Tag Archives: New 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%
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Transformation Continues

 

 

Kalea Bay  is a sight to behold.

Construction crews are hard at work making Kalea Bay and the Club come to life.

At 22 stories, Kalea Bay will be North Naples tallest building when completed next year. The project will contain 120 luxury condominiums —priced starting at $1.3 million — a 88,000 Amenity center and 24 guest suites is also on its way to completion.

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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

 

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Market Update…July 2015

REALTORS® Busy from Beaches to Beyond

Naples, Fla. (August 21, 2015) – Activity in the Naples area housing market continued its upward momentum moving into summer as evidenced in the July 2015 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). An 8% increase in overall pending sales (homes under contract) from 845 in July 2014 to 913 in July 2015 is one indication REALTORS® stayed busy in July. Unlike July 2014 where both overall pending sales and overall inventory decreased 13%, activity in July 2015 had many notable peaks and very few valleys. For example, overall inventory decreased 1% from 3,563 in July 2014 to 3,518 in July 2015, but inventory for single-family homes rebounded with a 7% increase from 1,906 single family homes in July 2014 to 2,040 single family homes in July 2015.“Overall pending sales for homes over $300,000 increased 23% from July 2014 compared to July 2015,” said Bill Coffey, Broker Manager of Amerivest Realty Naples, who also noted that overall closed sales for homes over $300,000 increased 16% from 4,123 homes in the 12-months ending July 2014 to 4,783 homes in the 12-months ending July 2015.

The NABOR® July 2015 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® July 2015 sales statistics are presented in chart format, including these overall (single- family and condominium) findings:

• Overall pending sales increased 8 % from 845 homes in July 2014 to 913 homes in July 2015.

• Overall closed sales increased 1% from 9,751 homes in the 12-months ending July 2014 to 9,879 homes in the 12-months ending July 2015.

• Overall closed sales for condominiums in the $300,000 – $500,000 price category increased 38% from 686 condominiums in the 12-months ending July 2014 to 947 condominiums in the 12-months  ending July 2015.

• Overall median closed price increased 14% from $259,000 in the 12-months ending July 2014 to $295,000 in the 12-months ending July 2015.

• Overall median closed price for homes over $300,000 decreased 5 % from $550,000 in the 12-months ending July 2014 to $520,000 in the 12-months ending July 2015.

• Overall median closed price for homes in the $2 million and above price category increased 16% from $2,850,000 in the 12-months ending July 2014 to $3,300,000 in the 12-months ending July 2015.

• Overall inventory decreased 1% from 3,563 homes in July 2014 to 3,518 homes in July 2015.

• Condominium inventory decreased 11 percent from 1,657 condominiums in July 2014 to 1,478 condominiums in July 2015.

• There is a 4.35 months supply of inventory.

• Conventional sales comprised 40 percent of all transactions in July 2015.

  • Average days on market did not change between July 2014 and July 2015 to remain at 77 days.

“Years ago summer was usually a slow season for sales in this area. Not any more. The past several years have had strong real estate sales in the summer months,” said Mike Hughes, NABOR® President, Vice President and General Manager of Downing-Frye Realty, Inc.

Ensure your next sale or purchase in the Naples area is a success, contact a REALTOR® on Naplesarea.com.

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Kalea Bay In The NEWS…….

extra-news

 

 

Not only have we been recognized in the Naples Daily News http://bit.ly/1QBw6vt and the News Press http://newspr.es/1HcDTOJ,  we are celebrating some major milestones this month!

May is turning out to be incredible for Kalea Bay.  Starting with the launch of construction May 18th!  We are also sending out contracts in the next week to those that shared Kalea Bay’s earliest vision are guaranteed their unit of choice!

We have $90 Million in reservations in just 3 months!  Fabulous views and extraordinary units are still available!  Stop by our Sales Center for your private tour!

 

 

 

 

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It All Happens Here…..

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 THE CLUB at Kalea Bay

A Convergence of style, substance & service will be evident at the 88,000 sqft Kalea Bay Amenity Center.

The Amenity Center has been created uniquely for the way people live today. Three pools, snack bar, internet cafe and restaurant with Indoor & outdoor poolside seating. Providing a casual and elegant ambience.

The beach entry children’s pool makes this ideal for even our youngest resident.
Relax with a cocktail at the adult only pool and Tiki bar
Main pool for everyone to enjoy, including fire pit and lounge seating
Twenty four guest suites
Six lit tennis courts and tennis pavilion

From family fun, to blissfully serene moments, to refined enjoyment…it will all happen here.  The Club at Kalea Bay