April 2023 - The Naples real estate market enjoyed another month of increased home values driven by below typical inventory levels. According to the April 2023 Market Report NABOR®, who tracks home listings and sales within Collier County (excluding Marco Island), overall inventory increased 64.4 percent in April to 2,868 from 1,745 homes for sale in April 2022.
“One factor holding back home sales right now is interest rates,” said Vice President Downing-Frye Realty, Inc. “Even though a majority of our sales in Naples are cash transactions, many buyers who own a home up north and want to purchase a home in Naples are having difficulties selling their northern home because potential buyers that can afford a mortgage at today’s rates is limited.”
Interest rates may also be influencing sellers in Naples who currently enjoy a low interest rate on their mortgage. In April, new listings decreased 25 percent to 1,116 new listings from 1,488 new listings in April 2022.
Months of inventory is decreasing in communities off the water and east of I-75; a sign that living in close proximity to the beach is not always a required factor of homeownership in Naples..
In January 2019, the Vineyards had 10 months of inventory; and today it has less than a month indicating that some areas east SR 951 has become more desirable.
First Quarter 2023
Closed sales of residential properties during the first quarter of 2023 exceeded closed sales in the first quarter of 2019 (pre-pandemic) when inventory levels were nearly three times the current level. According the the March 2023 report by the Naples Area Board of Realtors which includes Marco Island, overall inventory increased 92.4% to 2,900 properties from 1,507 in March 2022. While historically low at 3.6 months of inventory, Naples has continued to increase ever since it bottomed at 0.8 months in December 2021.
Speculators are of the impression that even though buyers today are facing headwinds like high interest rates, rising property and flood insurance rates, and low interest levels, these factors are not diminishing people’s desire to live in Naples.
Kelly Greens Golf & Country Club - Fort Myers (unique opp)
Kelly Green Golf and Country Club (deep discount storm damage)
Prime location with long lake and golf course views. [12730 Kelly Palm Drive, Fort Myers]. Spacious 1822 sf, 2 bedroom + den, 2 full baths on an oversized 12,123 sf lot. Open floor plan, vaulted ceilings - this property was flooded by hurricane however remediated within 5 days of flooding. This is a private bundled golfing community with an 18 hole par 72 championship course which has reopened. Top class clay tennis courts, restaurants, driving range and much more . $400,000 as is, where is, with all faults — cash offers.
Just listed! 552 Alminar Coral Gables…
552 Alminar Avenue | located in a prime Coral Gables location (Riviera Section) with close proximity to world class shopping and dining. 2 bedroom 2 bathroom, 1428 sf . Complete renovation in 2020. Open House Saturday 11/5 Noon-2.30
Every once in a while a stunner hits the market! This is one…. 2 bedroom 2 bathroom located in the prime Riviera Section of Coral Gables. Enjoy world class dining and shopping only minutes from your doorstep. This meticulously kept property is completely renovated with only the finest finishes. Gorgeous kitchen, bright spacious living areas, an inviting entertainment area in the back yard surrounded by fresh professionally designed landscaping and lighting. Many surprising improvements .. visit our open house Saturday November 5th 12-2 pm. MLS A11296385. $1,100,000
Just sold - Stonecreek N. Naples
4594 Luminary Avenue, Naples. Just sold!
4594 Luminary Avenue, Naples 34119
Casual luxury offered in a popular North Naples gated community. 6 bedroom, 5 bath, 3 car garage in a family oriented community. Modern finishes, pretty screened pool patio area with incredible amenities. $1,300,000
Pinecrest leasing opportunity
Prime Pinecrest location rental opportunity
12741 SW 72 Avenue, Pinecrest Cool oak lined mid century Village of Pinecrest! For lease 4 bedroom 3 bath ranch style rental property offers an impressive sandstone foyer entry with a perfect family floor plan. Enjoy a relaxing covered patio and a refreshing pool accessible from all common areas. Porcelain floors throughout. The best private and public schools, within close proximity of major freeways, world class shopping, gardens and parks. $7500/ month. #tutulemma #sellbuylease MLS A11121214. RENTED
Laura Valdivia joins Tutulemma
Real estate just got friendlier!
