Hello from Naples!
In June Nicola and Jeff celebrated Riley’s High School graduation with a trip to NYC. The destination was Riley’s choice as Riley is a big theater buff so the main purpose of the trip was to see some Broadway shows. They saw Hadestown, Wicked, Chicago and Dear Evan Hansen. Wicked was their favorite and Dear Evan Hansen was a close second. During the day, they spent a lot of time walking around the city taking in the sights. They particularly enjoyed the new Little Island Park at Pier 55 and the High Line elevated park and walking trail. They also visited Chelsea Market, Grand Central Station, NY Public Library, 9-11 Museum and the American Museum of Natural History. A friend had given them some restaurant recommendations and the food was amazing! If you have the chance to visit Manhattan then you might want to try Zuma, TAO or Marea! As much fun as they had, after 4 days all were ready to return to clean, safe, less crowded, slower-paced Naples.
Speaking of safe, Naples was just ranked the Safest Place to Live in the United States by U.S. News and World Report. In the same survey, Naples ranked #2 in Best Place to Retire and #2 for Best Place to Live in Florida. We couldn’t agree more!
From Florida Weekly: Tourism is Rosy
THE FLORIDA TOURIST season surged the first quarter of 2022, encouraging state and local tourism industry officials and businesses to envision while keeping a careful eye on the caveats that could keep that from happening.
Numbers of visitors and other tourism metrics have taken great strides since the bottom fell out of tourism in the wake of the first coronavirus cases confirmed in Florida in March 2020. In some areas they are returning to or surpassing pre-pandemic numbers of 2019. But the challenges remain.
Domestic leisure travel visitors have been the dominant numbers in the recovery. International and business travelers, not so much. With the lifting of travel restrictions, those areas are climbing. Leisure and hospitality employment numbers, which also tanked during the COVID-19 pandemic, have sputtered in their struggle to recover, but continue to make gradual progress. In many cases, the jobs are there, but the people to fill them aren’t
“It’s a mixed bag,” said Tamara Pigott, executive director of the Lee County Visitor & Convention Bureau. She was referring to Lee County, but the phrase could also apply to tourism statewide and locally in other Southwest Florida counties such as Charlotte and Collier, as well as east coast counties like Palm Beach.
Season is traditionally known as January, February and March of a particular year, when the number of visitors flocking here from the cold is highest. While the visitor influx starts pre-January and continues post-March, the first quarter of the year is traditionally considered “high season,” and a good indicator of how tourism will fare in a particular year. And the numbers have been going up. Visit Florida stats estimate that 36 million total visitors came to the state in the first quarter of 2022, a 39.6% increase over the first quarter of 2021, and 1.4% higher than the pre-COVID first quarter of 2019.
At Southwest Florida International Airport in Fort Myers, 1.2 million passengers traveled through in April, according to the Lee County Port Authority. Year-to-date, passenger traffic is up 34% compared to last year. Passenger traffic dropped to a low of 5,978,414 in 2020 as compared to 10,225,180 in 2019, according to port authority stats. Passenger traffic more than recovered in 2021 to 10,322,434.
Florida did benefit during the pandemic because of the message that “Florida is open,” Ms. Pigott said. “Visit Florida pushed the message. The governor pushed the message. We pushed the message.”
As recovery in the tourism industry continues, the idea is not simply to return to the old “normal,” but to embrace the opportunity to look at the industry with a fresh perspective, more innovative marketing and reshaping a new normal that fits a new, post-pandemic reality. That reality includes keeping an eye on many factors that, like the onset of COVID-19, are out of tourism’s control. That is, inflation, soaring gas prices, the possibility of a recession, the possibility of a new COVID-19 variant popping up and taking over, and of course, hurricanes. The best laid travel plans are at the mercy of economics, disease, and mother nature.
Official June 2022 Climate Data at Naples Airport:
June 2021 |
YTD 2021 |
June 2022 |
YTD 2022 |
Normal YTD |
|
Rainfall in Inches |
9.92 |
14.18 |
7.82 |
17.22 |
17.65 |
Record High June Rainfall |
21.28 (2005) |
||||
Record Low June Rainfall |
0.91 (1980) |
||||
High June Temperature |
93 |
95 |
|||
Low June Temperature |
70 |
65 |
|||
Record High June Temperature |
98 (2019) |
||||
Record Low June Temperature |
61 (1955) |
Temperatures in June averaged about normal for the month. The normal average max temperature in June is 89.8 and we recorded 89.3. Rainfall was slightly above normal in June. Rainfall YTD is right on target.
