Marco Island & Naples Area Update NOVEMBER 2023

SERVING MARCO ISLAND, NAPLES, PORT OF THE ISLANDS & GOODLAND

WHAT'S INSIDE: NOVEMBER 2023 P.2 MARCO ISLAND MARKET STATS P.3 NAPLES AREA MARKET STATS P.4 SPOTLIGHT: FIDDLER'S CREEK P.5 WHAT'S HAPPENING MARCO & NAPLES!

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 SW Florida real estate market remains stable with prices holding firm and showing no signs of any significant downturn. This is largely due to a significant lack of supply with average months of supply still averaging 4-5 months. However, the average days on the market has increased steadily as a result of more choices for Buyers being added to the market.

While our Closed Sales average 60% in Cash, the rising interest rates have clearly had an impact on overall sales levels.

The Market for Marco Island and surrounding areas slowed considerably in the past two months resulting in an

MARCO ISLAND STATS

increase in Inventory levels and Days on Market as a result. 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 significantly. Sellers in the 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 Oct. 2023 compared to Oct. 2022

LAND

HOMES

CONDO

NEW LISTINGS

17

+70%

48

+33.00%

73

+78%

PENDING SALES

2

-33%

19

+90%

22

-12%

DAYS ON MARKET

91

-30%

99

+48%

106

+74%

LAND

INVENTORY

CONDO

$1,675,000 ▲ 18%

$555,000 ▼ -2%

9 ▲ 350%

24 ▲ 14%

25 ▲ 14%

11.1 ▼ -78%

6.1 ▲ 27%

7.5 ▲ 150%

MEDIAN SALES PRICE $600,000 ▼ -69% CLOSED SALES

HOME

OCTOBER CASH SALES VS FINANCING MARCO ISLAND 60% CASH

2 Marco Island Market Stats

EAGLE CREEK, ARTESIA, ISLES OF COLLIER TO LELY AREA

34113 Oct. 2023 compared to Oct. 2022

HOMES

LAND

CONDO

NEW LISTINGS

3

+100%

30

43%

51

50%

PENDING SALES

1

0%

14

-36%

27

4%

DAYS ON MARKET

38

-92%

43

-37%

52

24%

LAND MEDIAN SALES PRICE $350,000 ▼ -88%

HOMES

CONDO

$900,000 ▼ -4%

$460,000 ▲ +10%

CLOSED SALES

1

0%

18 ▲ +13%

28 ▲ +17%

INVENTORY

14

0%

3.7 ▲ +9%

3.6 ▲ +64%

72% CASH

OCTOBER CASH SALES VS FINANCING

FIDDLER'S CREEK, PORT OF ISLES, NAPLES RESERVE, REFLECTION LAKES TO VERONA WALK AREA 34114 Oct. 2023 compared to Oct. 2022 LAND

HOMES

CONDO

NEW LISTINGS

12

+20%

72

+31%

52

+86%

PENDING SALES

7

0%

29

+7%

24

0%

DAYS ON MARKET

88

-69%

76

+52%

80

+116%

LAND

SINGLE FAMILY

MEDIAN SALES PRICE $228,000 ▼ -63%

CONDO

$700,000 ▼ -17%

$485,000 ▲

+13% -55%

CLOSED SALES

5 ▲ +25%

31 ▲ +7%

15 ▼

INVENTORY

15 ▲ +39%

5.3 ▲ +71%

4.2 ▲ +50%

OCTOBER CASH SALES VS FINANCING 60% CASH Naples Area Market Stats 3

DISCOVER THE UNPARALLELED LIFESTYLE OF FIDDLER'S CREEK IN NAPLES, FLORIDA wind through lush landscapes, providing a perfect backdrop for outdoor activities. The community's commitment to preserving the environment is evident in its protected nature habitats, making Fiddler's Creek a haven for wildlife enthusiasts.

Water lovers will appreciate the boating opportunities, and the private beach club, which provides exclusive access to the serene beaches of the Gulf of Mexico, offers the perfect setting for sunset strolls or relaxing days in the sun.