It is with pleasure we welcome Laura Valdivia as a licensed agent to the Tutulemma group of Realtors.. With her successful career in the Miami Art community and her background in travel, she is a perfect addition for our Miami office. Laura is available for all your real estate needs at 305-216-3450 or Laura@tutulemma.net
Tutulemma is powered by Willis Wilson and Associates Licensed Real Estate Broker.
Living in beautiful Naples
Naples is nestled between the Everglades and the pretty shores of the Gulf of Mexico in Collier County. Naples is long known as a retirement spot for the rich and famous offering pristine beaches, renowned golf courses, fine dining and shopping. The area is subject to a seasonal ebb and flow as residents from cold weather states arrive for the winters months to enjoy endless sunshine, golfing, fabulous sunsets, arts and entertainment and the joy of a short drive to larger cities such as Tampa and Miami. Naples is ranked as having the 6th-highest per capita income in the country.
US News published the following rankings for Naples
#7 Best Places to Live
#2 Best Places to Retire
#1 Best Place to Live in Florida
#4 Fastest growing Places
#3. Quality of Life
Entering Thanks❤️giving!
Gratitude is one of the most powerful practices for living a serene daily life. Cultivating thankfulness for being part of life blossoms into a feeling of being blessed, not in the sense of winning the lottery but in a more refined appreciation for the interdependent nature of life. It elicits feelings of generosity which creates joy. Gratitude will soften the heart that has become too guarded and it builds the capacity for forgiveness. Let’s all reflect and celebrate the grace of giving thanks!
“Closed” Pelican Marsh, Naples
Just Sold - 971 Egrets Walk Circle Luxury 3 bedroom 2 bath carriage home in Pelican Marsh! Incredible community featuring premium golf, tennis club, fitness center, several community pools, bike paths in a park-like setting. Close proximity to Vanderbilt Beach
Luxurious 3 bedroom 2 bath carriage home Egrets Walk a subdivision of Pelican Marsh. Wonderful amenities include golf, tennis, swimming pools, bike paths and close proximity to Vanderbilt Beach. #tutulemma #SellBuyLease
Field of Flags honoring victims of 9/11/01
Naples, Florida Living in the hearts of Americans is the resilience and courage that we shall never bend to terrorism. In honor of the 2,977 victims and the brave first responders #WeShallNeverForget
🇺🇸🇺🇸🇺🇸
Biscayne Beach #1709 “CLOSED”
Just Sold - Biscayne Beach 1709! ⭐️⭐️⭐️⭐️⭐️
Sheer luxury in the hottest neighborhood…. 2 bedroom 2 bath featuring the finest amenities. Congratulations to our first time homeowner… 😁
1 bedroom + den 2 baths with wonderful Bay views. Congratulations to our friend and Buyer and cooperating broker Grand Realty.. . #tutulemma #BiscayneBeach #miamiheat
Cool, oak lined mid-century in the village of Pinecrest!
New Listing Prime Location Pinecrest
New Listing …… 12741 SW 72 Avenue, Pinecrest. Chic sandstone foyer sets the tone for this tropical 4 bedroom 3 bath with sensational pool views. Great open concept home hosts formal living room with fireplace, dining room + a large Florida room with beamed vaulted ceilings and full bath. Pool area complimented with a covered patio and fenced yard. Porcelain floors throughout. Best private and public schools. 16,248 sf lot, MLS A11061356.
$1,400,000
New listing! Unique Paramount Bay townhouse!
