How’s the Naples Real Estate Market? Seasonal Buyers Rush In, Supplies Drop And Prices Pop. Nice.

One year ago the median Naples property sold for $315,000.  This month we are at $348,000 for a very nice 10.48% pop in year over year prices.  Natural demand, nationally ranked high growth area, high season, the #1 US environmental rating and solid US Equity markets all combined to drive buyers to buy in the Florida sunshine.

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This stunning home is close to downtown and the beach. It also overlooks a golf course!

At the heart of property price behavior in any real estate market is supply and demand coupled with inventory levels. The Naples market inventory improved to 9+ months due to a 10% increase in sales volumes.  This improves over last month’s to 10.09 figure as smaller and tighter supply drives prices.  This time last year supplies were slighty tighter at 8.52 months so the market seems to be keeping up. Inventories at today’s level are supportive of further price increases but support varies neighborhood by neighborhood.

Let’s look at price reductions.  Although buyers pay about 4% less than asking price for a listed property right now, the sellers had to work very hard to get there.  Sellers reduced prices from their original position a whopping 9.3% from the original price so as you can see sellers are working a lot harder to get those home sold and all is not so rosey.

There is also a large inventory  of luxury properties right now – both in Naples and on Marco Island.  Naples luxury properties (defined as properties listed above $2,000,000) have an inventory level of 19.22 months.  As we predicted over the last two months this inventory level is reducing luxury home prices – 1.56% YOY at the time of this writing, but gaining strength in recent days.

We are so pleased to report Coldwell Banker captured the largest market share of luxury property sales in the State of Florida for the year ending 2016.  We are number one!  Please contact us to see how we do it.

Another data point to watch – property selling speed.  Price concessions from the sellers are running in concert with tough selling conditions. Now it takes 60 days to sell a Naples property (on average) compared to 53 days last month.  We do not like to see selling speed slow downs in the peak of season and this is one of the slowest speeds we have seen in recent years.

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This month we are seeing a 10.48% pop in year over year prices.

The canary is still singing sweetly! Readers will remember condo prices  fell a full year before single family home prices in the Great Recession so they may be a great “canary in the mine” to foretell future trends.  Average condo prices rose and inventories tightened – just what we like to see see in the height of season.  No bust yet.

We all know real estate is local, so what is happening in different neighborhoods? Oh good, more data!

Olde Naples – “I made up my mind to move to Naples as soon as I stepped out on that beach.”
Our first neighborhood stop is Olde Naples. Who doesn’t like Olde Naples? The “urbans” love to walk everywhere – beach, shops, restaurants with no car or even scooter. But … is real estate selling at these prices? Well, things improved this month.  Inventories dropped to 10+ months from 13+ months and are now supportive of current prices.

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This condo with great outdoor space is available in Pelican Bay.

Pelican Bay – “I love the tram to the beach and eating at the beach club!”
Pelican Bay continues to roll with its popular beach access and fine homes. Inventories tightened again this period to 9+months from 12+ months last month. This is a great place to live with awesome amenities and 2 beach clubs.  Take a look – there are some great values here.

Windstar On Naples Bay – “A one of kind community with a yacht club, a golf course and a private shuttle to Keewaydin Island  – all on Naples Bay”
This community made another strong showing this month with inventories dropping under 7 months – very supportive of pries and a sign this neighborhood has a lot to offer. Tom Fazzio’s first Florida golf course and a yacht club all on Naples Bay!  The surrounding area booms with the new development and a recently announced Opera House.  A great option for many people.

Crayton Road – “The charm of this near north side neighborhood away from the maddening crowd is truly wonderful”
Crayton Road continues to flourish and you will want to see the Coldwell banker’s new luxury listing on Putter Point.  The area’s inventory improved to 12+ months for 14+ months and reached thee theoretical “equilibrium” point.  We should now see stable prices here.– we will see!

Royal Harbor – “On water living and walkable to town and new development on the way”
We sold a beautiful on-water 3,000 square foot new home to a wonderful couple this month.  Now they can enjoy a way to town and an incredible on-water lifestyle. Royal Harbor inventory increased to 11+ months from 10+ months – still supportive of prices but we will need to see some strengthening to support future prices from here. The area holds so much future promise with the rise of the “Urbans” and a walkable culture coupled with new commercial developments in the area.  If you are in town you can see the “Trio” development coming out of the ground at US 41 and Davis. On water, single family homes, convenience to 5th avenue, a spa within walking distance and an ever-increasing Naples “downtown” footprint – there is a lot to like in this area.

Port Royal and Aqualane Shores – “one of the finest enclaves anywhere”
Port Royal and Aqualane Shores inventories improved to 13+ months from 21+ months in one of the strongest showings in a while.  Clearly our wonderful town and climate caused a lot of buyers to move in and purchase these wonderful homes.  At this inventory level we see some support for current prices.

