Phil Fernandez | Naples Daily News
Collier’s largest private company that helps in recovery of pro athletes gets recognition
Collier County’s largest private employer is among innovative finalists for the 37th annual international Edison Awards, which honors some of the planet’s greatest minds.
The future and the execution of concepts to come are what’s at the heart of the awards, named after Southwest Florida winter resident and global whiz Thomas Alva Edison. Established in 1987 in New York, the confab of some of Earth’s top business and government executives, academics and inventors comes to the region for the fourth time on April 17-19, when top winners will be selected from the finalists and given the Gold Award.
Here’s what to know.
What is Collier’s top private employer?
A finalist this year, Arthrex, which employs 3,983 in Collier, received three golds in 2021.
Besides being No. 1 among private firms and headquartered in Naples, the worldwide medical device manufacturer has the second largest staff behind Publix in the five-county area…
Read more to find out What NFL Super Bowl QBs benefitted from Arthrex advances.
If you are looking for a home in thriving Southwest Florida, contact David at David@DavidFlorida.com or 239-285-1086.
Phil Fernandez | Naples Daily News
In the Know: Naples-based Premier Sotheby’s International Realty’s $10 million home sold in Royal Harbor, the neighborhood’s biggest this summer.
View all the photos!
If you are looking for a luxury home property in the Naples area, contact David at David@DavidFlorida.com or 239-285-1086.
Rising Inventory and Competitive Pricing are Favorable for Home Sales
Naples, Fla. (March 29, 2024) – The overall median closed price in Naples increased 5 percent to $625,000 in February from $595,188 in February 2023, but there were also 2,264 price decreases reported. Brokers contend that price decreases may be one indication that sellers are shifting from aspirational pricing to realistic market pricing. According to the February 2024 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), closed sales decreased 9.3 percent in February despite a 66.6 percent increase in inventory to 5,139 properties from 3,085 properties in February 2023.
Rising Inventory Brings Patience
February’s price decreases demonstrate that REALTORS® are counseling sellers about realistic market pricing. Although some sellers are still struggling to accept the fact that the pandemic buying frenzy years with climbing price increases are over. As more new sellers enter the market (up 24.6 percent to 1,668 new listings from 1,336 new listings in February 2023), those sellers with overpriced properties risk missing an opportunity to attract and sell to eager buyers.
According to the report, in February 2019 the median closed price was $335,000. Cindy Carroll of Carroll & Carroll Appraisers & Consultants, LLC., and broker analysts like Budge Huskey, CEO, Premier Sotheby’s International Realty, agree that “in the face of far more inventory and opportunity, home values are holding steady in Naples today. People are being highly selective and will wait until they find the right property.”
Insurance vs. Interest Rates
The February Market Report showed a 103.4 percent increase in inventory for properties under $300,000. Mike Hughes, Vice President and General Manager for Downing-Frye Realty, Inc., said that this might be because “investors are offloading rental property units to capitalize on the winter selling season. Also, the carrying costs on some of these properties has climbed in recent years. This increase in inventory, for buyers looking in this price range, is encouraging as their selection was quite limited a year ago.”
As many Naples residents are discovering, when home values increase, the replacement cost to insure them also increases. Insurance rates and association fees could increase for condominium owners by the end of 2024 as mandatory milestone inspections must be completed by year end. Inventory for condominiums increased 104.2 percent in February to 2,614 condominiums from 1,280 condominiums in February 2023.
The NABOR® February 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:
Market Report Standouts
Upon observation, the February Market Report shows median closed price decreased for condominiums located in the Naples Beach (34102, 34103, 34108); Central Naples (34104, 34105, 34116); and Immokalee/Ave Maria areas. And the area with most closed sales of single family homes in February was East Naples (34114, 34117, 34120 and 34137), which also reported the highest inventory of available properties (1,125).
While February’s report showed an average of 69 days on market, it is nowhere near the 101 DOM reported in February 2019. Interestingly, average days on market during February was highest in the $5 million and over condominium market (99 DOM). According to Carroll, months of inventory for neighborhoods west of US 41 tend to be higher as these communities are oversaturated with spec homes and aspirational sellers. “Inventory of homes in Aqualane Shores is 3.5 years; and in Port Royal is 2.9 years.”
If you are considering buying or selling your home, contact David at David@DavidFlorida.com or 239-285-1086. As a Naples REALTOR® he will give you expert advice on how to make the best of today’s market conditions.
J. Kyle Foster | Naples Daily News
On a Saturday afternoon in January, Mercato in North Naples is busy and will get busier as the hours pass.
People come for the experience – from food and shopping to unique events and outdoor entertainment; from family fun to adult time that includes romantic dinners, cigars, drinks and dancing. The later the night, the heels get higher and the clothes get tighter.
At 4 p.m., it is 75 degrees and a group of 6- to 8-year-old girls practices cartwheels on artificial turf in the middle of the shopping center and later play hide-and-seek – all near busy restaurants, retail stores and an art show that has the street in between closed.
At 8 p.m., the green space is filled with people listening to Wendell Ray singing DNCE’s “Cake by the Ocean,” some sitting in chairs they brought with them. Others dancing. Children hop and run around. Stiletto-clad women in short skirts walk by to go to the three late-night spots – Blue Martini, Cavo and Burn.
