I hope everyone is enjoying the summer and staying cool! It sure is hot here in FL but with smaller crowds, coastal breezes and afternoon storms to cool things off a bit, many are finding SWFL enjoyable to visit even in the warmer months. We are seeing a record # of summer visitors.
Inventory! It’s just keeps shrinking and there are quite simply not enough properties available for sale to keep up with the high demand across all price points and housing types making it a challenge for buyers to find the right fit for their tastes and requirements:
Overall, the Naples area market has 0.9 months of inventory, down from a 7.3 month supply of homes a year ago moving from 6,003 properties for sale to only 1,271!
The volume of new listings has actually increased 10% from last year over the 1st half of 2021 but still hasn’t been able to curb the shrinking supply.
The lack of supply has started to constrain the volume of sales as pending sales have decreased 14.5% from the surge of activity experienced last June.
Examples: Currently, there are only 3 properties on the market in Grey Oaks (out of 900) , 11 in Mediterra (out of 900+), 8 in Port Royal (out of 600+), 19 in Bonita Bay (out of 3300) and only 35 in Pelican Bay (out of 6000+ residences).
Across Naples & Bonita Springs, sales prices have increased on average 23% from $655k to $807k over the last 12 months.
In the luxury market West of US41, average single family sales prices increased 12% to $4.09M and condominium pricing remained relatively the even at $2.11M compared to one year ago.
A true community with over 6,500 residences in 95 associations.
A diverse range of homes covering everything from condos of all kinds to magnificent private homes in neighborhoods or gated communities.
The fabulous private beach club with tram service through Clam’s Pass for easy access, fitness classes, beachside dining at 2 restaurants, and 3 miles of North and South Beach paradise (the tram cars/system makes 900,000 trips annually for residents and visitors). The clubs are well maintained, attended with lounge chairs and umbrella service, making it easy to relax.
A golfing haven – Club Pelican Bay is home to 27 championship holes and is one of the top private golf communities in Naples.
A vibrant tennis community with tennis leagues, round-robins, professional instruction, or special events, there is something for every ability level across 18 courts.
High-quality community amenities – Owners in Pelican Bay also enjoy a beautiful community center, fitness center, and wellness studio.
Pelican Bay Real Estate Highlights
The Pelican Bay neighborhood is approximately 3 miles North to South along the Gulf of Mexico and 1 mile from East to West from US 41 to the waterfront.
Pelican Bay currently consists of over 700 single family houses and 5,550 condominiums covering 3.25 square miles with 88 acres of parks and recreation green space.
72 single family homes sold over the first 7 months of 2021 within Pelican Bay at an average sale price of $3.74M ($844/SF) and an average home size of 4,029 SF. Average sales prices are up 42% from $2.66M and up 24% per square foot to $679/SF.
336 condominiums sold YTD 2021, a volume already exceeding the sales for all of 2020, 319 units. Average sales prices were $1.38M ($588/SF) and an average of 2088 SF of living space. Average prices are up 10% and up 9% per square foot to $588/SF.
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 Southwest Florida. U.S. News analyzed data for the 150 largest ...
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, and a variety of shopping venues (which includes luxury ...
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 have resulted in a nice supply of art classes, events, exhibitions and ...
How low can inventory go? If you look at the chart below, it sure looks like we are headed to zero!
There are typically 10k to 12k properties for sale in Collier County and 7k to 9k properties for sale in Lee County for a total inventory of 17k to 21k, currently there are only 2.8k properties on the market, 1162 in Collier County and 1652 in Lee County!
New vs Closed Listings $1M+
Number of homes closed in 12 months ending 4/30/21 up 87%; condos up 99%.
Current home inventory is 2.9 months of supply; condo inventory is 2.4 months.
Full report detailed here. Stats include Naples luxury market; properties from Port Royal to Bonita Beach Rd, West of 41.
Overal Inventory ⬇️
Despite Naples low inventory levels, we have seen a 106.2% increase in new listings compared to April 2020.
Since January, the Naples area housing market has enjoyed a 14.3% increase in new listings.
Bottom Line: Buyers shouldn’t give up searching for a home, paradise is waiting for you…
During a meeting to review the May 2022 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), long-time Naples broker Bill Coffey, Broker Manager of Amerivest Realty ...
A new and helpful home buying program ‘Hometown Heroes’ or HTH went into effect on June 1st. This program offers 5% down payment assistance (up to $25K) for frontline workers. There are over 50 careers that qualify for the program! This program offers 5% down payment ...
The Naples and Bonita Springs May 2022 Market Report includes luxury properties valued over $1 million dollars and properties which are West of 41 from Port Royal to Bonita Beach Road. Single-family homes vs condominiums are detailed separately ...
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.
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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.