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Beautiful outdoor living in Naples.

Marco Island – “island life and the beach at Tiger Tail offer a remarkable experience”
Marco Island inventories improved to 11+ months from 14+ months and are now supportive of current prices. Houses and condos may be less pricey here compared to Naples and include incredible boating, golf, tennis and beach lifestyles. Check it out with us – there is a lot to love about Marco Island but expect some price pull backs here.  Our colleagues in the Marco Island Coldwell Banker provide excellent service.

What we continue to find interesting on Marco Island is the struggling luxury single family home market – defined as properties above $2,000,000. Many of these properties offer incredible bay views. Inventories are now up to a whopping 32 months and although this improves on last month’s 50+ month figure prices should fall. If you like the Island and you are looking for a great place, prices should continue to drop here. The market is adjusting but you could find some real deals here with us.

And the story on new construction?  The big market dynamic of new construction continues and perhaps we are now overbuilt slightly.  It is tough to capture real data from the developers but the scuttlebutt is “we are a little far out over our skis” meaning overbuilt. There are an estimated 18 new communities in Collier County at a variety of price points with some fantastic floor plans. Developers offer some nice incentives  to encourage sales. If you are considering new construction right now, this is a good time to be looking.

So our market is building momentum during our high tourist season.  Over all supply is supportive of prices but it is not the real estate season of the last two years.  Will the international buyers look past the strong dollar and deliver a strong summer real estate season?  We will see.  Just what we would need to keep the new momentum going!

Please give us a call if you are considering buying or selling in Naples. We would love to talk with you!

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March Update: Island Cottages in a Naples Bay Village

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The Island Cottages in a Naples Bay Village are creating quite a buzz around the Bayshore Arts District and Naples that we wanted to post another update for March.  If you missed our previous posts about these new construction Florida style cottages, you can read about them here and here.

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The Key West House sold in February 2017.

As we mentioned in previous posts, the Key West House has sold and we broke ground on cottage #2, the Bahama Cottage in December.  If you’ll remember, the cottages are built on a speculative basis and are designed to grow. We start by designing the site plan and building the basic house: a great room (living room, dining room and kitchen) and three bedrooms, 2 ½ baths, the white picket fence, a large friendly front porch and an even bigger screened lanai facing out to the fully fenced and landscaped back yard. Parking is also to the rear.

 

Then the buyer can add additional customization when and if they want to. For instance, they may want a garage (one, two or three cars!) or a pool/spa or a small guest house (stand alone or above the garage “Carriage House” or “Mews” style) or a garden shed or boat storage building etc, etc. You get the picture.

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The Bahama Cottage is currently under construction.

The Bahama Cottage is going to be 1825 sq. ft. of air conditioned space built in a Dutch West Indies style with a dramatic parapet façade behind the even larger friendly front porch. This cottage has a first floor master suite as many of our guests/prospects for Key West House mentioned that desire. That said, there are many similarities to the Key West House:
A White picket fence and gate at the heavily landscaped front

Large fenced-in backyard sanctuary

A 560 sq. ft. screened lanai

Large kitchen with a huge island and lovely cabinets

A spacious pantry

A spacious laundry room

Three bedrooms, 2 ½ baths

We are also happily working on Cottage #3, the Tuckernuck Island Cottage. This will be the first custom build-to-suit for a new home owner. The owners wanted to be in The Bayshore Arts District because they have enjoyed seeing it improve in recent years and they believe that an investment in The Bayshore Arts District will be a great long term bet.

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The large pond behind Tuckernuck Island Cottage.

Tuckernuck Island Cottage will be an old Florida design with an enormous great room, master suite and wrap around covered and screened lanai all sharing the lovely first floor view of the large pond out back.  Other nice touches are a pantry/laundry/accessory room off the kitchen and an outdoor kitchen and outdoor living area with a TV over a fireplace on the large lanai.

In addition, the house will have a first floor guest suite adjacent to the “you got to have it” friendly front porch. Like all the Island Cottages, the front yard will be wrapped in a white picket fence and heavy landscaping but this home will have a set-back 2½ car garage. Upstairs will be another guest room and bath and a multi-purpose “Loft/Den” with a great pond view.

The goal is to break ground this spring so that the new owners can have occupancy of their new home in the late fall or early winter.

The last update for this month is on cottage #4, the Gasparilla Island House. The goal is to be building this cottage simultaneously with Tuckernuck Island Cottage this summer and fall. It will be a slightly larger version of the Key West House and Bahama Cottage. The Gasparilla Island House will be used as a model of what can be achieved on these 6850 sq.ft. lots in The Island Cottages in a Naples Bay Village.

