JEFF JONES Keller Williams Broker Jeff Jones is a graduate of Duke University. With several local attorneys, Broker Jeff is instrumental in writing and updating all the real estate contracts used in the Naples and Marco Island area. He is a past president and long-time board member of the Naples Area Board of Realtors. He has been a Florida Broker and Realtor since 2007.
The Southwest Florida real estate market remains stable with prices holding firm showing no signs of any significant downturn. This contrasts with inventory levels that have risen considerably over the past few months. Furthermore, the average days on the market has increased steadily because of many more choices for Buyers being added to the market. While locally our Closed Sales average 60% in Cash, the rising interest rates have clearly had an impact on overall sales levels. Recent developments at the end of November from the Federal Reserve offer optimism that Mortgage Rates will come down significantly in the near future. The local Market for Marco Island and surrounding areas has also slowed
MARCO ISLAND STATS LAND
considerably in the past three months resulting in an increase in Inventory Levels and Days on Market. New Listings, and Price Reductions have exceeded Closed and Pending sales and thus the rate of absorption of our residential home and condo inventories has slowed substantially. Sellers are encouraged to work closely with their Realtor® to ensure their home pricing is truly appropriate and effective for the current market conditions. Our Market is significantly neighborhood dependent and thus using a Realtor® familiar with local conditions is essential to listing or buying your Home with the best possible value and results!
34145 Nov. 2023 compared to Nov. 2022
HOMES
CONDO
NEW LISTINGS
15
-6%
67
+24%
77
+54%
PENDING SALES
3
+50%
19
+90%
33
+38%
DAYS ON MARKET
144
+58%
113
+43%
84
+3%
103
▼
INVENTORY
1 ▼ -89% 855%
$1,600,000 ▼ -15%
$670,000 ▼ -14%
17
21%
25 ▼
▼
CLOSED SALES
CONDO
23%
8.5
7.4
▼
MEDIAN SALES PRICE $270,000 ▼ -55%
HOMES
▼
LAND
-7% 143%
NOVEMBER CASH SALES VS FINANCING MARCO ISLAND 64% CASH
2 Marco Island Market Stats
EAGLE CREEK, ARTESIA, ISLES OF COLLIER TO LELY AREA
34113 Nov. 2023 compared to Nov. 2022
HOMES
LAND
CONDO
NEW LISTINGS
1
0%
37
+37%
61
+42%
PENDING SALES
1
0%
14
-36%
27
+4%
DAYS ON MARKET
38
-92%
61
0%
48
+20%
LAND
HOMES ▼
CONDO
MEDIAN SALES PRICE
$0
0%
$737,500
CLOSED SALES
0
0%
10
▼ -55%
30 ▼ -12%
INVENTORY
10
0%
4.5
▼
4.4
▼
29%
$514,950
▼
-3%
13%
69%
76% CASH
NOVEMBER CASH SALES VS FINANCING
FIDDLER'S CREEK, PORT OF ISLES, NAPLES RESERVE, REFLECTION LAKES TO VERONA WALK AREA 34114 Nov. 2023 compared to Nov. 2022 LAND
HOMES
CONDO
NEW LISTINGS
23
+15%
67
+52%
46
+10%
PENDING SALES
5
-17%
29
+7%
24
-25%
DAYS ON MARKET
206
+134%
54
+20%
83
+84%
LAND
SINGLE FAMILY
MEDIAN SALES PRICE $195,000 ▼ -63%
$755,000 ▼
CONDO
-3%
$512,503
▲
7% 4%
CLOSED SALES
3 ▼ -40%
20 ▼ -29%
25
▲
INVENTORY
26
5.8
4.7
▲ 57%
▼
91%
71%
▼
NOVEMBER CASH SALES VS FINANCING 52% CASH Naples Area Market Stats 3
WHAT'S HAPPENING MARCO ISLAND & NAPLES First Annual Rhinestone Rodeo Gala to benefit Our Daily Bread Food Pantry featuring the Back Country Boys Band.
January 7th -6-9 pm at Island Country Club
For tickets and more info:
Rhinestone Rodeo Gala RHINESTONE RODEO GALA
Marco Island Center for the Arts now also manages the theater next to Marco Island Brewery in Towne Center called Arts Center Theater.
On January 3 - January 21 Private Lives by Noe/ Coward
Revived in 2002 by the Royal National Theatre in a production that sparkled on Broadway, Private Lives is one of the most sophisticated, entertaining plays ever written.
Comedian Friday December 29- 7:30 pm. Earl David Reed has appeared on The Tonight Show and many tv shows. He has performed in over 100 comedy clubs and colleges. He is a favorite in Atlantic City and Las Vegas.
Marco Island
Arts Center Theatre
For more information on all of these and many more Arts events and
shows visit https://www.marcoislandart.org
Center for the Arts For up-to-date live music, events and restaurant information on Marco lsland...Download the convenient Marco Review app on your cell phone from the app store:
Nap/es Philharmonic Pops: An Evening with Megan Hilty Tony-nominated actress an
singer Megan Hilty brings her powerful voice, sparkling personality and dazzling energy to Hayes Hall as she joins Jack Everly and the Napless Philharmonic for a special programs of favorite songs from Broadway and beyond,
City of Nap/es New Year's Eve Fireworks! Dec. 31- 6 pm. Find a spot anywhere along Naples Beach for the annual New Year's Eve fireworks, blasting off from a barge beyond the Naples Pier. Most area boat sightseeing tours offer passage to watch the fireworks from the water vantage point. ;�f' ,-�\ '°".. � . '%>. ,•.,.�
1
Third Street South Naples Winter Farmers Market through April 27 on
Saturdays 7:30 a.m. - 11:30 a.m
ft,.
Year end and January events are here! Click for many more events and things to do on Marco Island and in the Naples areal
Last Minute Gift Ideas!
/.
Page 1 photo courtesy of Joey Waves. To purchase his beautiful photography, art and books or to schedule a personalized photography session visit www.JoeyWaves.com W hat's Hap pening Marco & Naples! 5 -