Property-Market-Update-2016

NAPLES MARKET UPDATE

 

(June 16, 2017) – Overall closed sales of homes in May shined brighter than any other month previously reported in 2017, with an impressive 23 percent increase to 1,027 closed sales in May 2017 from 838 closed sales in May 2016. Likewise, overall pending sales (homes under contract) also outperformed activity reported in the last four months. Leading broker analysts who reviewed the May 2017 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), are quite confident that real estate agents will be very busy this summer.

As noted by Coco Amar, a managing broker at John R. Wood Properties, activity in the $2 million and above price category has really picked up strength this year. As reflected in the report, overall pending sales in the $2 million and above price category increased 52 percent in May. There were also 78 closed sales of homes in this price category in May 2017, up from 36 closed sales in May 2016.

According to Kathy Zorn, broker/owner of Better Homes and Gardens Real Estate Pristine, “Buyers who are looking for a condominium in the Naples Beach or North Naples area this summer may encounter some challenges as these areas are running low on inventory.” Zorn pointed out that in North Naples there was a 47 percent increase in closed sales of condominiums during May, a 26 percent increase in pending sales of condominiums during May, and only a 9 percent increase in inventory.The situation is even more alarming on the beach, as both pending and closed sales of condominiums increased by double digits, but its inventory rose only 1 percent in May.

CATEGORIES % CHANGE
Total Homes Pending ^ 12%
Total Closed Sales ^ 23%
CONDO closed Sales ^ 24%
NORTH NAPLES CONDO PENDING ^ 26%
NORTH NAPLES CONDO CLOSED ^ 47%
MEDIAN CLOSED PRICE CONDO ^ 20%
Condo’s over $1Million Closed ^ 50%
Condo’s over $2 Million May-May ^ 233%
Condo’s over $2Million YTD ^ 32%
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Kalea Bay’s first tower nears sellout Florida Weekly

Kalea Bay’s first tower nears sellout Tower 2 released for sale

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    Kalea Bay’s first tower nears sellout Tower 2 released for sale Above: All master bedrooms offer views of the Gulf of Mexico. Kalea Bay residences have very open floor plans. Tower 2, which was released for sale at the start of the year, is 22 stories tall. Right: Kalea Bay’s 88,000-square-foot clubhouse, with three pools, is slated to be completed in November. Kalea Bay’s Tower 1 and Tower 2 were designed with rooftop amenities, including a sky lounge, spectacular pool and open-air fitness center. Kalea Bay, the gated, resort-lifestyle, high-rise community located on Vanderbilt Drive in North Naples, announced the community’s second tower has been released for sale. “Our first tower, which is under construction and scheduled to be completed in November, is approaching the 90 percent sold mark,” stated Inga Lodge, Vice President of Sales and Marketing for Kalea Bay. “The approaching sellout of Tower 1 and the overwhelming response from our buyers prompted us to release Tower 2. Currently, the number of residences already reserved in our second tower exceeds the $40 million mark.” The new 22-story tower, with 120 residences, will have 20 floors of residences over two floors of parking. The incredibly designed residences offer views of the Gulf of Mexico and pristine nature preserve. Six floor plans are available in Tower 2. Residences 1 and 6 are 3-bedroom plus den/3.5 bath plans with 3,704 total square feet. Residences 2 and 5, with 4 bedrooms, 4.5 baths, have 3,791 total square feet. Residences 3 and 4 are 4-bedroom/4.5- bath plans also with 3,791 total square feet. “Residents will revel in Gulf views, open floor plans, a private elevator leading directly into their residence and wood floors throughout,” said Lodge. The custom kitchens have Wolf and SubZero appliances, a natural gas range, luxury cabinetry, quartz countertops, a Butler’s pantry and oversized island, all of which are standard features. “Our floor plans have an open design we call ‘lifestyle designs’ that blends the kitchen seamlessly into the living and dining rooms, perfect for the way people live today,” said Lodge. The master bedroom includes an oversized walk-in closet while the master bath has his and hers vanities, quartz countertops, luxury cabinetry, a soaking tub and separate glass-enclosed shower. “All master suites, kitchens and main living areas have direct views to the water and preserve. They are perfect vantage points to watch our spectacular sunsets,” Lodge said. Additional residential features include floor-to-ceiling windows and doors that open to large lanais with transparent glass rails. “We take our outdoor living as seriously as our indoor living with oversized lanais on every residence,” said Lodge. High-tech wiring and fully equipped laundry rooms round out the list of features, she noted. Dramatic views are available to every homeowner, no matter which floor they live on as the tower’s amenities are located on the rooftop including the sky lounge, a dramatic pool and the openair fitness center. From the rooftop, residents can enjoy daily views of the Gulf of Mexico, the nature preserves and two beaches ranked among the best in the United States. Prices at Kalea Bay begin at $1.3 million in Tower 1 and $1.4 million in Tower 2. In addition to the rooftop amenities, the residents of Kalea Bay will also enjoy the community’s clubhouse area, which is also under construction and due to be completed when the first residents move into their new homes. “The clubhouse area will be the social and recreational centerpiece of the community,” said Lodge. Kalea Bay’s 88,000-square-foot clubhouse is located on the north side of the large lake at the community’s entrance. It will feature three individual pools, including a resort pool, an adults-only pool and a children’s pool, plus an expansive pool deck, a poolside bistro, open-air bar, an indoor/outdoor restaurant, a sundries shop, and a state-of-theart fitness center. “All three pools will overlook the lake and provide a multitude of recreational options for everyone who lives and visits here,” said Lodge. “Expansive sun decks with lounge chairs and native, tropical plants will separate each of the three pools for the ultimate in privacy.” If basking in the sun or taking a refreshing dip in the pool isn’t on a resident’s schedule, perhaps meeting friends for lunch, dinner or drinks is. “What better way to celebrate the good life in Florida than meeting family and friends for drinks while watching the sun set over the Gulf of Mexico,” said Lodge. “This is what living in Florida is supposed to be.” Adjacent to the clubhouse is the tennis pavilion with Har-Tru tennis courts, as well as pickleball courts, and 24 guest suites to accommodate overnight guests and family members. “Having that number of guest suites is unusual for a luxury high-rise community, but it’s an amenity our residents are excited about especially when they have extended family visiting,” sai

Source: Kalea Bay’s first tower nears sellout Tower 2 released for sale