Market Resiliency Fuels Home Sales in August
Naples, Fla. (September 22, 2023) – Inventory is selling quickly, and prices are stable in the Naples housing market. According to the August 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), closed sales of homes in Naples during August increased 17 percent compared to July closed sales, and 1.9 percent to 702 closed sales from 689 closed sales in August 2022. Brokers who reviewed the Market Report are confident sales during the second half of 2023 could outperform sales during the second half of 2022, unless we experience another major disaster like a hurricane. Another promising factor that supports this expectation is the steady rate of new listings, which increased 2.6 percent in August, and contributed to the 7.2 percent increase in inventory for the month.
“I see the top of the last economic cycle occurring in the first quarter of 2022,” said Cindy Carroll of Carroll & Carroll Appraisers & Consultants, LLC. “This is when 18 months of rapid appreciation in most market sectors came to a halt. Historically, a period of correction follows a market peak. However, in most market areas, property values remain stable or have returned to our long-term historical trend of 8 percent per year appreciation. I am searching daily for evidence of wide-spread market decline but have
yet to find it.”
The median closed price in August increased 5.2 percent to $605,000 from $575,000 in August 2022. Though according to the August report, activity in the condominium market fueled many of the increases reported. As such, there was a 7.7 percent increase in the median closed price in the condominium market compared to a 2.2 percent decrease in median closed price for the single-family home market; a 10.1 percent increase in new condominium listings compared to a 3 percent decrease in new single-family home listings; and a 25.5 percent increase in condominium inventory compared to a 3.7 percent decrease in single-family home inventory.
Typically, one of the slower months for activity, August’s showings decreased 19 percent to 21,269 showings from 26,191 showings in August 2022, which might also explain the 9.4 percent decrease in pending sales in August to 811 from 895 in August 2022.
“Days on market have been hovering around 50 since December 2022,” said Adam Vellano, a Naples Sales Manager at Compass Florida. “Before the pandemic, it was at 90-100 days.” For August, the report showed 54 days on market compared to 31 days on market in August 2022.
The NABOR® August 2023 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. NABOR® sales statistics are presented in chart format, including these overall (single-family and condominium) findings for 2023:
Mark H. Bickel | Naples Daily News
High ratings for customer satisfaction can be challenging to attain, especially for airports where lately there have been a record number of passengers, pilot shortages and countless weather delays and cancellations.
At Southwest Florida International Airport (RSW) the challenge has been met. The Fort Myers airport is being recognized again as one of the best airports for customer satisfaction, according to the 2023 J.D. Power North American Airport Satisfaction Study.
RSW, which celebrated its 40th anniversary in May, was ranked No. 2 overall in the medium airport category with a overall customer satisfaction index score of 839 (base on a1,000-point scale). This was one place higher than 2022. RSW tied for third with Jacksonville International Airport (JAX) last year (826 points).
The J.D. Power study measures overall traveler satisfaction with mega, large and medium North American airports by examining six factors (in order of importance):
- terminal facilities
- airport arrival/departure
- baggage claim
- security check
- check-in/baggage check
- food, beverage and retail
There’s more to this story on naplesnews.com.
Flying into southwest Florida? Get in touch with David to find your perfect home. David@DavidFlorida.com or 239-285-1086.
by Laura Layden | Naples Daly News
The first rooftop restaurant on Fifth Avenue South in downtown Naples is three steps closer to reality.
On Wednesday, City Council approved a conditional use for the establishment of Prime Social. Then signed off on the applicant’s petitions for parking and outdoor dining.
During the discussions, Council asked pointed questions of city planners and attorneys, and of the applicants and their team.
Ultimately, Council voted 6-1 in favor of granting a conditional use.
Restaurant has been years in the making
More than two years ago, City Council adopted an ordinance to allow for rooftop restaurants, which “exclusively occupy the second or third stories in existing buildings,” within the 800 block of Fifth Avenue South, with the approval of a conditional use. It did so at the applicant’s request, viewing it as a “pilot project.”
The plans have greatly evolved over time from a rather simple sports bar to a top-quality restaurant.
The restaurant’s outdoor dining will include 21 tables, with 94 seats.
The eatery will be one of the largest on Fifth Avenue – at roughly 7,800 square feet.
Read why the ‘Approved design is ‘far superior'” and all the details about the planning permissions. and check out the renderings of the restaurant.
Find a home convenient to the many excellent dining in southwest Florida. Contact David at David@DavidFlorida.com or 239-285-1086.
Robyn George | Fort Myers News-Press
If all goes according to plan, Sanibel Island will be welcoming two new restaurants in November.
Brian and Elke Podlasek, owners of The Island Cow, and The Mad Hatter owners Max and Bridget Kolshak announced they are teaming up to open Wickie’s Lighthouse Restaurant and The Magic Bus Caffeine & Creamery.
Even before losing their restaurants, the couples were friends. They decided to become partners when an opportunity on the east end of the island came up.
“It’s been a tough year to say the least and this is a great comeback story of two business owners who lost everything coming together to bring the island some great new venues for amazing food and fun,” Brian Podlasek, whose Island Cow restaurant closed in August 2022 after severe fire damage, said in a news release.
The Magic Bus will mix new and old, offering modern coffees, drinks and bakery items with a vintage ice cream and candy store vibe, complete with Volkswagen-inspired décor.
“Both concepts are a nod to the past with an eye to the future,” Max Kolshak, whose Mad Hatter was destroyed by Hurricane Ian, said in the release. “Wickie’s honors the history of the island and its original lighthouse keepers, Dudley Richardson and Henry Shanahan, but with a modern, updated décor and a fresh, coastal dining experience. A few doors down, The Magic Bus serves up nostalgia with a modern twist.”
More about Wickie’s here.
Find a home in southwest Florida. Contact David at David@DavidFlorida.com or 239-285-1086.
Mark H. Bickel | Fort Myers News-Press
When the leaves start changing colors up north, airlines start adding more routes to warmer climates like Fort Myers.
Breeze Airways announced today (Sept. 13) it is adding new service to and from Portland, Maine starting on Nov. 15 at Southwest Florida International Airport (RSW).
The new winter/spring seasonal route will operate on Wednesdays and Saturdays with an introductory fare of $89 one way, available for purchase through Sept. 18 for travel through April 30, 2024.
Check the Breeze Airways website for more information about fares and other services.
Read more about Breeze Airways Fort Myers flights.
Flying into southwest Florida? Get in touch with David to find your perfect home. David@DavidFlorida.com or 239-285-1086.
