained buyer interest from people seeking permanent residency.

“Inventory is turning over daily,” said Brenda Fioretti, Broker Associate at Berkshire Hathaway HomeServices Florida Realty. “That’s an important point for buyers to understand because many people think the inventory number we report is all that is available for the month. But that’s not true. Multiple home buying opportunities are a daily occurrence with new listings coming on the market continually. So buyers shouldn’t give up hope when inventory is low because their dream home might become available tomorrow. Though they need to be prepared to move quickly before the home sells.”

According to the report, overall inventory decreased 78.8% to 1,271 homes in June from 6,003 homes in June 2020. As expected going into summer, new listings decreased 12% in June to 1,147 new listings from 1,303 new listings in June 2020. However, in the first six months of 2021, new listings have increased 9.9% to 8,744 new listings compared to 7,957 new listings reported during the first six months of 2020. In fact, the number of new listings during the first six months of 2021 was actually higher than the number of new listings reported in the first six months of any year in the last five years.