A Naples home is No. 1 on the list for most expensive single-family property transfers in Collier County from Sept. 1-30, 2023.
This house has four bedrooms and three bathrooms.
Following are the Top 10 real estate sales in Collier County recorded for September 2023:
(Data provided by Royal Shell Real Estate)
#1
3440 Rum Row, Naples
List price: $9,950,000
Sold price: $9,100,000
Neighborhood/Subdivision: Port Royal
Size: 2,905 square feet
Year built: 1964
Days on market: 149
Amenities: Gulf Access, Boat Dock
View: Canal
#2
5063 Groveland Terrace, Naples
List price: $8,695,000
Sold price: $8,550,000
Neighborhood/Subdivision: Quail West
Size: 5,665 square feet
Year built: 2023
Days on market: 110
Amenities: Clubhouse, Community Pool/Spa, Golf Course, Private Membership, Putting Green, Tennis Court, Private Pool/Spa, Built-In Wood Fire Pit, Fence, Outdoor Fireplace/Kitchen
View: Golf course
#3
2712 Buckthorn Way, Naples
List price: $8,475,000
Sold price: $8,250,000
Neighborhood/Subdivision: Estates at Grey Oaks
Size: 8,144 square feet
Year built: 1996
Days on market: 203
Amenities: Clubhouse, Community Pool, Golf Course, Lap Pool, Private Membership, Putting Green, Tennis Court, Private Pool/Spa, Built-In Grill, Deck, Fence, Outdoor Kitchen
View: Golf course
View the rest of the list on naplesnews.com.
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
A Naples house is No. 1 on the list for most expensive single-family property transfers in Collier County from July 1-31, 2023.
This house has five bedrooms and nine bathrooms. The house was last sold in 2021 for $3,495,000 million.
Following are the Top 10 real estate sales in Collier County recorded for July 2023:
(Data provided by Royal Shell Real Estate)
1682 17th Ave. S, Naples
List price: $16,500,000
Sold price: $15,000,000
Neighborhood/Subdivision: Aqualane Shores
Size: 5,878 square feet
Year built: 2023
Days on market: 112
Amenities: Gulf Access, Boat Dock, Private Pool/Spa, Built-In Gas Fire Pit/Grill, Deck, Outdoor Fireplace/Kitchen
View: Canal
149 Cajeput Drive, Naples
List price: $14,500,000
Sold price: $14,250,000
Neighborhood/Subdivision: Pine Ridge
Size: 9,833 square feet
Year built: 2022
Days on market: 131
Amenities: Private Pool/Spa, Built-In Gas Fire Pit/Grill, Outdoor Fireplace/Kitchen
View: Landscaped area
3133 Rum Row, Naples
List price: $16,950,000
Sold price: $12,000,000
Neighborhood/Subdivision: Port Royal
Size: 6,669 square feet
Year built: 1974
Days on market: 223
Amenities: Gulf Access, Boat Dock/Lift, Private Membership, Private Pool/Spa
View: Canal
See the full Top 10 on naplesnews.com.
To view luxury homes currently for sale in Port Royal contact David at 239-285-1086 or David@DavidFlorida.com
Home Prices Hold Steady in July
Naples, Fla. (August 25, 2023) – While much of America grapples with unfamiliarly high interest rates that have stalemated the resale home market, broker analysts reviewing the July 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), point to data that shows home sales activity in Naples has remained steady for the past year despite several interest rate increases. Yet, even as cash sales for homes in Naples decreased from 66.7 percent in January to 53.5 percent in July, the overall median closed price of homes in the first seven months of 2023 has continued to increase compared to most months in the first seven months of 2022.