Live + Work a perfect blend of autonomous living designed by Lenny Kravitz Group in a comfortable luxury condo. Fabulous 2 story with 20 ft ceilings, 1637 sf, 2 bedroom 2 bath, one bedroom on each level. Loft balcony serves as a den. Subzero / Wolfe appliances, wine chiller, full washer and dryer. Tiled floors, African mahogany stairs. Crazy great amenities 2 pools, cabanas, outdoor grilling, movies, pool table, spa, gym, walk to enormous Margaret Pace park +++. Year built 2010. MLS A11026303 $675,000
New listing! Remodeled townhouse @ Lakeridge for sale
$535,000. 7082 SW 53 Lane, South Miami. Complete modern renovation located in the desirable nature-based, guard-gated community of Lakeridge. This two-story, 2 bed/2.5 bath, townhouse features an expanded living area and master suite with vaulted ceilings. Gorgeous open kitchen with bright white quartz counters, custom cabinetry, quality stainless steel appliances, and porcelain plank floors with a whitewashed finish imported from Spain. New baths, newer roof, newer AC, tankless water heater and LG washer/dryer. Private terraces in both front and back of the home. Plenty of storage and so much more. The community features 2 pools, spa, tennis, walking paths, children’s playground. Low maintenance. Well managed community. MLS A11025098
For sale by owner? Here’s good news…
While FSBO motivation is generally financial, statistics show that selling a home with the assistance of a Realtor will actually result in a higher profit. According to the National Association of Realtor’s, the average FSBO sales price was $217,700, while the average price for a home represented by an agent was $295,000, a difference of $77,300!
Therefore, listing with a real estate agent benefits the seller!
The most difficult tasks for FSBO sellers:
preparing & fixing home for sale 12%
understanding and performing paperwork 10%
getting the right price 9%
selling within the planned length of time 6%
88% of buyers purchased their home through a real estate agent or broker—a share that has steadily increased from 69 percent in 2001.
Buyers who would use their agent again or recommend their agent to others: 91%
Where buyers found the home they purchased:
Internet: 52%
Real estate agent: 29%
Yard sign/open house sign: 6%
Friend, relative, or neighbor: 5%
Home builder or their agent: 6%
Directly from sellers/Knew the sellers: 2%
Source National Association of Realtors 2020 profile of home buyers
2020 N Bayshore #1609
New Listing at Paramount Bay, Miami!
FOR SALE at PARAMOUNT BAY, 2 bedroom 2 bath $650,000 1,128 sf
Urban sanctuary with resort amenities and fantastic direct bay views. 10’ ceilings, morning pool, afternoon pool, outdoor grille, cabanas, fire pit, lawn theatre, 2 story fitness center, pilates, teen/kids center, private elevators, much more! The unit is a spacious 1+den professionally converted to a 2 bedroom. Diagonal 20x40 white tile, state of the art appliances, lush master suite, beautiful balcony. One block from Margaret Pace Park, minutes from the Performing Arts Center, Wynwood, Design District, South Beach, airports, world class shopping and hospitals.
Hamilton Harbor Yacht Club
A casual waterfront destination tucked away in a protected harbor providing the most convenient access to the Gulf of Mexico. Hamilton Harbor offers the finest boating, sport fishing, nature watching and sunsets in Southwest Florida.
Hamilton Harbor is one of the most advanced boat storage facilities for up to 325 boats. The boathouse was constructed to withstand up to 150 mph winds.
The Clubhouse was built in 2008 with classic architecture respectful of its natural setting. There is nothing like a warm sunny day on the water combined with casual fine dining and breathtaking views of a Florida sunset.
7065 Hamilton Avenue, Naples Florida 34112
This property absolutely deserves a visit #tutulemma #SellBuyLease #Napes
Evenings on 5th are back…
It’s 2021 and 5th Avenue is booming! Evenings on Fifth Avenue South are back.
Those heading to Fifth Avenue South can enjoy live music, shopping, dining an dancing every second Thursday of the month through March 11th.
6.30 to 9.30 pm
FifthAvenueSouth.com
Naples Market Analysis
Broker analysts who reviewed the October Market Report anticipate more sellers will enter the market over the next few months as the lure of paradise is already beckoning seasonal and foreign visitors back to our shores now that many international travel restrictions have been lifted and the threat of COVID-19 has been reduced. The report shows pre-season interest already in play as October’s pending sales (1,186 pending sales) and showings (33,578) were above summer month levels
Inventory continues to shrink …. however, is there relief on the horizon? There is definitely an intolerance to price as reductions are finally taking place with an increase of median sale price up from $365,000 to $450,000 in 2021.
