November Market Report: Southwest Florida

Of the 30 neighborhoods that we monitor for single family homes in the Naples, Bonita Springs, Estero and Marco Island markets, 17 now have supplies that are at one year levels or above, with several above the two-year level.  For condos, only 6 of 25 monitored neighborhoods are at one year levels or above, and none are above the two-year level.  Our neighborhood snapshot reports (shown at bottom) tell a very clear story about the increasing inventory and months-of-supply in key Southwest Florida real estate markets.  See below for the November Southwest Florida real estate market report.

NAPLES, BONITA SPRINGS/ESTERO

Southwest Florida real estate market reportClosed Sales

During the 12 months ending October 31, 2016, the Naples, Bonita Springs and Estero markets had a total of 11,528 closings, which is 13% lower than the prior 12-month period when there were 13,258 closings. The price segment between $500,000 and $1 million remained relatively stable, showing less than a 3% decrease. The overall year-to-date closed sales were also down slightly at 9,749 vs. 11,314 YTD 2015. This represents a 14% sales pace reduction from last year. Closed sales priced above $2 million fell 23% year-to-date when compared to the same period in 2015 and during the past 12 months, sales in this price category are down 18% (385 vs 472).

New Listings/Inventory

Available inventory on November 1, 2016 for the Naples, Bonita Springs and Estero markets consisted of 6,537 units, up from 6,081 units last month reflecting a 31% increase over November 1, 2015. During the 12 months ending October 31, 2016, there were 20,124 new listings added to this market, which is an 8.8% increase over the same 12-month period in 2015.

Average and Median Sales Price

Average price of closed sales in the Naples, Bonita Springs and Estero market during the month of October was slightly lower year-over-year, while the median closed price is up 4% for the month. The average sales price over the past 12 months remained approximately the same as the prior 12 months at $519,491, while the average price of sales above $2 million fell 4.7%, from $3,872,674 to $3,691,985.

Southwest Florida real estate market reportMARCO ISLAND

Closed Sales

During the 12 months ending October 31, 2016, the Marco Island area had 827 closings, down from 992 closings for the same period last year. For year-to-date closed sales, there were 713, down from 868 during the same period in 2015.

New Listings/Inventory

Available inventory on November 1, 2016 for the Marco Island market consisted of 662 units compared to 629 units last month. During the full 12 months ending October 31, 2016, there were 1,514 new listings added to the Marco Island market, which represents a 10.8% increase over the same period last year when there were 1,366 new listings added.

Average and Median Sales Price

The average price of closed sales in the Marco Island market during the month of October remained consistent with October 2015, decreasing less than 2%, while the median price for the month increased 5%.  The average sales price over the past 12 months also remained stable at $726,000 vs. $738,000 a year ago.

*Marco Island statistics are obtained from the Marco Island MLS system and include only those sales and current listings on Marco Island and Key Marco

NAPLES, BONITA SPRINGS/ESTERO MARKET SNAPSHOT

Southwest Florida real estate market report

Southwest Florida real estate market report

Southwest Florida real estate market report

Source:  John R. Wood Properties

Visit Naples.house for luxury homes for sale in Naples, Bonita Springs, Estero, Sanibel and Captiva Islands, and Marco Island.

 

 

Downtown Bonita Springs & Longitude

Downtown Bonita Springs

This Week in Southwest Florida Real Estate we visit downtown Bonita Springs where $18.6 million in improvements and redevelopment are taking shape to become an industrial arts district with new commercial and residential spaces that include a new 48 unit condominium, Longitude.  Visit the link to learn more.

Source: Episode 9: Downtown Bonita Springs & Longitude

Longitude

 

Visit Naples.House for luxury homes for sale in Naples, Bonita Springs, Estero, Sanibel and Captiva Islands, and Marco Island.

 

Video Courtesy of John R. Wood Properties

Monthly Market Report for July 2016

Monthly Market Report for July 2016
Naples / Bonita Springs / Estero Market Area

 

CLOSED SALES                               

Click for Full Report
Click for Full Market Report, July 2016
  •   The number of closed sales through July 2016 is down 16% from the same period in 2015. Sales pace is driven by inventory, demand and pricing.
  • During the past 12 months, closings for properties priced above $2 million declined by 9.7% (410 vs. 454).