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Front elevation of the Gasparilla Island House.

Some of the popular amenities will be added to the basic house so that future buyers can visualize how a pool, spa, garage and guest loft can be integrated into the design. The house will have traditional southern double-decker porches at the street face, a soaring two story living room, three bedrooms (two will be master bedrooms, one up and one down) and a second level balcony office/den.

This great street in the Bayshore Arts District is certainly coming together nicely!

If you want to discuss any potential interest in The Island Cottages in a Naples Bay Village please call David at 239-285-2038.

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Our Favorite Listings

March in Naples means good weather, friends and family members visiting for spring break, and the entire town switched “on”. It’s a fun time to be here because of all the happenings going on around town. It’s also a great time to buy or list your home. Buyers are in town and sellers are ready for them! Take a look at our favorite listings this month and let us know when we can schedule your tour.

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Spectacular Florida Living
$935,000

This popular Camillia floorplan is better than brand new! An exceptional property with a preferred southern exposure with lake view on an oversized lot to maximize privacy.  Extensive upgrades indoors include, wood like tile flooring throughout the whole house, upgraded baths, kitchen with induction cooktop, double ovens and oversized refrigerator and custom closets. Outdoor upgrades include outdoor kitchen with gas grill and bar fridge,  extensive landscaping, salt water pool and pool bath.  The Isles is a new community close to old Naples and Naples bay. The amenities include a clubhouse with fitness facilities and program, lap pool, resort pool, tennis, pickleball and kayaking and paddleboarding. All included as part of the low HOA fees.

Full tour: http://tours.napleskenny.com/710906

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Wonderful and Spacious
$479,000

A very rare south facing lake view with three car garage and over 4,300 square feet of total living area for less than $480,000.  The wide lake view with a wonderful outdoor living area adds to a spacious floor plan including a second floor loft, bedroom and bath. Beautifully maintained with spacious closets, a bonus storage room under a/c,  upgraded cherry kitchen cabinets and crown molding. New A/C, pool heater, pool pump, and pool salt system within the past year and a half. Enjoy the beauty of the Valencia Lakes gated community with clubhouse, resort pool, exercise room, playground, tennis and basketball and a brand new Publix minutes away. This one is well priced and sure to attract a lot of interest.

Full Tour: http://tours.napleskenny.com/726480?idx=1

Light and Bright, Close to the Beach
$249,000

Light and bright southern exposure welcomes you to a wonderful Naples retreat. Lots of updates, including kitchen, baths and air conditioning system.  The neutral decor allows maximum flexibility of design. This location is within walking or biking distance to the beach and the shops and dining at Venetian Village. Amenities include community pool, tennis courts, fitness and community clubhouse. The perfect spot to land in Naples.

Full Tour: http://tours.napleskenny.com/708750

 

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North Naples Sought After Neighborhood – Under Contract!
$329,900

This is the one you have been waiting for! Lowest priced home in Willoughby Acres right now and it does not disappoint. Ready for a quick move in. No HOA fees. Open floor plan 3 bedroom 2 bath with upgraded kitchen, bathrooms, and tile throughout. Granite, stainless steel appliances, and led lighting inside and out. Whole home stereo system with bluetooth receiver. With a newer roof and A/C the home is move in ready. Perfect southern exposure. Beautifully landscaped fenced in back yard with plenty of room for a pool. Automatic sprinkler system that runs on it’s own well to save money. Laundry room in house with extra storage. Trailer parking inside of fence with lockable gate on one side of house and two nice storage sheds on the other. Remaining furniture negotiable. Home on city water and septic which has had no issues.

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Naples Park Income Property
$254,900

Terrific opportunity for an income producing duplex with long rental history. Newer roof, a/c wall units, paint, and other renovations. Lowest priced property of its type, that is ready to keep renting out and making money. Duplex is 800 sq/ft total with each 1 bedroom 1 bathroom unit at 400 sq/ft. The place has a cute old Florida charm to it. Located on a full 50×135 lot in a terrific part of Naples Park. Newer homes across the street and two doors down with an empty lot next door and behind. Being sold as is with right to inspect. Please do not disturb tenants, call for appointment.

Modern Luxury in Olde Naples
$5,225,000

The perfect combination of MHK’s outstanding design with true attention to detail. A unique home with many amenities to satisfy the most discriminating buyer. The property overlooks the newly renovated Naples Beach Club Golf Course and stands less than two blocks from the beach.  The backyard is a quiet oasis of calm, with automated shutters and screens to capture the perfect outdoor retreat at the end of the day.  A fully equipped summer kitchen, expansive outdoor living areas and lush, mature plantings offer complete privacy.  French oak floors welcome you into the home and continue throughout.  The well thought out floor plan allows for maximum flexibility with upstairs and downstairs master suites, multiple seating areas, dual laundry rooms with every detail in this exquisite home carefully executed.  The kitchen is a chef’s dream with two islands, induction cooktops, double wine storage coolers, oven and steam oven. The home’s infrastructure includes two stand alone instant hot water systems, video security and all the benefits of a recently constructed premium home. A rare opportunity for near beach living in a magnificent setting.

