Monthly Market Report for August 2016

Naples / Bonita Springs / Estero / Marco Island Market Area

Click for Full Report
Click for Full Market Report, August 2016

NAPLES, BONITA SPRINGS/ESTERO Closed Sales

  •   During the 12 months ending August 31, 2016, the Naples/Bonita Springs and Estero market had a total of 11,713 closings, 12% lower than the prior 12-month period when there were 13,280. (Ex 1a)
  •   Year-to-date closed sales for Naples/Bonita Springs and Estero were 8,068 at an average price of $529,228 vs 9,448 at an average price of $529,539 YTD 2015. This represents a 15% sales pace reduction from last year, with pricing stable.
  •   Closed sales priced above $2 million year-to-date fell 23% for the Naples/Bonita Springs and Estero market, when compared to the same period in 2015. During the past 12 months, sales in this price category are down 14% (399 vs 462).

New Listings/Inventory

  •   Available inventory on September 1, 2016 for the Naples/Bonita Springs and Estero markets consisted of 5,839 units, down from 5,991 units last month and up from 4,198 units a year ago.
  •   During the 12 months ending August 31, 2016 there were a total of 19,736 new listings added to the Naples/Bonita Springs and Estero market which is 6% more than the same period ending in 2015. (Ex 1a)

Average and Median Sales Price

    •   Average price of closed sales in the Naples/Bonita Springs and Estero market during the month of August was the same year-over-year, while median closed price is up 6.7%.
    •   Average price of sales above $2 million has remained approximately the same over the past 12 months, decreasing less than 2% to $3,793,159.

MARCO ISLAND Closed Sales

  •   During the 12 months ending August 31, 2016, the Marco Island area had 850 closings, down 13.4% from the same period last year when there were 982 closings. (Ex 1b)

  Year-to-date closed sales for Marco Island total 599, at an average price of $699,269, vs 805 closed sales YTD 2015 at an average price of $707,234. This represents a reduction in sales volume of 25% and relatively stable pricing year-over-year.

New Listings/Inventory

  •  Available inventory on September 1, 2016 for the Marco Island market consisted of a total of 641 units, compared to 617 units last month.

During the 12 months ending August 31, 2016 there were a total of 1,504 new listings added to the Marco Island market. This represents a 9.6% increase over the same period last year when there were 1,372 new listings added. (Ex 1b)

Average and Median Sales Price

  • Average price of closed sales in the Marco Island market during the month of August rose a modest 1.1% year over year, while the median pricing was up 4.82% from the same period last year.

*The new Marco Island statistics have been obtained from the Marco Island MLS system and include only those sales and current listings on Marco Island and Key Marco.

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John R. Wood: #1 Residential Real Estate Company

John R. Wood: #1 Residential Real Estate Company
John R. Wood: #1 Residential Real Estate Company

When it comes to per agent productivity, John R. Wood Properties sets the bar. RealTrends, the recognized keeper of statistics for the national residential real estate industry since 1988, has named John R. Wood Properties the number one residential real estate company in Florida for per agent productivity and number 18 in the nation for per agent productivity.

Overall, John R. Wood ranked 65 out of 500 brokerages in the nation with total closed sales volume of $2.365 billion.

“Obviously, we knew we were doing well this year, but we didn’t realize how well we were doing against our competition until the RealTrends Report was released,” said Phil Wood, president.  “We know we have the best of the best when it comes to agents and staff and this report has proven it year after year.”

Even more impressive is the fact that many of the competing firms listed as top residential brokerages are affiliates of franchise organizations whereas John R. Wood is an independent, family-owned, and locally-based real estate firm.

The REAL Trends 500 is a leading report that has been ranking the performance of top residential real estate brokerage firms for the last 29 years.  Firms are ranked by both transaction sides and sales volume.  Information collected must be independently verified which is why the the REAL Trends 500 remains the trusted source for information about the performance of real estate firms. For the 2016 REAL Trends Survey firms needed to close a minimum of 1,702 transaction sides in 2015 to place in the top 500.

In addition to these rankings, John R. Wood Properties is Southwest Florida’s oldest major real estate firm representing over 3500 clients annually through its 14 offices from Marco Island to Sanibel and Captiva.

 

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Go Deep

Imagine building a home and just two hours later having it be full of life. That’s what happens when an artificial reef is sunk off the Gulf Coast.