NEW LISTINGS/INVENTORY

  •  Available inventory on August 1, 2016 in the Naples, Bonita Springs, Estero combined market consisted of 5,991 units (3,222 single family homes and 2,769 condominiums). This is up from 4,286 units on August 1, 2015.
  • The number of available properties for sale on August 1, 2016 represents 6.1 months of supply based on current absorption rates.

AVERAGE AND MEDIAN SALES PRICE

  • Median price is up 5% for the first seven months of the year ($320,000 vs. $305,000).
  • Average price of closed sales priced above $2 million fell 3% over the past 12 months from $3,900,914 to $3,796,322.

 

 

Visit Naples.House for luxury homes for sale in Naples, Bonita Springs, Estero, Sanibel and Captiva Islands, and Marco Island or to view the Full Market Reports including Neighborhood Snapshots.

 

“The source of this real property information is the copyrighted and proprietary database of Southwest Florida MLS, Copyright 2015, and the proprietary compilation of that data by John R. Wood Properties, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data.”

Things to do This Weekend in Southwest Florida

This weekend in Southwest Florida you can hit the theater, pay tribute to Frank Sinatra or Henry Ford, and even get more Pokemon Go action. Harley-Davidson is also promising to double your trouble, and as usual, there’s a long list of open houses from Marco Island to Sanibel Island this weekend.  Check it all out below and make it a great one!

The Naples Pier at Sunset
The Naples Pier at Sunset

FRIDAY

SATURDAY

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A Local Resident

SUNDAY

 

Visit Naples.House for luxury homes for sale in Naples, Bonita Springs, Estero, Sanibel and Captiva Islands, and Marco Island.

Lee Health Village

Lee Memorial Health System has revealed exterior design plans of its highly anticipated Lee Health Village at Coconut Point.  The 150,000-square-foot, free standing emergency facility and outpatient services center is being built on a 30 acre plot of land off of Coconut Road in Estero and is expected to open in 2018.

Lee Health Village
Lee Health Village

“We want to give the community an early look at our conceptual renderings as we  move into design development. We will continue to refine the exterior architectural developments and landscaping plans,” says Suzanne Bradach, System Director of Special Projects. The final design will be submitted to the Village of Estero Planning & Zoning Board and its Design Review Committee for approval.

Emergency care has become a growing concern for residents and visitors of South Lee County.  Lee Health Village at Coconut Point is a welcome solution to providing medical care close to home. For more information please visit www.leememorial.org or contact 239-343-4805.

Lee Health Village Screen Shot 2016-07-26 at 9.54.34 AM

 

Visit Naples.House for luxury homes for sale in Naples, Bonita Springs, Estero, Sanibel and Captiva Islands, and Marco Island.

Monthly Market Report for June 2016

Monthly Market Report for June 2016                                                    Naples / Bonita Springs / Estero Area

Click for Full Report
Click for Full Market Report, June 2016

 

CLOSED SALES

  •   There were a total of 6,178 closed sales during the first six months of 2016, down from 7,458 closings during the same period 2015.
  •   During the past 12 months, the price segment showing the largest decline in number of sales is properties priced below $250,000, down 24% (4,087 vs. 5,395).
  •   Over the past 12 months, the number of sales priced above $2 million declined 5% over the prior 12 month period with 72 sales vs. 88 in the prior year.

 

NEW LISTINGS/INVENTORY

  •   Available inventory on July 1, 2016 consisted of 6,274 units, up 39% from July 1, 2015.
  •   The current supply of product is comprised of 2,894 condominiums and 3,380 single family homes. All price ranges posted inventory increases with the exception of single family homes priced below $250,000. The largest gains over prior year were condominiums priced between $1 million and $2 million, up 100% and those priced above $5 million, up from 7 units a year ago to 16 units on July 1, 2016.
  •   The number of properties currently available for purchase represents 6.4 months of supply based on the number of closings in the past 12 months.

