The Market in a Minute

 More Inventory Could Be Hitting the Market in the Near Future

For the Week Ending May 11, 2018
The consumer price index, which measures inflation, was slightly lower than expected in April. Lack of inflationary pressure helps keep rates lower.
The producer price index was also a bit lower than April’s forecast, another sign of lower inflation pressure. Prices rose 0.1% instead of the expected 0.3%.
Oil prices continue to rise, hitting the highest levels since 2014. Increasing oil prices could push rates higher.
In response to new tax code limits on property tax deductibility, NJ has enacted legislation to let homeowners declare property taxes as charitable donations.
Could more inventory start hitting the market? In a recent FannieMae survey, 45% of respondents said it’s a good time to sell, a new survey high.
Amazon’s Alexa system is gaining ground in powering smart homes. New home builder Lennar announced plans to include the technology in all new homes.

 

Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.

 

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

SaveSave

SaveSave

SaveSave

SaveSave

SaveSave

Summer Staycations in Town

FORGET THE AIRPORT – THESE LOCAL RESORTS ARE OFFERING SOME OF THE BEST VACATIONS RIGHT IN OUR BACKYARD.

 

As summer draws to a close, there’s no better time to take a much-needed vacation than right before the hustle and bustle of the start of the season. If you’re craving a little rest and relaxation without the additional stress of making last-minute travel plans, why not try a staycation right here in town? These local resorts are featuring a variety of special offers for thesummer, some tailored specifically for Florida residents.

 

screen-shot-2016-09-15-at-10-35-23-amThis summer, guests can enjoy a series of special summer packages and room rates at Naples’ Ritz-Carlton resorts, including a family package with two rooms. Our top pick? The Summer Beach Package, valid through October 31st, which starts from $429 at the Ritz-Carlton, Naples and $229 at the Ritz-Carlton Golf Resort. Perfect for those who like to lie on the beach and enjoy delicious dining, this package includes overnight accommodations, daily breakfast, a $50 nightly dining credit toward lunch or dinner at Terrazza or dinner at Lemonia, complimentary use of two beach chairs and one umbrella at Vanderbilt Beach, and more.

 

The Vanderbilt Beach Resort is offering a complete minThe Vanderbilt Beach Resorti summer vacation package for just $205 per person. The mini vacation includes gulfside hotel accommodations for two nights, continental breakfast served in the resort’s Turtle Club restaurant each morning, lunch and dinner vouchers to a selection of local restaurants, and attraction tickets ranging from admission to the Naples Botanical Garden or the Naples Zoo to a Pure Naples boat cruise or narrated sightseeing trolley tour.

 

screen-shot-2016-09-15-at-10-31-54-am

At The Edgewater Beach Hotel (pictured right), Florida residents can save 25% off select room types plus a $25 daily resort credit. And if that’s not enough, try the Sun, Sand, and Savings package, which includes one umbrella rental per day, breakfast for two adults, and a waived resort fee. Valid through September 30, this offer is perfect for those hoping to spend the entire day relaxing on the the white sand of Naples Beach.

Source:  Naples Illustrated by Anna Bjorlin

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.”

Market Report for April 2016

 Market Report for April 2016

Naples / Bonita Springs / Estero Market Area

 

CLOSED SALES

Click for Full Report
Click for Full Market Report for April 2016
  •  There were 3,859 closed sales during the first 4 months of 2016, down from  4,799 closings during the same period in 2015.
  • The 9% decline in the number of closed sales over the past 12 months continues to be driven primarily by the 26% drop in sales priced below $250,000. Sales priced between $2 and $5 million remained approximately the same as the prior 12 months.
  • Closed sales priced above $2 million year-to-date fell 20% when compared to the same period in 2015 (155 vs 194).

NEW LISTINGS/INVENTORY

  • Available inventory on May 1, 2016 consisted of 6,810 units, up from 5,030 units on May 2, 2015.
  • During the month of April 2016 there were a total of 1,922 new listings added to the market.  This is the highest for the month since 2010.

AVERAGE AND MEDIAN SALES PRICE

  • Average price of closed sales during the month of April increased 5% year-over-year, while median closed price is up 8%.
  • Average price of sales above $2 million increased 2% over the past 12 months, from $3,791,661 to $3,868,535.

12-Month Comparison

NEW LISTINGS/CLOSED UNITS

Screen Shot 2016-05-17 at 11.21.35 AM

AVERAGE SALES PRICES

Screen Shot 2016-05-17 at 11.47.12 AM

 

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.”

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

Housing Outlook for 2016: Expect Change

Housing Outlook for 2016: Expect Change   While change is coming to the mortgage market, Freddie Mac says in its 2016 housing forecast that it’s too soon to tell whether marketplace lending is the next Uber or just another flash in the pan.

Home in Quail West
Quail West CC. Home,  Naples FL

“The current generation of marketplace lenders all may fail in the next economic downturn,” says Sean Becketti, Freddie Mac’s chief economist. “Regulators may impose higher standards on marketplace lenders. The cost advantages of marketplace lending may not extend to mortgage lending.”

But Becketti says the new year will undoubtedly bring changes: “Innovation is difficult to stop. New startups will look for ways to improve upon current marketplace lending business models. Large bank lenders may incorporate the most successful of the marketplace lending innovations. It’s difficult to say where all this will lead, but one prediction is indisputable. Expect change.”

Here are five more predictions for 2016 from the mortgage giant:

  1. The 30-year fixed-rate mortgage will likely average below 4.5 percent for 2016 on an annualized basis.
  2. Mortgage rates will gradually move higher posing an affordability challenge. But expect a strengthening labor market and pent-up demand to carry momentum into 2016.
  3. Home prices will likely moderate slightly to 4.4 percent in 2016, driven in part by the reduction in home buyer affordability and reduced demand as a result of Fed tightening.
  4. But industry activity will grow in 2016 despite monetary tightening. Expect total housing starts to increase 16 percent year-over-year and total home sales to increase 3 percent.
  5. While home purchases will increase next year, higher interest rates will reduce the refinance volume pushing overall mortgage originations lower in 2016 than in 2015.

Source: Freddie Mac

 

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 

Screen Shot 2015-09-30 at 7.56.08 PM

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!

Screen Shot 2015-10-15 at 1.56.11 PM

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!