Naples, FL (March 24, 2021) – Increased Demand in February Shows Homebuyers Recognize a Great Value

Broker analysts reviewing the February 2021 Market Report were not surprised at the increased momentum as many report buyers are scooping up the available inventory of homes in all geographic locations within Naples almost as fast as they come onto the market.
Inventory fell 68.8% in February to 2,224 homes from 7,127 homes in February 2020.

 Single-family homes continue to be in high demand so, according to the report, many buyers pivoted to condominiums in February. As a result, the condominium market experienced a 75.7% increase in closed sales and a 66.6% decrease in inventory. In fact, condominium sales in February 2021 eclipsed its comparable sales in any month over the past 15 years.

 “This is not a housing boom as many people suggest,” said Spencer Haynes, Vice President of Business Development and Broker. “I consider it a ‘market correction,’ as our area has simply been undervalued until now and it is finally experiencing its due appreciation.”

Lumber and other construction supplies have gotten so expensive that some builders won't build new homes now. Many homes are under construction in places like Cape Coral, but no one is working on them. Not because of a shortage of desire but a shortage of materials. There has been a considerable rise in the cost of materials and some items such as aluminum, lumber and appliances are becoming more difficult to acquire. One reason we are seeing these price hikes and delays in completion is because of the pandemic. There are lockdowns and safety protocols in factories and also tariffs...

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The House floated “a suite of bills” to address climate change, including a tax break for owners who elevate homes and money for local governments that create programs. Gov. DeSantis proposed changes earlier, but many differences must now be worked out.

TALLAHASSEE, Fla. – Under proposals announced Friday by Florida House Speaker Chris Sprowls, R-Palm Harbor, Floridians would be asked to approve a tax break for people who elevate their homes to avoid the threat of flooding, and up to $100 million a year would be set aside to help local governments combat rising sea levels.

The 2021 legislative session begins Tuesday, following a proposal by Gov. Ron DeSantis to provide $1 billion over the next four years to state and local agencies for “resiliency” projects that help combat the effects of climate change.

Naples, FL (February 24, 2021) – No Home Left Behind: Buyers Descend on Naples Housing Market in January.

Buyers fleeing frigid weather descended on Naples in full force during January, which reported a 38.5% increase in overall pending sales (homes under contract) to 2,210 pending sales from 1,359 pending sales in January 2020, according to the January 2021 Market Report, released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island).
Not surprisingly, as a result of impressive activity during the fourth quarter of 2020, overall closed sales in January increased 49.7% to 1,109 closed sales from 741 closed sales in January 2020, leaving agents with 2.6 months of inventory at the end of the first month of the new year.

Florida Realtors’ data: Single-family home sales rose 18% year-over-year, median sales price up 15.1%; condo sales up 24.6%, median price up 15%. Chief Economist O’Connor: Closed sales in Jan. were “way, way above our historical average,” which is likely for most, if not all, of 2021.

ORLANDO, Fla. – Florida’s housing market continued to show momentum in January even with the ongoing pandemic, with more closed sales, rising median prices, more new pending sales and increased pending inventory compared to a year ago, according to Florida Realtors® latest housing data. Single-family existing home sales rose 18% compared to a year ago.

“2021 began with the same market conditions we saw over the previous months, such as very low mortgage rates, high buyer demand and a lack of inventory,” said 2021 Florida Realtors President Cheryl Lambert, broker-owner with Only Way Realty Citrus in Inverness. “This shortfall in inventory continues to put pressure on home prices. However, new pending sales increased 16.9% for single-family existing homes last month compared to January 2020, while new pending sales for condo-townhouse units rose 32% year-over-year.”

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.

View Complete Info and Homes For Sale in WildBlue.

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.