 

AVERAGE AND MEDIAN SALES PRICE

    •   The average price of closed sales year-to-date remains approximately the same as the first six months of 2015, up less than 2%. Median price increased 6.5% year-over-year.
    •   Properties priced above $2 million followed the overall market trend, with average price remaining static year-over-year

 

Visit Naples.House for luxury homes for sale in Naples, Bonita Springs, Estero, Sanibel and Captiva Islands, and Marco Island or to view the Full Market Reports including Neighborhood Snapshots.

“The source of this real property information is the copyrighted and proprietary database of Southwest Florida MLS, Copyright 2015, and the proprietary compilation of that data by John R. Wood Properties, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data.”

Redevelopment Heating Up Bonita Springs This Summer

Redevelopment Bonita Springs – Southwest Florida real estate is all about growth and development.  Everywhere you look there is another improvement project underway or new community going up.

Redevelopment Bonita Springs

If you’ve driven through downtown Bonita Springs recently you know that construction efforts along the Old U.S. 41 corridor are no exception. The $18.6 million redevelopment project, which is two years in the making, is actually nearing the midway mark and we aren’t the only ones getting excited about the changes.

Local artists and developers are already lining up with proposals for how they can contribute to what is expected to become a mix of an industrial arts district, commercial space, and new residential real estate opportunities including a 272-unit gated community.  A public kayak launch into the Imperial River will also be included giving residents and visitors full access to the beauty and culture we’ve always known exists in Bonita Springs.

For those of us who are considered locals, or perhaps even the rare native, the renovations bring an exciting outlook for real estate in downtown Bonita Springs which has long taken the back seat to evolving developments on the newer U.S. 41 or Tamiami Trail.

The best part? Developers and city planners are doing everything they can to ensure the small town charm of Bonita stays intact…albeit with a refined style that we’ve all come to expect along the paradise coast.

If you’d like more information on Bonita Springs real estate visit Naples.House for luxury homes for sale in Naples, Bonita Springs, Estero, Sanibel and Captiva Islands, and Marco Island!

Lee County Beaches

The Lee County Beaches of Fort Myers, Bonita Springs and Estero span 50 miles from Gasparilla Island State Recreation Area to Bonita Beach Road, and with 18 miles of public parks on the beachfront, there are over 100 beach accesses!

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Barefoot Beach State Preserve

On the south end of Little Hickory Island, one will find the natural surrounding of a state preserve. Tours are available as well as guided canoe trips to learn about the various wildlife species in the area.  Barefoot Beach is located between Bonita Beach and Delnor-Wiggins Pass State Park, and the entrance is at Lely Beach Boulevard.

Bonita Beach Park

Located in the luxurious Bonita area, this five-acre white sand beach park is easily accessible and only 20 feet off Bonita Beach Road and Lely Barefoot Boulevard.  Public bathrooms, showers, and concessions are available.

Lover’s Key State Park

Lover’s Key State Park is more than 700 acres and can be accessed between Estero and Bonita Beach.  Along with its gorgeous beach, this beautiful state park showcases land, marine ecosystems, and wetlands.

Fort Myers Beach

Fort Myers Beach on Estero Island is very popular with the young and old.  Right on the beach you will find parasailing, jet-ski, and even paddle boat rentals.  The beach is perfect for sun bathing, and many island shops and restaurants are located along the boardwalk.  Fishermen and sunset watchers will truly enjoy the Fort Myers Beach Pier, and its famous Times Square with quaint little shops.

Dog Beach

Dog Beach in Bonita Springs is one of the only “pets permitted” public beaches.  Bonita Beach does not permit pets.  Dog Beach is also known as the “Lee County Off-Leash Dog Area.”  It is located north of Bonita Beach Road where it curves north and becomes Hickory Boulevard.  It is physically located just north of the New Pass bridge and just before Carl Johnson boat ramp and Lover’s Key state park.  It’s only a few miles south of Fort Myers Beach and provides parking, plastic bags and dog waste disposal stations.