Most of the restaurants have outdoor seating to take advantage of the Southwest Florida weather and the desire for visitors to enjoy it. Among the restaurants are The 239 Naples, Bar Tulia, The Capital Grille, The Pub, The Hampton Social, Rocco’s Tacos & Tequila Bar, Chipotle, Grace & Shelly’s Cupcakes, Kilwin’s ice cream.
Some of these also have locations eight miles south on Fifth Avenue South, also a very popular shopping and eating area in Naples.
“We share a lot of guests (with) downtown,” said Daniel McLean, general manager of Mercato’s Bar Tulia, whose first location was on Fifth. The cocktail menus at each location are created by the bartenders and are different, as are most of the menu items, he said.”It’s even more reason to go to both places” McLean said.
Shopping mall vs. downtown feel
“It’s like a walking shopping mall,” said Heidi Zizza as she was having drinks with friends at a table in the corner near the sidewalk at Blue Martini. “It’s very different from Fifth. Fifth Avenue is more of a downtown.”
Read the full article with photos onnaplesnews.com.
Find a home convenient to great restaurants and entertainment in southwest Florida. Contact David at David@DavidFlorida.com or 239-285-1086.
Kendall Little | Naples Daily News
Popular magazine Reader’s Digest highlighted several South Florida beaches in a February article titled “15 Best Beaches in Florida Locals Want to Keep Secret.”
One Collier County beach made the cut: Tigertail Beach on Marco Island.
What did Reader’s Digest say about Tigertail Beach?
Best for: Swimming and bird-watching
After you park your car and start walking toward the water ahead of you, you might ask yourself: Is this the beach? It certainly is “a beach,” but what you see from the parking lot is actually just a huge lagoon, full of birds and tidal pools. And yes, plenty of people set up camp right there! But if you walk just a few minutes past the lagoon (sometimes, depending on the tide, you’ll have to wade through), you’ll get to the real star: three miles of soft, wide sand, fiddler crabs and beautiful migratory shorebirds.
The author, Liz Zack, also recommends watching the sunset and then
grabbing a bite to eat at Sami’s, a local favorite that serves Italian dishes.
What other Southwest Florida beaches were included?
- Bowman’s Beach, Sanibel
- Boca Grande, Gasparilla Island
- Turner Beach, Captiva
- Lover’s Key State Park, near Fort Myers Beach
How Reader’s Digest chose its ‘Best Florida Beaches’
Read the full article with photos on naplesnews.com.
Contact David to find your new home in southwest Florida. at David@DavidFlorida.com or 239-285-1086.
January Market Report Shows Very Suitable Climate for Seasonal Sales
Naples, Fla. (March 1, 2024) – Data in the January 2024 Market Report showed invigorated confidence in the Naples area housing market for both sellers and buyers. Overall inventory continued to climb for the sixth straight month resulting in a 58.8 percent increase in homes for sale in January or 4,639 properties from 2,921 in January 2023. Fueled by a 29.1 percent increase in new listings year over year, January showings doubled compared to showings reported in December 2023. The first month of the year also saw serious sellers taking action to capture increased buyer attention with 1,804 price decreases, a 122.7 percent increase compared to December’s 810 price decreases.
“I’m getting more requests for pre-listing appraisals,” said Cindy Carroll of Carroll & Carroll Appraisers & Consultants, LLC. “This indicates to me that new sellers are taking their REALTOR®’s advice to heart and doing the work necessary to determine the value of their home in today’s market.”
The report showed 6.4 months of inventory for January compared to .9 months of inventory in January 2022, when frenzied pandemic buying began to simmer. Brokers reviewing the report said buyer intent has shifted from pandemic years of “I want a home in Naples,” to a more sensible climate today of “I want the right home in Naples.”
With more competition, brokers agree that REALTORS® who represent a buyer or seller must look at hyper-local factors such as location within a neighborhood, competition within each price range, and extenuating factors that may influence insurance coverage and affordability such as the age of the home or claim history. Additional factors that may influence list price include mortgage rates, association fees, potential or planned future assessments, ongoing maintenance and building repairs (common for condominiums) or repairs necessary to meet new building codes and flood/storm management requirements.
While pending sales in January decreased 7.5 percent to 1,010 pending sales from 1,092 pending sales in January 2023, pending sales activity for January increased 73.2 percent compared to pending sales activity reported in December 2023 (583).
“Days on market will continue to climb,” said a Broker. “There are buyers who purchased a home impulsively during the pandemic and now they are rethinking their decision. And because a lot of them are second-home buyers, they aren’t motivated in a way typical of other sellers, so they’ve been less likely to adjust their list prices or negotiate.”
The NABOR® January 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:
First-time homebuyers and those seeking homes under $500,000 will be pleased to hear that inventory in this price range increased 58.6 percent in January. In fact, inventory for condominiums priced under $300,000 increased 112 percent during the month. Notwithstanding, and because Naples is paradise, inventory for condominiums over $5 million increased 182.6 percent in January.
Find your home in southwest Florida! Contact David at David@DavidFlorida.com or 239-285-1086.
