The buying frenzy the Naples housing market experienced during the past year has simmered and is being replaced with what brokers say will be our new normal: a low inventory market with fast turnover of quality homes priced right. According to the July 2021 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), inventory decreased 77.2 percent to 1,295 homes in July 2021 compared to 5,672 homes in July 2020, but demand continues to be steady as there were only 30 fewer closed sales and just a 2 percent drop in showings.
Read the rest of the report here in the new flipbook format.
Contact David at David@DavidFlorida.com or 239-285-1086 to find your home in southwest Florida.
Market frenzy is simmering down
With less than a one-month supply of inventory available, the Naples area
housing market experienced a 14.5 percent decrease in overall pending sales in
June to 1,256 pending sales from 1,469 pending sales in June 2020. Low
inventory levels in June also contributed to a 7 percent decrease in showings for
the month. This simmering of activity has broker analysts who reviewed the
June 2021 Market Report released by the Naples Area Board of REALTORS®
(NABOR®), which tracks home listings and sales within Collier County
(excluding Marco Island), certain that the wild housing market frenzy that began
about a year ago – peaking in March – is now decelerating and being replaced
with a new level of activity that reflects improved market equity for sellers and
sustained buyer interest from people seeking permanent residency.
Overall inventory decreased 78.8 percent to 1,271 homes in June from 6,003
homes in June 2020, and the median closed price in June increased 30.3 percent
to $465,000 from $357,000 in June 2020. Read the full report…
Naples Area Market Report-June 2021 – Read and learn with the New PDF format.
Contact David at David@DavidFlorida.com or 239-285-1086 to find your home in southwest Florida.
Naples, FL (June 25, 2021) – Homes in the Naples area were being sold at 99.1 percent of the list price in May. A tight inventory and buyer demand continued to push prices upward in May, which resulted in an overall median closed price increase of 29.4 percent to $433,500 from $335,000 in May 2020, according to the May 2021 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). Broker analysts reviewing the report predict continued price increases in 2021, but noted monthly showing and sales activity is beginning to show signs of deceleration from the remarkable market experienced during the first quarter of 2021.
Cash sales in May accounted for 58.4 percent of the closed sales transactions. The cash buyers continued to create challenges for competing buyers who required financing. It took an average of 90 days for a home to go from list to contract in May 2020, but in May 2021, the average days on the market was reduced to 43 days, a 52.2 percent decrease.
The May Market Report showed overall closed sales increased 164.4 percent to 1,618 from 612 in May 2020 (a month when all the world was in COVID-19 lockdown). For perspective, closed sales increased 36 percent in May 2021 compared to May 2019 (a non-pandemic lockdown month). Nevertheless, closed sales activity in May 2021 outperformed any other May in the history of NABOR®’s market statistics reports.
The NABOR® May 2021 Market Report provide 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:
Overall inventory fell 79.1 percent in May to 1,290 homes from 6,177 homes in May 2020, but monthly new listings activity continues. May welcomed 1,274 new listings, a 7.6 percent increase from 1,184 in May 2020. New listings that come on the market each month help to temper the drop in overall inventory and provide more opportunities to eager buyers.
Cash sales were not the only contributing factor to the drop in days on the market. Another factor was the 45 percent increase in showings for May (42,380 up from 29,319 in May 2020), which ultimately resulted in a 46.5 percent increase in pending sales for May to 1,710 pending sales from 1,167 pending sales in May 2020.
Historically, the Naples housing market’s activity in the first half of the year is not sustained during the second half of the year. However, since tourism to Florida is expected to increase this summer and buyers from foreign countries may also begin to arrive in the coming months, a return to more normalized buying behavior in the second half of the year was discussed although remains uncertain.
Contact David at David@DavidFlorida.com or 239-285-1086 to find your home in southwest Florida.