 

The Island Beaches of Sanibel Island & Captiva Island Beaches offer more than just a place to soak up the sun.  Because of their ease-west orientation, the islands are a haven for undisturbed shells and the water’s current is perfect for adventuresome windsurfers. Of course there’s always time for a picnic.  Screen Shot 2015-10-25 at 10.31.18 AM

Sanibel Beach

Sanibel Beach is located on one of the most unique barrier islands in the world.  For those who like to go shelling, Sanibel and Captiva beaches are the place to be.  Bathrooms are located at most public beach accesses and some have picnic tables.

Sanibel Lighthouse

The historical Sanibel Lighthouse is located on the eastern tip of the island at Causeway Road and Periwinkle Way.  Here, one can fish from the Sanibel Pier or take a nature walk on a winding boardwalk through the native wetlands.

Bowman’s Beach

Bowman’s Beach located off Sanibel-Captiva Road is a more secluded beach, and amenities include an outdoor shower, public bathrooms, picnic tables, and even barbecue grills.

Captiva Beach

Captiva Beach is five miles long and located on the north end of Captiva Island.  Besides being popular for shelling, many couples enjoy a romantic evening on the beach watching the fabulous sunsets.

Causeway Beaches

Here beach-goers can pull vehicles right up to the water’s edge and there is no parking fee.  The Causeway Beaches are a chain of islands that go from Summerlin Road to Sanibel Island.  These beaches are located on both sides of the road and bathrooms are available.  They’re great for picnicking, fishing, and windsurfing.  Warning for swimmers; there can be strong currents, so be sure to watch the little ones.

Tarpon Bay Beach

Located at the south end of Tarpon Bay Road and West Gulf Drive, parking for this beach is easily accessible for recreational vehicles, and it is only a short walk to the white sandy beach.

Turner Beach

Turner Beach is great for shelling and fishing, but its swift currents are not for swimmers.  This beach is located on the Sanibel/Captiva side of Blind Pass Bridge.

Visit Naples.House for luxury homes for sale in Naples, Bonita Springs, Estero, Sanibel and Captiva Islands, and Marco Island!

Market Report for September 2015

 NAPLES / BONITA SPRINGS / ESTERO MARKET 

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CLOSED SALES

  Closed sales year-to-date September continued at a brisk pace with approximately the same number of sales as the first nine months of 2014. The average sales price during this period increased 13% over prior year, with an average of $530,698 vs. $467,474 in 2014.

Luxury properties priced above $2 million remained in strong demand with the number of sales in this segment up almost 6% year-to-date and up 13% during the past 12 months.

NEW LISTINGS/INVENTORY

Available inventory on October 1, 2015 consisted of 4,359 single family homes and condominiums in the Naples, Bonita Springs, Estero combined market. This represents a 4.5% decline from October 1, 2014, and 3.9 months of supply based on closings during the past 12 months.

Asking price of properties placed on the market during the past 12 months increased 12.7% over the 12 months ending September 30, 2014 to an average of $612,567. Median list price is up 16.5% over the same period.

AVERAGE AND MEDIAN SALES PRICE

Average price of closed sales during the month of September increased 11.4% year-over-year, while median closed price is up 16.8% over September 2014.

Average price of sales above $2 million increased 12.3% over the past 12 months, indicative of the high demand for luxury properties in the Southwest Florida area.

12 Month Comparisons
12 Month Comparisons
12 Month Comparisons
12 Month Comparisons

 

John R. Wood Properties
“The source of this real property information is the copyrighted and proprietary database of Southwest Florida MLS, Copyright 2015, and the proprietary compilation of that data by John R. Wood Properties, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data.”

Visit Naples.House for luxury homes for sale in Naples, Bonita Springs, Estero, Sanibel and Captiva Islands, and Marco Island!

Welcome to Season!

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To our many seasonal residents, welcome back to your
‘other home’.  

To our year-round residents, let’s get the party started. 

To our friends and future neighbors…come enjoy Endless Summers
with us!

Visit Naples.House for luxury homes for sale in Naples, Bonita Springs, Estero, Sanibel and Captiva Islands, and Marco Island!