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June Real Estate Market Shows Signs Of Balance...

Data reflecting activity in the Naples area housing market during June showed signs of a return to pre-pandemic summer activity when market conditions were balanced. According to the June 2022 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), pending sales decreased 36.8 percent in June to 794 pending sales from 1,236 pending sales in June 2021, and closed sales decreased 38.4 percent in June to 952 closed sales from 1,545 closed in June 2021. On the positive side, an 80.5 percent increase in inventory during June to 2,294 properties from 1,271 properties in June 2021 is expected to spark sales.

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Photo credit: Tim Aten

DEVELOPER INTENDS TO RESTART STALLED ONYX  TOWNHOME PROJECT IN EAST NAPLES The developer building a townhome community in East Naples intends to restart the residential project, which has been stalled since the early stages of the pandemic.  Onyx Townhome Villas masonry was completed for two of the eight two-story townhome buildings and the gated community’s clubhouse, but the majority of the 48-unit project has yet to be started on 8.7 acres on the corner of Santa Barbara Boulevard and Polly Avenue, about a half-mile north of Rattlesnake Hammock Road. The project stalled in 2020 when the developer was unable to travel here from South America because of travel restrictions during the pandemic, according to the owner’s representative, Claro Development Solutions, a Miami company that specializes in providing development services and construction management to owners and developers.