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Eight figures: Sanibel mansion on market is most expensive house for sale in Lee County

Eight figures: Sanibel mansion on market is most expensive house for sale in Lee County

Mark H. Bickel | Fort Myers News-Press

When you hear that the price of a house in Lee County is listed for just north of $44 million, it’s halting.

But when you learn about the location and the amenities and all of the other bells and whistles for the gorgeous property, it starts to make sense why this mansion has the most expensive asking price of any house in the county with an asking price of $44,880,000.

Here’s what to know about Lee County’s most expensive house for sale
According to the listing by Ryan Serhant of Million Dollar Listing New York and Owning Manhattan, and Naples Based Broker, Tiffany McQuaid:

THE PITCH: “This exceptional property combines luxurious living with breathtaking natural beauty, making it an ideal sanctuary for those seeking an exclusive beachfront lifestyle that spans across 700 feet of unobstructed prime beach frontage. ”

  • Where is it: Sanibel Island
  • Address: 6111 Sanibel Captiva Road
  • Number of bedrooms: 5
  • Number of bathrooms: 6
  • Square footage-living space: 11,000

Architecture
The residence showcases high-end finishes and meticulous attention to detail throughout.
The gourmet kitchen is complete with walk-in cooler, top-of-the-line appliances, spacious full bar, butler’s pantry, a dream worthy center prep island, and the Gulf serving as the backdrop for the most unforgettable gatherings.

Floor plan
The split floor plan places the primary retreat on the opposite end of the home.
This space features a private balcony, a remarkable fireplace, and a spa-like ensuite bathroom with separate vanities and latrines for the utmost privacy. The suite also boasts an additional office/ sitting room along with a half bathroom and walk through closet.

What about the swimming pool? Read the full article on naplesnews.com.

For information about luxury properties and to view luxury homes for sale in Sanibel, Port Royal, Aqualane Shores, and other Naples areas contact David at 239-285-1086 or David@DavidFlorida.com

NABOR Market Report | May 2024

NABOR Market Report | May 2024

Price Climb Slows as Inventory Heats Up for Summer

Naples, Fla. (June 28, 2024) – As competition grows in the Naples housing market ­– overall inventory increased 67.1 percent in May to 5,019 properties from 3,004 properties in May 2023 – monthly closed sales for the month decreased 12.2 percent to 907 closed sales from 1,033 closed sales in May 2023. Broker analysts reviewing the May 2024 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), are closely monitoring the number of monthly price decreases to see whether it could turn the tide and improve sales this summer. One thing was certain in the May Market Report: summer buyers will have many more options than winter buyers.

In addition to 1,710 price decreases reported in May, the median closed price was $650,000, the same as the median closed price reported in April, which enjoyed 2,365 price decreases. Comparatively, the median closed price increased 8.3 percent to $650,000 from $600,000 in May 2023.

Another benefit of rising inventory and list price decreases has been the rise in the number of properties for sale in the lower end of the market. For May, properties in the $300,000 and below price category increased 104 percent to 308 from 151 in May 2023. Similarly, properties for sale in the $300,000 to $500,000 price category increased 90.1 percent to 1,032 from 543 in May 2023.

NABOR Market Report May 2024 chart

A Different Seller/Buyer Dynamic

Unlike other cities in the U.S. where home sales are driven by people relocating for work, Naples has always been a lifestyle destination. “People live here because they want to. People are not moving here for jobs,” said Kunkle. In response, Mike Hughes, Vice President and General Manager for Downing Frye Realty, Inc., added, “That means we have a different mix of sellers and buyer here. A majority of our sales are second homes. That said, these sellers don’t have an urgency to sell or won’t risk someone stealing it. On the other hand, second home buyers don’t have an urgency to buy because they have the time and cash to wait until they find exactly what they want.” Another challenge for buyers and sellers in Naples during 2024, and across Florida, will be condominium sales. As Jillian Young, President, Premiere Plus Realty, explained, “By December 31st, the structural integrity reserve law requires all Florida condominiums three stories and higher and 25 to 30 years old have a milestone inspection and use the results to guide them to maintain financial reserves that will pay for future maintenance, inspections and repairs. The burden to raise these funds will require mandatory assessments on current and future owners. Sellers will need to take into account the additional cost to maintain the reserves.”