Gravina Smith Matte & Arnold – Special to Naples Daily News | June 26, 2021
Sales are now underway for London Bay’s bold, bay-front vision at Grandview at Bay Beach – Estero Island’s newest 11-story tower within walking distance to the beach and close proximity to boating and marinas.
Boasting panoramic views of the Gulf of Mexico, Estero Bay and Southwest Florida’s picture-perfect sunsets, Grandview at Bay Beach offers a sought-after location that will inspire residents to immerse themselves in the natural Southwest Florida lifestyle.
Located within the gated Waterside neighborhood at Bay Beach, a short distance from Naples, Grandview’s 58 stunning residences will illustrate new heights in uncommon coastal luxury within 2,400 to 2,900 square feet. Grandview’s open-concept floor plans will feature 9’1” ceilings, three or four bedrooms, a den, up to three-and-a-half bathrooms, private elevator access and a dedicated covered space in the main garage. Six exclusive top-floor penthouses will feature 11-foot ceilings and a private two-car garage.
“Grandview presents a winning combination of world-class views, a waterfront lifestyle and resort-style amenities,” said Sales Director Michael Veliz of London Bay. “Residents will feel like they are living in paradise.”
In each thoughtfully designed residence, a wide foyer leads to a living area that includes a great room with a breezy, screened covered terrace, an elegant dining area and a gourmet island kitchen. Spacious dens afford additional comfortable space for working or relaxing.
A luxurious master suite features wide vestibules, spacious walk-in closets and a sitting area that creates the ideal spot to enjoy water views and a spa-worthy bathroom boasting dual vanities and an oversized walk-in shower.
All floorplans feature luxury features and finishes, including porcelain tile throughout living areas and bathrooms with fully tiled floors on all outdoor terraces as well as Kohler fixtures. Kitchens will include Bosch stainless-steel appliances, natural stone countertops and an open island featuring cabinetry with self-closing drawers in a variety of finishes.
Grandview’s on-site, resort-inspired amenities include a wellness lifestyle focus built into the tower’s design. Residents can make Grandview’s fitness center part of their commitment to self-care and a healthy lifestyle. With state-of-the-art strength and cardio equipment, fitness goals are within reach. The adjacent yoga studio, complete with a mirror wall, barre, and cushioned flooring for impact absorption, will provide additional relaxation space for residents. Men’s and women’s changing rooms have been elegantly envisioned with sleek stainless-steel fixtures and finishes, along with shimmering wallcovering in soothing, soft blue.
Grandview residents will also have access to the activities and amenities offered within Waterside, including a resort-style swimming pool and spa, and walking and jogging paths adjacent to a private, open space.
Grandview’s elevated waterfront living comes alive in “The EL,” its upscale, on-property amenities hub accessed by a floating staircase curving from the first-floor lobby.
A fishing pier, beach access and nearby marinas offer additional opportunities for outdoor excursions, including boating, biking, fishing charters and sunset cruises. Residents can rent a power boat, sailboat, jet ski or kayak along the Great Calusa Blueway Paddling Trail, a 190-mile canoe and kayak trail that weaves through the waters of Lee County.
Situated two miles north of Lovers Key State Park, Grandview is minutes from the beaches and fun of Fort Myers Beach and world-class shopping, dining, golf and cultural experiences of Naples.
Grandview residences are available starting from the low $1 millions, and also offers a pet-friendly living environment with no weight restrictions.
Contact David at David@DavidFlorida.com or 239-285-1086 for more information or to visit Grandview Bay Beach.
NABOR Market Report
Naples, FL (April 23, 2021) – Records were broken in March, but “don’t call Guinness just yet!” say broker analysts reviewing the March 2021 Market Report, released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). The analysts are a small contingency of leaders who represent the area’s top real estate brokerage firms and meet monthly at NABOR® to interpret area housing market statistics. The group’s analysis of activity last month confirmed that March broke records; but celebrations to commemorate the month’s record high statistics should be postponed because these broker analysts also agree that our market is probably not done breaking records for the year.
