Naples & SWFL Real Estate
January 2023 Newsletter
Happy New Year! I hope you all made it through your holiday travels without too much trouble, the epic “bomb cyclone” storm certainly wreaked havoc across the country and even brought temperatures down into the 40s in Naples for a couple days. Happy to report we kicked off the New Year in Naples in the mid-80’s and are now experiencing some glorious sunny 70’s temperatures with low-humidity. Forecast for this week (come visit if you can!):
Many of the beaches in Naples and Collier County have reopened and currents/tides have naturally cycled out the waters but officials are still urging caution as shifting sands might expose previously buried debris. Naples Beach Access Update & Collier County Openings and Closures.
Exciting news about the Naples Pier: Naples City Council has given approval to rebuild the iconic Naples Pier instead of repair it which will provide the opportunity to redesign and improve the pier’s look, resiliency and function. https://www.gulfshorebusiness.com/city-of-naples-to-pursue-redesign-of-entire-naples-pier/
Market Update
📊 Naples average sales prices continued to climb in December with the average property selling for almost $1.1M and $465 per square foot, 40% higher PSF than 12 months prior. 762 new listings came on the market in December and 583 went pending, leaving 2456 properties for sale which represents a 2.9 month supply, up 222% from the ultra-low inventory we had 1 year ago but still well within a seller’s market level and less than half the 6.9 months of inventory we had pre-pandemic. Properties stayed on the market for an average of 49 days and buyers were able to negotiate 3.5% from the asking price on average. Looking forward, we expect the number of new listings and as well as pending sales increase significantly in January which is typically the most active month of the year for new listings.
I have been closely monitoring listings of Hurricane Ian damaged homes and have tracked more than 100 properties listed in Naples above $1M. Quite a few rare waterfront and beachfront lots have been offered for sale for the first time in many years as these homes were built decades ago at a lower elevation than what is required today. To meet current FEMA and building code regulations, most will need to be rebuilt and are being sold at lot value, providing a unique opportunity to buyers looking to build a new home. Naples buyers have shown a considerable appetite for these properties considering that approximately 55 out of 120 listed > $1M have either sold or are pending. Please reach out if you would like to consider buying a parcel and building a new home in Naples.
Market Reports
Including previous months published market reports for Naples, Bonita/Estero and Marco Island.
Search Current Inventory
Filter, view and discover Southwest Florida’s current market inventory (includes Marco Island, Bonita Springs, Estero and Naples properties).
Follow Matt on Instagram
Join our Southwest Florida Lifestyle feed at @mattbrownrealestate. We are active on LinkedIn, Facebook and Twitter.
If you are outside of Southwest Florida and wish Matt’s twin was local in your market, please continue to reach out to Matt Brown Naples William Raveis. Matt has a vast network of other trusted professionals nationwide from his two decades in the business as well as through Leading Real Estate Companies of the World, Who’s Who in Luxury Real Estate and Luxury Portfolio International of which he is affiliated.
If you’re looking for a luxury home Naples, Florida, Matt Brown has the luxury market experience you desire, the in-depth market data knowledge you appreciate, the connections to aid in smooth transactions and the relationships to help find your next luxury home, even before they hit the market. Contact Matt today for advice on the Real estates of Naples. He can be reached at 239-580-8864 or matt.brown@raveis.com.