Geographic Standouts

In May, the median closed price for a single family home in the Naples Beach area (34102, 34103, 34108) decreased 26.1 percent to $2,262,500 from $3,062,500. Conversely, the median closed price for a single family home in the South Naples area (34112, 34113) increased 43.6 percent to $930,000 from $647,500. The lowest median closed price reported during May was in the Central Naples (34104, 34105, 34116) condominium market, which increased only 1.4 percent to $355,000 from $350,000 in May 2023.

For more information about buying or selling a home in the Naples, Bonita Springs, Marco Island area contact David at 239-285-1086 or David@DavidFlorida.com.

Luxury home in Moorings near downtown Naples sells before auction for undisclosed price

Luxury home in Moorings near downtown Naples sells before auction for undisclosed price

Laura Layden | Naples Daily News

A luxury home in the much-sought-after Moorings community sold a few days before going to auction.

“The auction is now canceled. Our goal has been achieved,” said Randy Haddaway, founder and CEO of Elite Auctions in Naples.

The owners hired his company to do the auction, as a way to drum up more interest in a cooling market.

On Friday, they accepted an undisclosed offer. It’s “without contingencies” and will close in 30 days, Haddaway said.

At auction, the home, described as the “very epitome of fine Southwest Florida living,” would have gone to the highest bidder.

Located at 445 Putter Point Drive, minutes from downtown Naples, the nearly 5,000-square-foot home was “well maintained,” with “no distress whatsoever,” Haddaway said.

The sellers were just “ready to move on,” he said.

The home, with five ensuite bedrooms, includes a total of five-and-a-half bathrooms, and an office, with a three-car garage. It’s close to the beach and the Village Shops on Venetian Bay, a popular shopping and dining destination.

After word spread about the auction, more than 100 people toured the property – in just two weekends – and nearly 70 prospective buyers called in for more information about it.

For more details about this luxury property read on naplesnews.com.

To view luxury homes in Naples, Bonita Springs & Marco Island, Florida contact David at 239-285-1086 or David@DavidFlorida.com

NABOR Market Report | April 2024

NABOR Market Report | April 2024

Inventory Hike Helps April Home Sales Swell

Naples, Fla. (May 31, 2024) – The payoff of months of rising inventory was finally realized in April as closed sales increased 3.8 percent to 999 closed sales from 962 closed sales in April 2023. This is the first month closed sales have exceeded past years’ monthly comparable sales since June 2021. According to the April 2024 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), the 2,365 price reductions in April stimulated sales in the right direction. Growth in inventory does not appear to be slowing down either, as new listings in April increased 16.3 percent to 1,335 new listings from 1,148 new listings in April 2023.

The New Average

Demand for the Naples lifestyle increased during the pandemic, which depleted inventory for homes in the under $300,000 market – there were 315 homes for sale under $300,000 in April. Conversely, demand for luxury properties have soared, especially in the $500,000 to $1.5 million price category, which increased 68.1 percent compared to April 2023 and occupy the highest number of properties available (2,410) in the current inventory.

However, according to the report, closed sales influencing the overall average price growth was in the Naples Beach area. For April, the average closed price of single family homes in communities located in the Naples Beach area (34102, 34103, 34108) increased 61.6 percent to $4,309,475 from $2,666,512 in April 2023. That said, this area was also where a large majority of properties sold for less than original list price as the percent of list price received decreased to 93.3 percent for single family homes and 94.8 percent for condominiums. This indicates sellers are reducing prices to meet the market.