According to the report, March’s historic activity included 1,851 closed sales, $1,582,474,997 in total sales volume, and 60,147 showing appointments. This makes March 2021 the highest performing month on record over the last 13 years (the span of time NABOR® has tracked key metrics reflecting the area’s housing market activity).
March was also the first month in several years where there were more reported price increases than decreases. Median closed prices in March increased 12.2 percent to $415,000 (the highest median price increase month/month on record since 2008) from $370,000 in March 2020. In March 2021, there were just 1,819 homes in inventory (the lowest it has been since 2014), which was a 73.2 percent decrease from 6,795 homes in inventory in March 2020.
Pending sales (homes under contract) activity in March also broke records, as seen in the 152.7 percent spike to 2,469 pending listings from 977 pending listings in March 2020. However, broker analysts were quick to remind each other that a high number of sales during the second half of the month last year were lost as we were in a pandemic lockdown. Despite last March’s COVID-19-related market anomaly, this March’s pending sales still eclipsed pending sales activity reported in any March over the last eight years.
The NABOR® March 2021 Market Reports provide 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:
The March Market Report showed remarkable closed sales performance in the condominium market during March too, which had a 71.6 percent increase in sales to 1,021 closed sales from 595 closed sales in March 2020. Closed sales of single-family homes over $2 million also increased 68.4 percent in March. Geographically, closed sales of condominiums in Central Naples rose 118.3 percent in March, while the average sale price for single family homes in Central Naples increased 38.4 percent to $901,807 from $651,370 in March 2020.
Increased Demand in February Shows Homebuyers Recognize a Great Value
Naples, FL (March 24, 2021) – The February 2021 Market Report, released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), marks the last month of comparative activity before the pandemic shuttered the global economy in March 2020. That said, overall closed sales of existing homes in Naples for February increased 62 percent to 1,307 closed sales from 807 closed sales in February 2020.
Broker analysts reviewing the February 2021 Market Report were not surprised at the increased momentum as many report buyers are scooping up the available inventory of homes in all geographic locations within Naples almost as fast as they come onto the market. Inventory fell 68.8 percent in February to 2,224 homes from 7,127 homes in February 2020.
Single-family homes continue to be in high demand so, according to the report, many buyers pivoted to condominiums in February. As a result, the condominium market experienced a 75.7 percent increase in closed sales and a 66.6 percent decrease in inventory. In fact, condominium sales in February 2021 eclipsed its comparable sales in any month over the past 15 years.
In addition to the struggle to find existing properties for sale in all price categories, buyers are also finding new home purchasing options are diminishing.
It’s not surprising then that February saw pending sales of existing homes in Naples skyrocket 50.7 percent to 2,299 pending sales from 1,526 pending sales in February 2020. In comparison, there were more pending sales (2,299) at the end of February than inventory (2,224). This resulted in a drastic drop in supply as the February report revealed our area now has only a 2-months supply of homes available to buyers.
The NABOR® February 2021 Market Reports provide 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:
In February, the median closed price increased 17.4 percent to $405,000 from $345,000 in February 2020. As such, the average closed price also increased in February by 25.7 percent to $796,936 from $633,898 in February 2020. The luxury single-family home market continues to drive sales in Naples as reflected in the average closed price for single-family homes in the Naples Beach area, which increased 35.4 percent to $3,270,814 from $2,414,826 in February 2020.
Whether new listings – which fell 8.6 percent in February to 1,435 new listings from 1,570 new listings in February 2021 – can meet the demand in the coming months will depend on seller motivation. In a tight inventory climate, brokers said it’s not uncommon for REALTORS® to approach a homeowner in a desirable community and ask: “I know your home is not for sale but how much do you want to sell it because I have a buyer?”
The demand for single-family homes in Naples is so high right now that its convincing many homeowners to downsize in order to take advantage of the market’s demand and enjoy a nice profit. That’s one reason condominium sales increased in February and why properties in 55 and older communities also saw increased activity.