Full Tour: http://tours.napleskenny.com/666238

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Centrally Located
$389,900

The lowest price pool home in Autumn Woods! Enjoy breath-taking long lake views from your corner lot screened-in lanai. Live the Naples lifestyle in this centrally located villa. Featuring tile floors, high ceilings, a large kitchen, lake views from the master, and a large soaking tub in the ensuite master-bath, this villa has it all. Original owner has kept it in great shape, come see your next home today.

Full tour: http://tours.napleskenny.com/699786

 

Upgraded in Marbella Lakes – Under Contract!
$529,000

The nicest home for sale in Marbella Lakes. This is the one you have been waiting for! Rarely available. Three bedrooms plus a den, three car garage, and a pool with spa and southern exposure all on one level. Home literally has too many upgrades to list. Come see it today before it is gone. Drive into Marbella Lakes, a low HOA, well located gated community, with on site manager, social director, tennis, indoor basketball, gym, and community pool with spa. Pull into your paver driveway and up into your three car garage. Walk into the upgraded tile home with vaulted ceilings, plantation shutters, crown molding, and so much more. Drop your stuff on the granite countertops of your upgraded kitchen including stainless appliances and look out over your salt water pool with both solar and electric heat and blue tooth remote control and new pump. Better than new condition with all of the upgrades. This is Florida living at its best.

Full Tour:http://tours.napleskenny.com/685711

 

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Country living in the City!
$778,000

Wonderfully updated family home with 5 bedrooms plus a den, 3 baths, pool and a barn on over 2 acres of land. Interior recently updated by Abbie Joan Fine Living to the highest degree of detail and quality. Stone floors invite you into the warm and spacious interior. Master bath features an indoor and outdoor shower. The kitchen has all new appliances and double ovens. Recent updates include new air conditioning, new baths, new flooring, freshly painted inside and out, pool renovated with new equipment and fencing, new fans and lighting and a whole house reverse osmosis system. Everything has been done, all you need to do is move in and enjoy this exceptional home.

More photos here: http://tours.napleskenny.com/680059

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Close to the Beach!
$239,900

Lovely 2 bedroom/2 bathroom condo that lives like a single family home with updates galore and close to the beach. Updates in the last couple of years include, new master bath, new kitchen cabinets and appliances, built in desk and bookcase, new tile and glassed in lanai. Also roof, air conditioning and hot water heater are new. Wonderful value in a gated community whose amenities include two pools, tennis courts and fiber optic cable. Enjoy the Naples lifestyle!

Full Tour: http://tours.napleskenny.com/661661

Updated in Windstar!
$620,000

Incredible volume ceilings add light and height to this lovely home which is unique in this neighborhood. Previous owner followed the roofline to elevate the ceilings and also made numerous upgrades such as crown moldings and 8’solid wood doors. Other updates include new kitchen that opens onto pool and lanai. New roof and air conditioning as well as additional spot lighting. Windstar is a gated golfing community on Naples Bay. Membership is not required, but amenities include Tom Fazio golf course, tennis and fitness programs and fine dining overlooking Naples Bay. There is also a shuttle boat to Keywadin island, 7 miles of unspoiled beach. Make Windstar your home for the best of everything Naples has to offer.

Full Tour: http://tours.napleskenny.com/66659

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Golfer’s Dream
$195,000

With expansive top floor views, this two bedroom, two bathroom, single owner condo is a golfer’s dream. Take advantage of Cedar Hammocks fantastic amenities all day and retreat to your luxurious condo overlooking lakes and the course at night. Priced to sell, this is an incredible value at just $195,000. Minutes from downtown and the beaches.

Full Tour: http://tours.napleskenny.com/661307

New Construction in Bayshore Arts District
$369,000

Presenting the Bahama Cottage. New construction, single family home, for an incredible value. A fantastic opportunity to get into The Island Cottages in a Naples Bay Village before the prices go up for the next phase. This second Island Cottage has moved from the pre-construction phase to under construction. Some details and finishes are still fully customizable. First floor master, open floor plan, classic front porch, private outdoor screened lanai in the back, this home has it all and does it with an island cottage charm that is sure to capture your heart. Oversized lot has ample room for a garage, pool, guest house, boat storage, or just enjoy the beautiful landscaping and open feel. This is a new walkable community in the heart of the Bayshore Arts District. Walk to the Botanical Gardens, 360 Market, Sugden park, the bayside waterfront park and boat launch, and so much more! This is a major infill development going in on Jeepers with a sale already pending and more phases to be released soon. Call today for more information on other opportunities. Come get the Bahama Cottage before it is gone!