Future Fit & Forward

According to the April report, the average monthly inventory in Naples is back to its familiar pre-pandemic level. April’s inventory increased 68.1 percent to 5,240 properties from 3,118 properties in April 2023. And the months supply of homes is up to 7.3 months. Huskey commented, “Typically, we begin to see prices slide once the months supply gets above 6 months, but we’re not seeing this in our market today. Inventory is growing, and prices remain stable.”

“Home values have doubled since 2019,” said Cindy Carroll of Carroll & Carroll Appraisers & Consultants, LLC. “And there’s no indication that homeowners are at risk of losing this growth in value.”

Carroll went on to say that there will be spots in the county that will experience a slight loss in value, but nothing on a large scale or that would take us back to pre-pandemic prices. “I am unable to find anything in my research that is alarming. The thing we have to focus on now is re-educating our sellers on home prices today. Their home’s value has likely increased, but the number of price reductions each month tells me that prices are still starting out too high. If a home is not priced competitively when it’s listed, sellers will likely need to lower the price to meet the market.”

As more high-end buyers discover the allure of Naples, broker analysts do not foresee the median closed price decreasing dramatically. For April, the overall median closed price increased 4 percent to $450,000 from $425,000 in April 2023. Though price adjustments are moving the needle in certain markets. April reported 2,365 price decreases, which decreased the median closed price 3.2 percent in the single family home market to $793,750 from $820,000 in April 2023.

The NABOR® April 2024 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 2024:NABOR Market Report April 2024 chart

Looking for a home in Naples – Bonita Springs – Marco Island areas? Contact David at 239-285-1086 or David@DavidFlorida.com.

What’s the lowest priced home on Naples beach?

What’s the lowest priced home on Naples beach?

Phil Fernandez | Naples Daily News

Most of the time we have folks bragging to us about the most expensive this, the priciest that. We are in Collier County after all.

And these days, a $6 million abode directly on the Gulf of Mexico is a bargain. Really, truly.

That happened to be Collier’s cheapest single-family gulf house for sale this month after it was listed by Sue Black and Kathryn Tout of Premier Sotheby’s International Realty’s Village office, according to the firm. A total of $5.95 million to be exact.

Built in 1987, 4720 Villa Mare Lane features 3 bedrooms, 4.5 bathrooms ― never know where you’ll be within its 2,877 square feet when nature calls ― and a two-car garage..

What are five most expensive beach spots for sale in Naples right now? What are the priciest homes in Lee County at the moment? Read on naplesnews.com to find out.

After Ian, when do bookings begin at Lani Kai?

Is it true Lani Kai has set a date for when it is to reopen? Find out on naplesnews.com.

Are you dreaming of a beachfront home in Naples and the surrounding Southwest Florida areas of Bonita Springs and Marco Island? Contact David to find a home that suits your needs, Call 239-285-1086 or David@DavidFlorida.com

After many hurdles, Cabana Resort in Bonita Springs breaks ground on first mid-rise condo

After many hurdles, Cabana Resort in Bonita Springs breaks ground on first mid-rise condo

Laura Layden | Naples Daily News

Dirt is flying on a long-awaited luxury resort development in Bonita Springs.

Heatherwood Construction has broken ground on the first phase of Cabana Resort, marking a significant milestone for what’s dubbed as an innovative condominium and entertainment mega-development.

The development has faced myriad challenges, from regulatory hurdles to supply chain shortages.

It’s rising on a 10-acre site, west of U.S. 41, between Luke Street and Meadowlark Lane on the north side of Bonita Beach Road. The vacant property sits next to Bonita Village, which has been absorbed into the new development.

Rodes Restaurant & Fish Market once operated on part of the land. The popular family-run eatery closed in 2019 after nearly 20 years in business, and its building came down a few years later, to make way for progress.

The first phase of Cabana Resort is a seven-story building, with 110 condominiums.

Read more about Cabana Resort on naplesnews.com

To find new construction homes in the Naples-Bonita Springs area contact David at David@DavidFlorida.com or 239-285-1086.