Diverse Property Options: Fiddler's Creek stands as a testament to luxurious living in a picturesque paradise.

This exclusive community offers a lifestyle like no other, combining world-class amenities, breathtaking natural beauty, and a diverse range of property options. Whether you're seeking a serene retirement haven or an active family-friendly environment, Fiddler's Creek has it all.

Amenities that Define Luxury Living: At the heart of Fiddler's Creek lies the Club & Spa, a 54,000-square-foot masterpiece that embodies the pinnacle of upscale living. Residents can indulge in rejuvenating spa treatments, state-of-the-art fitness facilities, and resort-style swimming pools.

Tennis enthusiasts can perfect their game on the tennis courts, and golf aficionados can challenge themselves on the championship golf courses designed by the renowned 4 Spotlight: Fiddler's Creek

Arthur Hills.

For those seeking social connections, the Club & Spa regularly hosts events and social gatherings, fostering a sense of community among residents. The Creek Club, with its exquisite dining options, offers a culinary experience that rivals the finest restaurants in Naples.

Under construction now is The Golf Club at Fiddler’s Creek with 350 equity members.

With over 26,000 SF and featuring coastal contemporary architecture, the clubhouse will serve as the hub for social activity. Spacious indoor and outdoor dining areas and seating areas with fire pits, all overlooking the 18th green.

Nature and Recreation at Your Doorstep: Beyond the lavish amenities, Fiddler's Creek boasts an array of natural wonders. Residents can explore miles of scenic walking and biking trails that

Fiddler's Creek understands that every resident is unique, and as such, the community offers an array of property options to suit diverse preferences. From luxurious single-family homes to elegant condominiums, Fiddler's Creek provides a range of real estate opportunities, each designed with meticulous attention to detail and quality craftsmanship.

Whether you envision a waterfront residence with panoramic views or a cozy villa surrounded by lush greenery, Fiddler's Creek has the perfect home for you. The community's commitment to architectural excellence ensures that each property is not just a home but a statement of refined living.

Fiddler's Creek is 15 minutes to the beaches, shopping and restaurants of the famous 5th Avenue in Naples and even closer to beautiful Marco Island!

WHAT'S HAPPENING MARCO ISLAND & NAPLES Marco Island Christmas Island Style Events Fri., Nov. 24th – Santa’s Arrival Sat., Dec. 2nd – Annual Tree Lighting and Community Celebration Tues., Dec. 5th – Canine Pet Parade Sat., Dec. 9th – Annual Street Parade (San Marco Road from Balfour to Barfield) Fri., Dec. 15th – Holiday Movie in the Park Sat., Dec. 16th – Cookies & Milk with Santa Sat., Dec. 16th – Annual Boat Parade

For more info: (christmasislandstyle.com)

Marco Island Center for the Arts now also manages the theater next to Marco Island Brewery in Towne Center called Arts Center Theater.

On November 29 - December 10 The Complete Works of William Shakespeare An irreverent, fast-paced romp through the Bard’s plays, The Complete Works of William Shakespeare (abridged) was London’s longest-running comedy in London’s West End at the Criterion Theatre! One wild ride that will leave you breathless and helpless with laughter!

For more information on all of these and many more Arts events and shows visit

https://www.marcoislandart.org

For up-to-date live music, events and restaurant information on Marco Island...Download the convenient Marco Review app on your cell phone from the app store: If you haven't done this yet... it snows on the Third Street South, Naples! Traditional Christmas spirit will continue Thanksgiving week Nov. 21-25, 5-8pm with live musicians playing your favorite Christmas and traditional Christmas carolers roaming the avenues.

Snow is forecasted at 7pm nightly!

There is no better way to experience the heart of a culture than through its food. As part of the larger city-wide celebration, the Third Street South Winter Farmers Market will feature a focus on the culinary delights of many Hispanic and Latin cuisines. Nov. 18 - Apr. 27 on Saturdays 7:30 a.m. - 11:30 a.m.

The Seasonal events are here! Click for many more events and things to do on Marco Island and in the Naples area! Upcoming Events in Naples | Naples, Marco Island & Everglades

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 What's Happening Marco & Naples! 5