Read more about the Island Cottages in a Naples Bay Village here.

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New Construction, No HOA
$317,000

Another new construction Cozy Cottage fresh on the market! The last Gebelhoff Group home sold so fast we had to list another one. Close your eyes and imagine the quintessential Florida cottage. Now open them because this is it, and you are home. This beautiful 3 bedroom, 2 bathroom builder model has too many upgrades to list. Open floor plan, granite, stainless steel, beautiful bathrooms, tile, porches, and two car garage, need we say more? Unique street allows for, but does not require, business and residential mixed use in same home. Perfect for a small business owner that wants to work out of their home, or anyone just looking for a great house. It could also make for a nice rental or a lease back to the builder may be possible so they can continue to use it as a model. So many options!

Full Tour: http://tours.napleskenny.com/public/vtour/display/607440

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February Update: Island Cottages in a Naples Bay Village

We had a tremendous response to our first blog post introducing our readers to the Island Cottages in a Naples Bay Village. It’s time for an update!

The first Island Cottage to be built, the Key West House, has officially closed. That means a new family is in the house and boy are they enjoying it! Remember, it’s an easy walk or bike ride to the Botanical Gardens, 360 Market, Sugden Park, three marinas, the Bayside waterfront park and boat launch, and so much more. With the wonderful February weather we have in Naples, it’s great to live in such a walkable community as the Bayshore Arts District. 

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Key West Cottage has closed! New owners are enjoying  all that the Bayshore Arts District has to offer.

The Bahama cottage is up next and making fantastic progress as it goes through each phase of building.  Here are some of the latest pictures:

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As you can see, the porch is being started, the block is up and its starting to look more and more like our artist rendering! The Bahama Cottage is expected to be done in June.

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The Bahama Cottage is for sale. Please contact David Goebel at 239-285-2038 or goebeld@gmail.com for more information about this particular home or any of the Island Cottages in a Naples Bay Village.

There is more in the works too! With at least two more new starts expected this year call us today before prices go up.

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How’s The Naples Real Estate Market? Prices Flat, Inventory OK, But Luxury Homes Are Slowing

One year ago the median Naples property sold for $324,750.  This month we are at $325,000 for a very modest .08%+ year over year price increase.  Natural demand, high season, the #1 US environmental rating and solid US Equity markets all combined to drive buyers to buy in the Florida sunshine.

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This stunning home is close to downtown, and the beach, and it overlooks a golf course!

 

At the heart of property price behavior in any real estate market is supply and demand coupled with inventory levels. The Naples market inventory increased slightly to 10.09 months this period over 10.02 months last month, marking the seventh straight month of inventory increases.  This time last year supplies were much tighter at 8.65 months.  Inventories at today’s level are still supportive of price increases but support varies neighborhood by neighborhood.

Let’s look at price reductions.  Although buyers pay about 4% less than asking price for a listed property right now, the sellers had to work very hard to get there.  Sellers reduced prices from their original position a whopping 17.93% from the original price so as you can see sellers are working a lot harder to get those home sold.

There is  also a large inventory  of luxury properties right now – both in Naples and on Marco Island.  Naples luxury properties (defined as properties listed above $2,000,000) have an inventory level of 24.42 months.  As we predicted over the last two months this inventory level is reducing luxury home prices – 7.96% YOY at the time of this writing.

We are so pleased to report Coldwell Banker captured the largest market share of luxury property sales in the State of Florida for the year ending 2016.  We are number one!  Please contact us to see how we do it.

Another data point to watch – property selling speed.  Price concessions from the sellers are running in concert with tough selling conditions. Now it takes 53 days to sell a Naples property (on average) compared to 50 days last month.  We do not like to see selling speed slow downs in the peak of season.

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Average condo prices rose this month to $270,000.

What about the condo market, what are we seeing there? Average condo prices rose this month to $270,000 from $262,500 or 2.86% – nice! Inventories in the condo market are good at 10.31 months and now holding steady.  Readers will remember condo prices ran along flat these last few months – so finally the number played out and condo prices are back on the mend.

We all know real estate is local, so what is happening in different neighborhoods? Oh good, more data!

Olde Naples – “I made up my mind to move to Naples as soon as I stepped out on that beach.”

Our first neighborhood stop is Olde Naples. Who doesn’t like Olde Naples? The “urbans” love to walk everywhere – beach, shops, restaurants with no car or even scooter. But … is real estate selling at these prices? Well, things slipped this month.  Inventories dropped to 13.33 months unfortunately and are now at a level no longer supportive of current prices.