The July Market Report’s total sales data showed 81 fewer homes sold in July compared to July 2022, an 11.9 percent decrease to 600 closed sales from 681 closed sales. On the other side of the spectrum, pending listings (homes under contract) in July increased 6.3 percent to 798 pending listings from 751 pending listings in July 2022, which illustrates our market’s steadiness. Also, the percent of list price received this July is steady at 96.1 percent compared to 97.9 percent in July 2022. In July, days on market increased 115.4 percent to 56 days from 26 days in July 2022, the lowest reported in the history of NABOR®’s Market Reports. Incidentally, before the pandemic, days on market averaged over 100 days (104 days in July 2019).
“Fortunately, new listings continue to be steady each month,” said Mike Hughes, Vice President and General Manager for Downing-Frye Realty, Inc. “But they aren’t replenishing inventory at the rate we need, and so inventory has been dropping for each of the last four months.”
New listings in July decreased 15.4 percent to 810 new listings from 957 new listings in July 2022. Before the pandemic, new listings supplemented an already very healthy inventory level. Data showed there were 5,200 properties for sale in Naples in July 2019 compared to 2,583 properties listed for sale in July 2023. But while new listings, closed sales, and pending sales activity have almost returned to 2019 levels, overall inventory has not.
As inventory faded away during the homebuying frenzy of the pandemic years, median closed prices rose by over 50 percent. In July 2019, the median closed price in Naples was $325,000. But in July 2023, the median closed price increased 9.2 percent to $595,000 from $545,000 in July 2022.
“I don’t think sales in our area have stalemated,” said Hughes. “Looking at the data, we’re no better and no worse than we were a year ago. In fact, historically speaking, we’re only 500 sales off from the number of closed sales reported in the first seven months of 2019. And that’s with half the inventory. This says so much about resiliency and the desirability of homeownership in our area.”
Find a home in Southwest Florida. Contact David at David@DavidFlorida.com or 239-285-1086.
Naples Housing Market Prime for Summer Buyers
Naples, Fla. (July 21, 2023) – Broker analysts reviewing the June 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), believe a surge in summer travel contributed to the reduction in home sales in Naples during June. The report showed a 13.6 percent decrease in overall closed sales for the month to 837 closed sales from 969 closed sales in June 2022. Though the dip in closed sales appears temporary and may not linger into July’s closed sales data as overall pending sales (homes under contract) in June increased 0.8 percent to 800 pending sales from 794 pending sales, and June’s showings increased slightly from showings reported in June 2022. Fortunately, slow sales in June did not impact home prices as the median closed price reported in June increased 0.4 percent to $602,494 from $600,000 in June 2022.
Overall inventory continues to rise compared to 2022 levels. June had an 8.2 percent increase in overall inventory to 2,659 homes from 2,457 homes. But according to the area’s top brokers, this increase was due to low sales for the month and not because of new listings, which decreased 28.2 percent to 860 new listings from 1,198 new listings in June 2022.
The NABOR® June 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:
“Travel is the elixir that will make people feel inspired to buy again once they return home from summer vacations,” said Cindy Carroll of Carroll & Carroll Appraisers & Consultants, LLC. “It’s been 15 months since the market peaked [December 2021]. We’ve been through a pandemic and hurricane and still the monthly reports fail to indicate a market correction will happen anytime soon as median and average closed prices continue to hold steady.”
Mark H. Bickel | Naples Daily News
A Naples home is No. 1 on the list for most expensive single-family property transfers in Collier County from June 1-30, 2023.
This home is located in the Pine Ridge neighborhood. It has six bedrooms and 10 bathrooms. The house was last sold in 2012 for $570,000.
Following are the Top 10 real estate sales in Collier County recorded for June 2023:
1-705 Myrtle Road, Naples
List price: $14,499,000
Sold price: $14,000,000
Neighborhood/Subdivision: Pine Ridge
Size: 12,916 square feet
Year built: 2016
Days on market: 6
Amenities: Private Pool/Spa, Built-In Gas Fire Pit/Grill, Outdoor Kitchen
View: Landscaped Area
Read on for the next nine on the list.
To view homes currently for sale in Port Royal contact David at 239-285-1086 or David@DavidFlorida.com
