Tag Archives: Condo

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%
Sunset May 2016

Onward and Upward….To 16th Floor

It’s the middle of May and we are ahead of schedule.  We have just started on the 16th floor.  The roof has been added to the  club fitness center, bistro and kids game room. Before you know it, we will be enclosing the roof.

Latest Construction Photos

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Back of Building at Sunset
Sunset May 2016
Sunset May 2016

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Construction Update

A VIEW FROM ABOVE

The transformation is taking place as we start construction of the club and continue to grow up a “floor” on Tower 100.  Things are moving at Kalea Bay.

We are excited to be ahead of schedule with the delivery of Tower 100 Fall of 2017. Demand for these exclusive residences has been strong as we are now over 50% sold out.  We presently have availability for ownership, priced from $1.3 Million for fully finished units.  All units are appointed with the highest of finishes.

Now is an excellent time to purchase one of our luxury residences and secure your choice in advance of an expected flurry of sales activity during the upcoming winter season.

To view our current construction video

market update

Third Quarter Market Update

 

Third Quarter Reports
“The third quarter report confirmed to us that summer was strong for home sales,” said Mike Hughes, NABOR® president.  More activity this summer than we normally see.

The North Naples Area for Condo sales saw a 15% increase in the median price! The inventory is down 6% and the average Condo’s were on the market was 48% less than last year at this time.

The number of closed sales for condo’s in the $1million-$2million price range were up 11% this 3rd quarter compared to last year.

Kalea Bay has 3 new sales in the last week of October.

We are expecting our selling season to be the best we have seen in years!

Naples picked a winner..

Best Small Cities in the U.S.: Readers’ Choice Awards 2015 – Condé Nast Traveler