This established artificial reef is located about 29 miles west of Marco. Someday the new reefs will resemble this one.
This established artificial reef is located about 29 miles west of Marco. Someday the new reefs will resemble this one.

Collier County’s new artificial reef project is joining local municipalities, scientists, the Corps of Engineers, the Community Foundation of Collier County and private citizens to beef up the amount of sea life in local waters. The Economic Recovery Task Force of Collier County and its Artificial Reef project team are spearheading the project, but a wide cross-section of agencies and individuals are supporting the initiative too.

At press time, all 36 concrete artificial reefs were expected to be in place. Since placement of the first reef in January, div- ers and boat captains have reported not only more marine life but also different species, says Diane Flagg of the Economic Recovery Task Force.

One unique thing spotted on the new reefs is a whale shark. “In talking to a boat captain who’s been on the water for 30 years, he said he’s never seen one,” said Flagg, who helms the ERTF with co-chair Jeff Ahren. “And nobody we’ve ever talk- ed to has seen a whale shark off the coast of Naples.”

And the more sea life, the more vital the economy. According to the task force’s business plan, within two years the reefs could bring in $30 million annually through boating, diving, hotel accom- modations and even fishing tournaments.

This dollar figure is based on a formula from the University of Florida’s 2011 Sea Grant Study.

Local lawyer Peter Flood first raised the idea for a reef. Flood approached Flagg just as she was about to retire as director of code enforcement for Collier County. His timing was good: Flagg would be able to devote the hours needed to help get the project going.

Buy-in came from everywhere, as Flagg tells it. All three local municipalities – the cities of Naples and Marco Island plus Collier County approved the project and applied for and received settlement money from BP as reparations for the 2010 Deep- water Horizon Oil Spill.

The reefs have been placed in locations 12-30 miles offshore. Each spot was formerly described as a “desert.” This was a require- ment, said Flagg. The Army Corps of Engineers would only approve permits for places where no marine life already congregated.

A documentary in progress titled “Paradise Reef: The World is Watching,” will hopefully sell the project to citizens. Filmmaker John Scoular, who has been on board since the beginning, has a letter of intent from PBS to distribute the film. Scoular has been filming interviews and footage on location as the reefs have been deployed.

Longtime cameraman Scoular along with his wife, producer Madeline Scoular, joined Lance and Harry Julian of Naples in Pure Image Productions for the project. Through their company Marine Team International, the Julians have acted as consultants on water-related films included “Waterworld,” “Titanic,” “Fool’s Gold” and other projects.

jeremysterk.com Soon after deployment, fish start populating the reef.
jeremysterk.com
Soon after deployment, fish start populating the reef.

With “Paradise Reef,” Scoular admits they rather “put the cart before the horse” and started filming with their own money so as not to miss any part of the process. Scoular need about $527,000), viewers will see the reefs being constructed and placed from start to finish. Each reef is eight feet tall and has a sturdy base, which enables it to withstand the Gulf ’s current. Some have concrete benches that were lowered with airbags and placed on the sea floor. Divers can sit on these benches and watch the local sea life playing in their new home. The benches were donated by the city of Naples, Flagg said. “They were going to break them up and send them to the landfill. The beauty of this project is ultimate recycling. [Before this], they were going to go to the landfill.”

Over the years, other artificial reefs, many made of old ships, have been lowered into the Gulf. The World War II ship USS Mohawk was given a new home on the Gulf bottom 28 miles off the Sanibel coast in July 2012. Although artificial reef building is not a new phenomenon, organizers of the Collier County project claim it’s one of the largest projects in the area to-date.

Among the Paradise Reef installations, three so far are named for benefactors – the Wasmer family, Harold Foote, and former U.S. Ambassador Francis Rooney and Kathleen Rooney. Each family has donated $100,000 for a “legacy reef.” Forever appearing on marine charts will be the Wasmer Reef, the Foote Family Reef and the Rooney Reef.

Three more legacy reefs may be sponsored at $100,000 each. Donations from $25 to $500,000 can be made to support the project as well. For the latter sum, the documentary film will be dedicated to the donor.

 

 

Written by:  Dayna Harpster
dayna@swspotlight.com
Independent Journalism and Public Relations
WGCU Public Media
Editor, Expressions magazine
(239) 425-5124

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