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5th Avenue downtown is busy!

Pelican Bay – “I love the tram to the beach and eating at the beach club!”

Pelican Bay is rolling again.  Inventories tighten to 12.72 months from 15.68 last month and 16 months before that – we now expect support for current prices here. This is a great place to live with many amenities and an awesome beach lunch club.  Take a look – there are some great values here.

Windstar On Naples Bay – “A one of kind community with a yacht club, a golf course and a private shuttle to Keewaydin Island  – all on Naples Bay”

This community is the big winner again this month. Inventories dropped to 7.2 months last month dropping form 10 months the prior month and 18 months before that – the market is very supportive of price increases here.

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The beautiful sunset over Naples Bay.

Crayton Road – “The charm of this near north side neighborhood away from the maddening crowd is truly wonderful”

Crayton Road area inventory improved to 14.74 months from  stayed at 16 months – still unsupportive of current prices but improving.  Perhaps next month we get to equilibrium – we will see!

Royal Harbor – “On water living and walkable to town and new development on the way”

The Royal Harbor inventory improved to 10.33 months dropping from 12 months and is now supportive of price increases again. The area holds so much future promise with the rise of the “Urbans” and a walkable culture coupled with new commercial developments in the area.  If you are in town you can see the “Trio” development coming out of the ground at US 41 and Davis. On water, single family homes, convenience to 5th avenue, a spa within walking distance and an ever-increasing Naples “downtown” footprint – there is a lot to like in this area.

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On water living is a boater’s dream.

Port Royal and Aqualane Shores – “one of the finest enclaves anywhere”

Port Royal and Aqualane Shores inventories improved to 21 months but the market is telling us prices must drop here.  We will see if the buyers can out pace the sellers next month.

Marco Island – “island life and the beach at Tiger Tail offer a remarkable experience”

Marco Island inventories remained at 14+ months – same as last month and the month before that.  For all my dear friends and realtors on Marco who bust my chops on these numbers, take heart! – the Island is a great place to live. Houses and condos may be less pricey here compared to Naples and include incredible boating, golf, tennis and beach lifestyles. Check it out with us – there is a lot to love about Marco Island but expect some price pull backs here.

What we continue to find interesting on Marco Island is the struggling luxury single family home market – defined as properties above $2,000,000. Many of these properties offer incredible bay views. Inventories are now up to a whopping 53 months!  Only 7 sales in the last 120 days and 93 properties on the market something has to give. If you like the Island and you are looking for a great place, prices should continue to drop here. The market is adjusting but you could find some real deals here with us.

And the story on new construction?  The big market dynamic of new construction continues and perhaps we are now overbuilt slightly.  It is tough to capture real data from the developers but the scuttlebutt is “we are a little far out over our skis” meaning overbuilt. There are an estimated 18 new communities in Collier County at a variety of price points with some fantastic floor plans. Developers offer some nice incentives  to encourage sales. If you are considering new construction right now, this is a good time to be looking.

So our market is off to a very modest start this year.  Over all supply is short enough to support prices but it is not the real estate season of the last two years.  We need to keep an eye on inventory levels and hope buyers accelerate their activity through season.

Please give us a call if you are considering buying or selling in Naples. We would love to talk with you!

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Our Favorite Listings

February weather in Naples has been absolutely perfect.  That is why our favorite listings this month feature the great outdoor space that they all offer.  When the weather is this good, its the perfect time to cook in your outdoor kitchen, swim in your resort style pool, enjoy the view, read a book out on the lanai, or walk to the beach.  Take a look at our favorite listings this month and let us know when we can schedule your tour.

Modern Luxury in Olde Naples
$5,225,000

The perfect combination of MHK’s outstanding design with true attention to detail. A unique home with many amenities to satisfy the most discriminating buyer. The property overlooks the newly renovated Naples Beach Club Golf Course and stands less than two blocks from the beach.  The backyard is a quiet oasis of calm, with automated shutters and screens to capture the perfect outdoor retreat at the end of the day.  A fully equipped summer kitchen, expansive outdoor living areas and lush, mature plantings offer complete privacy.  French oak floors welcome you into the home and continue throughout.  The well thought out floor plan allows for maximum flexibility with upstairs and downstairs master suites, multiple seating areas, dual laundry rooms with every detail in this exquisite home carefully executed.  The kitchen is a chef’s dream with two islands, induction cooktops, double wine storage coolers, oven and steam oven. The home’s infrastructure includes two stand alone instant hot water systems, video security and all the benefits of a recently constructed premium home. A rare opportunity for near beach living in a magnificent setting.

