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Low Inventory & High Demand Continues to Push Home Prices Up in January

Naples, FL (February 25, 2022) – A 34.5 percent increase in new listings sparked 19,277 more showings during January compared to new listings and showings reported in December 2021. While an increase in new listings demonstrates a solid start for the real estate market this year, low inventory continues to harness the market’s potential. As a result of tight inventory, January sales activity could not meet the level of sales activity reported in January 2021. Historically, month to month sales activity during season ascends through April. But according to broker analysts reviewing the January 2022 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), a 74.9 percent decrease in inventory for January to 1,122 homes from 4,474 homes in January 2021 will not provide the same level of sales transactions that occurred last season.

     For the full report please contact me by e-mail...

     Michelle J. DeNomme, REALTOR, GRI 

    Cellular Phone I  239.404.7787

    E-Mail : Michelle@NaplesHomeSweetHome.com

    Berkshire Hathaway HomeServices Florida Realty

    Office: 239.659.2400

    Website:  www.NaplesHomeSweetHome.com        

    Blog Page:   http://michelledenomme.blogspot.com  

    Twitter: DeNommeRealtor

    Homesnap: http://www.homesnap.com/Michelle-DeNomme 

    Office Address: 621 Fifth Avenue South Naples, Florida 34102

Member Naples Board Of REALTORS 
Member Florida REALTORS 
Member National Association Of REALTORS 
Graduate REALTOR Institute (GRI)

Graduate (C2EX) NAR Commitment To Excellence

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Hot Off The Press...

Let's Talk! Home Sellers Capitalized on Surging  Buyer Demand in 2021  For the Full Report Contact Me Today! Michelle@NaplesHomeSweetHome.com  Naples, FL (January 27, 2022) – Demand for the Naples lifestyle eclipsed all expectations and helped to break several home-sales records in 2021. The year ended with a 25.8 percent increase in overall closed sales and a 20.3 percent increase in median closed price (year over year). Broker analysts reviewing the December and Year End 2021 Market Reports released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), agree that the Naples housing market is going through a transformation and the last 18 months of record sales activity will not be sustainable in 2022. They strongly urge that sellers and buyers work with a local REALTOR® to help them navigate transactions smoothly with the least obstacles.

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UPDATE: County Commissioners Approve Oil Well Rd. Project 

Collier County commissioners Tuesday unanimously approved spending $39 million for the first phase of the project to widen Oil Well Rd. between Immokalee Rd. and Camp Keais Rd.

The board approved awardiing the contract to Mitchell & Stark Construction Co., which was the low bidder for the project at $34,977,999.18. The project was budgeted at $40 million and the county manager is recommending that the commissioners approve a reserve of $4,207,000 for "funding allowances." Residents of the Waterways development at Immokalee Rd. and Oil Well Rd. raised objections to the widening, but commissioners decided that it was too late to change course.

Barron Collier Cos. Vice President Tom Sansbury said in an interview that crews could be starting work in February. Some independent work has already begun to prepare the area from which fill will be dug. That work will eventually result in the creation of a recreational lake.

The first phase of the project is expected to take about 18 months and will complete widening of two parts of Oil Well Rd. -- from two lanes to four lanes from Immokalee Rd. to Everglades Blvd. and from two lanes to six lanes from Oil Well Grade Rd. to just east of Ave Maria Blvd.

Collier County Commissioner Jim Coletta would like to see the middle piece done as quickly as possible, as well as a widening of Camp Keais Rd.

"It's my dream that in the next two or three years people will be able to drive from Naples to Immokalee on four or six-lane roads all the way."

That could be achieved, he said, if a settlement is reached between the state of Florida and  Indian tribes that will determine a contribution to local governments from casino revenues. Mr. Coletta said that such a settlement would enable completion of a number of public works projects in Eastern Collier County without any increase in taxes.

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GULFSHORE BUSINESS READERS WANT PORTILLO’S, WHITE CASTLE IN SOUTHWEST FLORIDA 

Gulfshore Business readers are craving Portillo’s and White Castle. When asked what chain restaurant they’d want to see come to Southwest Florida in the latest reader poll, voters showed their support for Portillo’s, the Chicago-based fast-casual restaurant specializing in hotdogs, Maxwell Street Polish and Italian Beef. It led the way with 14.4% of the vote. The nearest Portillo’s location is in the Tampa area. White Castle, the regional hamburger chain restaurant that opened its largest store in Orlando last year, followed closely with 13.5% in the open-ended poll. In-N-Out Burger, which primarily operates in California and the Southwest, took home 10.6% of the vote. Texas-based Whataburger (4%), South Korea-based Bonchon Chicken (3.3%), North Carolina-based Bojangles (3%), Texas-based Chuy’s Tex-Mex (2.6%), Louisiana-based Raising Cane’s Chicken Fingers (2.6%), Texas-based Maggiano’s Little Italy (1.9%) and California-based Jack in the Box (1.9%) rounded out the top 10.