Blue skies are back but things are a bit soggy in SWFL from our first tropical storm of the season that delivered a drenching 8” of rain within a 24-hour period! Fortunately wind wasn’t an issue with this storm, just plenty of moisture, which quickly made up for the deficit we were experiencing.
Inflation, drops in the stock market and increasing mortgage rates have been the center of attention in the last month, which have caused some to take a break from our frenzy of a market. Fortunately, real estate numbers are holding up quite well. For perspective, 67% of all transactions are cash, and even a greater % at higher price points, so increased mortgage rates are not having much of a cooling effect on our market. With that said, we did continue to see a significant number of price reductions in May. Reason being, sellers who tried to reach too far above the market needed to make adjustments more in line with the market. In terms of prices, they are still trending up with average sales prices up 38% from last year and the average price per square foot is up 45%. In terms of inventory, the Naples market had 26.2% less inventory this May compared to last year but only had 11.6% less pending sales. This shows the strength of the demand relative to the amount of choices. Finding the right place with such limited options is still a major challenge for buyers. Below are some charts that break down key market indicators by price point:
Naples, Florida just moved two spots, now 2nd on Best Places to Retire in the United States! The beautiful beach town which previously ranked 4th on U.S. News’ list of best retirement cities, now boasts 2nd place on the list dominated by ...
Naples’ style of living embodies relaxation...likely because residents are surrounded by beautiful white sand beaches, lush tropical scenery, Southwest Florida championship golf courses, elaborate fine dining options, a robust arts community ...
Explore Naples Florida rich art scene with us! Each year Naples witnesses an influx of individuals from all over the country who seek the area's natural beauty...and the plethora of cultural venues and events. Residents’ demands over the years ...
Park Shore Naples was developed in the 1960s on 1.3 miles of beachfront, along Park Shore Drive, Gulf Shore Boulevard, Crayton Road and out to 41 or Tamiami Trail. Properties start around $400k for a quaint condominium and top off around $15M (except for a few exceptional properties – see details on $35M condo for sale below). Square footage ranges from 800 square feet to over 8,000 square feet for a gorgeous and luxurious penthouse with stunning turquoise water views. Whether purchasing a beachfront condo, charming cottage home or bayfront single family estate home, Park Shore is a wonderful place to raise a family, work and enjoy all that Naples has to offer its residents!
Park Shore Market Stats
Single Family Homes: 28 homes closed over the last 6 months at an average sales price of $4,815,339 ($1,341 per square foot) and an average size of 3,328 square feet. The most expensive home sold in the last 6 months was $14,995,000 ($2507 per square foot), a waterfront estate built in 2017 on 0.34 acres with almost 6000 square feet of living space, 5 bedrooms + den. The same home sold in 2018 for $6,900,000
Condominiums: 149 condos closed over the last 6 months at an average sales price of $2,467,168 ($952 per square foot) and an average size of 2,280 square feet. The most expensive condo sold in the last 6 months was $16,700,000 ($1,386 per square foot) a penthouse within Regent, a 24-story beachfront high-rise built in 2002. The unit offered 12,050 square feet of living, 5 bedrooms + den and spectacular direct views of the Gulf of Mexico.
Single Family Homes: There are 10 homes pending in Park Shore with asking prices from $2,556,000 to $5,995,000.
Condominiums: There are 22 condos pending in Park Shore with asking prices from $425,000 to $6,300,000.
Single Family Homes: There are 17 homes on the market in Park Shore ranging from $1,799,000 to $15,995,000. 5 of the 17 homes for sale are new construction and 4 of the 5 are waterfront properties that range from $12M to $16M.
Condominiums: There are 30 condos available in Park shore ranging from $540,000 to $35,000,000. No that’s not a typo, check out the listing and 4 minute video of the $35M modern masterpiece on the bay in Park Shore.
There is one vacant lot on the market, a 0.31 acre lot on Crayton Road for $3.45M. There was one vacant lot sold in the last 6 months, a 0.29ac parcel on Neapolitan Lane which closed for $2.5M 1/3/22.
Join our Southwest Florida Lifestyle feed at @mattbrownrealestate. Our other social media links are below. 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 Real Estate. Matt has a vast network of other trusted professionals nationwide from his two decades in the business as well as through Christie’s International Real Estate, 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 email@example.com.
MATT BROWN REAL ESTATE AGENT
SWFL & Naples Real Estate Agent
If we haven’t connected yet, please reach out. I have built a 19+ year real estate career on integrity, honesty, knowledge and highly ethical practices, which has helped me close over $550 million in real estate sales and skillfully negotiate over 100 multiple-bid situations. I work with buyers and sellers along the Gulf Coast in Naples and Southwest Florida.
For Exclusive News & Market Updates
Newsletter Sign Up
Established in 1974. $9 billion in annual sales. William Raveis Real Estate is the No. 1 family-owned real estate company in the Northeast and Florida and the No. 8 real estate company in the country, according to REAL Trends. As leaders in marketing luxury properties, locally and globally, William Raveis assures customers receive world-class marketing and technology services as well as the additional benefit of direct access to 127 offices and over 4,000 sales associates in the Northeast, where a significantly growing number of buyers are coming from. Recognized as the Top Luxury Brokerage in the United States by Leading Real Estate Companies of the World. 130,000 sales associates • 565 premier real estate firms • Over 65 countries • 1 winner.