Full Tour: http://tours.napleskenny.com/666238

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Centrally Located
$389,900

The lowest price pool home in Autumn Woods! Enjoy breath-taking long lake views from your corner lot screened-in lanai. Live the Naples lifestyle in this centrally located villa. Featuring tile floors, high ceilings, a large kitchen, lake views from the master, and a large soaking tub in the ensuite master-bath, this villa has it all. Original owner has kept it in great shape, come see your next home today.

Full tour: http://tours.napleskenny.com/699786

Upgraded in Marbella Lakes
$579,000

The nicest home for sale in Marbella Lakes. This is the one you have been waiting for! Rarely available. Three bedrooms plus a den, three car garage, and a pool with spa and southern exposure all on one level. Home literally has too many upgrades to list. Come see it today before it is gone. Drive into Marbella Lakes, a low HOA, well located gated community, with on site manager, social director, tennis, indoor basketball, gym, and community pool with spa. Pull into your paver driveway and up into your three car garage. Walk into the upgraded tile home with vaulted ceilings, plantation shutters, crown molding, and so much more. Drop your stuff on the granite countertops of your upgraded kitchen including stainless appliances and look out over your salt water pool with both solar and electric heat and blue tooth remote control and new pump. Better than new condition with all of the upgrades. This is Florida living at its best.

Full Tour:http://tours.napleskenny.com/685711

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Country living in the City!
$798,000

Wonderfully updated family home with 5 bedrooms plus a den, 3 baths, pool and a barn on over 2 acres of land. Interior recently updated by Abbie Joan Fine Living to the highest degree of detail and quality. Stone floors invite you into the warm and spacious interior. Master bath features an indoor and outdoor shower. The kitchen has all new appliances and double ovens. Recent updates include new air conditioning, new baths, new flooring, freshly painted inside and out, pool renovated with new equipment and fencing, new fans and lighting and a whole house reverse osmosis system. Everything has been done, all you need to do is move in and enjoy this exceptional home.

More photos here: http://tours.napleskenny.com/680059

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Close to the Beach!
$265,000

Lovely 2 bedroom/2 bathroom condo that lives like a single family home with updates galore and close to the beach. Updates in the last couple of years include, new master bath, new kitchen cabinets and appliances, built in desk and bookcase, new tile and glassed in lanai. Also roof, air conditioning and hot water heater are new. Wonderful value in a gated community whose amenities include two pools, tennis courts and fiber optic cable. Enjoy the Naples lifestyle!

Full Tour: http://tours.napleskenny.com/661661

Updated in Windstar!
$620,000

Incredible volume ceilings add light and height to this lovely home which is unique in this neighborhood. Previous owner followed the roofline to elevate the ceilings and also made numerous upgrades such as crown moldings and 8’solid wood doors. Other updates include new kitchen that opens onto pool and lanai. New roof and air conditioning as well as additional spot lighting. Windstar is a gated golfing community on Naples Bay. Membership is not required, but amenities include Tom Fazio golf course, tennis and fitness programs and fine dining overlooking Naples Bay. There is also a shuttle boat to Keywadin island, 7 miles of unspoiled beach. Make Windstar your home for the best of everything Naples has to offer.

Full Tour: http://tours.napleskenny.com/66659

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Golfer’s Dream
$195,000

With expansive top floor views, this two bedroom, two bathroom, single owner condo is a golfer’s dream. Take advantage of Cedar Hammocks fantastic amenities all day and retreat to your luxurious condo overlooking lakes and the course at night. Priced to sell, this is an incredible value at just $195,000. Minutes from downtown and the beaches.

Full Tour: http://tours.napleskenny.com/661307

New Construction in Bayshore Arts District
$369,000

Presenting the Bahama Cottage. New construction, single family home, for an incredible value. A fantastic opportunity to get into The Island Cottages in a Naples Bay Village before the prices go up for the next phase. This second Island Cottage has moved from the pre-construction phase to under construction. Some details and finishes are still fully customizable. First floor master, open floor plan, classic front porch, private outdoor screened lanai in the back, this home has it all and does it with an island cottage charm that is sure to capture your heart. Oversized lot has ample room for a garage, pool, guest house, boat storage, or just enjoy the beautiful landscaping and open feel. This is a new walkable community in the heart of the Bayshore Arts District. Walk to the Botanical Gardens, 360 Market, Sugden park, the bayside waterfront park and boat launch, and so much more! This is a major infill development going in on Jeepers with a sale already pending and more phases to be released soon. Call today for more information on other opportunities. Come get the Bahama Cottage before it is gone!

Read more about the Island Cottages in a Naples Bay Village here.

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New Construction, No HOA
Just Reduced
$317,000

Another new construction Cozy Cottage fresh on the market! The last Gebelhoff Group home sold so fast we had to list another one. Close your eyes and imagine the quintessential Florida cottage. Now open them because this is it, and you are home. This beautiful 3 bedroom, 2 bathroom builder model has too many upgrades to list. Open floor plan, granite, stainless steel, beautiful bathrooms, tile, porches, and two car garage, need we say more? Unique street allows for, but does not require, business and residential mixed use in same home. Perfect for a small business owner that wants to work out of their home, or anyone just looking for a great house. It could also make for a nice rental or a lease back to the builder may be possible so they can continue to use it as a model. So many options!

Full Tour: http://tours.napleskenny.com/public/vtour/display/607440

Resort Pool – Under Contract!
$598,000

Imagine owning your own incredible lakefront estate home. Come home through your circular drive into the three car garage with plenty of room for all the toys. Walk through the upgraded kitchen with island and stainless appliances and go straight out back. Fire up the grill in your outdoor kitchen next to your own custom resort style pool overlooking Lake Berkshire through the two story pool cage. Later retreat to your master suite, start the in-suite fireplace and take in the views from your private balcony inside the pool cage. This is the good life! Located just 15 minutes from 5th avenue and the beaches this house is an incredible value. Literally too many features to list, 4 bedrooms, 5 bathrooms, 2 fire places, media room, workout room, 2 dens, and resort pool valued at 250,000 dollars built by the homes original owner a luxury pool builder in Naples. High end luxurious furniture is negotiable. This home has it all, it just needs you to come live in it and love it!

Full tour: http://tours.napleskenny.com/667659

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Naples Best Addresses Newsletter – February 2017

Did you miss our newsletter earlier this month?  Here’s your chance to catch up on the latest real estate and lifestyle news from Naples, Florida.

Naples Real Estate News

February 2017

Season is busy in Naples!  Restaurants are full, new construction is booming, the weather is perfect, and we are enjoying every second of it.  We are trying new restaurants, getting to the beach and enjoying the outdoors.

Your online support is also greatly appreciated.  Share the newsletter with a friend and pass along our thoughts and ideas.  Thanks to you we now have over 14,000+ monthly followers.  We enjoy sharing our love of Naples and Naples real estate to the world. Yes, the world.  We have readers from as far away as Brazil, India, and Australia (Hi, folks!).

Here are some recent real estate market headlines selected for you by the Naples Best Addresses team.  Enjoy!

546 S Golf Drive Naples FL-print-020-23-Patio-4200x2805-300dpi.jpg

This home in Olde Naples offers indoor/outdoor living at its finest.

How’s the Naples Real Estate Market?  New Listings Outpace Sales – Prices Pull Back 4%

Natural demand, the beginning of tourist season, increased demand for single family homes and solid US Equity markets all combined to drive buyers to buy in the Florida sunshine but at a rate slower than new listings. Read more here.

Our Favorite Listings

Dreaming about paradise? We have a piece of paradise right here in Naples for you.  Check out all of our favorite listings this month.  We have it all from a big, beautiful home just a few blocks from the beach, condos for the avid golfers, new construction, on the water, etc.  Please let us know when we can schedule your tour. See pictures and read more about them here.

Naples Area Real Estate Inventory Outpaced Sales in 2016

The local real estate market performed well in 2016 despite several unpredictable market influencers that impacted the housing market.  now that the election is over and the stock market is up we anticipate a strong season in beautiful sunny Naples. Brokers agree that factors appear to be in place for a good market in 2017. Read more here.

A New Year Discovery: Naples Beach Hotel & Golf Club

The redesign of this historical golf course close to downtown is finished and it is gorgeous. Read more about the new course here. We have a stunning listing that has beautiful views of this gorgeous, newly redesigned golf course.  See pictures here: https://www.youtube.com/watch?v=dsSr1lP6hC0

The Island Cottages in a Naples Bay Village

There is a certain feeling you get when you come to a beach town.  The warm sunshine welcoming you to every day, friendly neighbors relaxing on their front porches, the smell of salt air and the sense of relaxation that overtakes the body.  This is why people come to Naples and this is one of many reasons why they stay.  So many people, in fact, are staying in Naples that building has been on the rise the past couple of years.  We have some exciting new homes that fit perfectly into your Florida dream. Read more about the Island cottage here.

Thank you for your referrals and support of our team. Please let us know if we can be of help to you, friends or family.

Best Regards,

Nan Goebel: 239-595-3920, nangoebel@gmail.com

Mark Goebel: 239-595-3921, Mark.C.Goebel@gmail.com

David Goebel: 239-285-2038, GoebelD@gmail.com

Megan Goebel: 630-777-6110, NBAassistant@gmail.com

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