Book Review: “Hotel Nantucket” by Elin Hilderbrand
I can’t believe this is the first Elin Hilderbrand book I have ever read. I absolutely loved this book and can’t wait to read her other novels. I visited Nantucket many times in my earlier years and she brought it all home to me once again.
A little Romance, a little Mystery, a little Family Drama! Her characters all pull on your heart strings and you feel as if you know them all. Some of them will disappoint you, some will make you laugh and some will teach you that love comes in all forms! I didn’t want the book to end, so I read the last few chapters slowly and paused to think many times. I enjoyed all the characters, including the ghost, which I wasn’t expecting. I don’t want to give anything away, but I will say I couldn’t put it down and the ending left me with a smile on my face. Great summer read!
Here are a few reviews from Amazon:
“I’m new to Elin Hilderbrand. Finished the Summer of 69 last week and couldn’t help but purchase The Hotel Nantucket a scant 48 hours later. Loved it from start to finish. Satisfying closure, intrepid characters that reflect so many aspects of humanity, and so artfully articulated, I feel like I’ve been transported to Nantucket. With great fondness I will put this book down and will likely be revisiting my new friends again and again for years to come”.
“I have always enjoyed Elin Hilderbrand’s Nantucket novels, but she has really outdone herself with The Hotel Nantucket. It’s combination of ghost story, broken heart romance, surprise twists, redemption, and so much more. This was a great read, almost impossible to put down. Check-in, put your feet up, and get comfortable.”
Restaurant Recommendation: Buzz’s Lighthouse Restaurant 9180 Gulfshore Dr. Naples
Nicola and a few of her girlfriends went here for dinner a few weeks ago. While she had dined here before, it had been several years since her last visit. Fortunately, nothing has changed and unlike most things in Naples, not much has changed here since this family-run spot opened 30 years ago! This is one of the very few restaurants in Naples where you can dine on the water and not spend a small fortune. The atmosphere is nautical and quirky. The menu features plenty of fresh seafood selections along with some chicken, steak and burger options. Nicola recommends Buzz’s Famous Grouper Ruben.
Here are a few recent reviews on Trip Advisor:
“Buzz’s has been here a long time and it’s a tribute to their very good food that they maintain the following that they have. This is a place to get simple but excellent seafood (especially grouper) without overpaying for quality. It’s an example of excellence without extravagance. If you’d like a memorable experience, choose the grouper Reuben sandwich. I haven’t found anything that resembles it in Naples, certainly not at this level of standard. Get there when they open; they don’t take reservations. And expect to walk away smiling and satiated!”
“Family owned, very casual overlooking Bayside and boats. Our server, Katie was amazing and delivered large portions with reasonable price. Not fancy but feels like home. Owner, Darren was very friendly including Jonas the bartender. It was our first time visiting and we would definitely go back again. Bravo!”
Naples Real Estate: Here are the June 2022 Naples/Bonita market statistics.
For the first six months of 2022, there were 8,731 closed sales in all of Naples and Bonita. This compares with 12,855 closed sales for the same period last year, a drop of 32%.
Here’s an interesting table comparing 2022 to last year:
Closed Sales |
Total |
Under $300,000 |
$300,000 to $700,000 |
$700,001 to $1,000,000 |
$1,000,001 to $3,000,000 |
Over $3,000,000 |
YTD June 2021 |
12,855 |
3,784 |
5,868 |
1,221 |
1,537 |
445 |
YTD June 2022 |
8,731 |
928 |
4,517 |
1,453 |
1,431 |
402 |
Difference |
-4,124 |
-2,856 |
-1,351 |
+232 |
-106 |
-43 |
% Change |
-32% |
-75% |
-23% |
+19% |
-7% |
-10% |
Every category we measure except one is behind last year for the first six months. The lower price categories declines are mainly due to a lack inventory to satisfy demand. The “Under $300,000” category down 75% is a prime example.
The inventory of available properties remains down from last year. As the following table shows, however, the level of inventory varies by price point:
Home Supply as of July 6th, 2022 |
Total |
Under $300,000 |
$300,000 to $700,000 |
$700,001 to $1,000,000 |
$1,000,001 to $3,000,000 |
Over $3,000,000 |
Number Sold Last 12 Months |
16,863 |
2,567 |
8,854 |
2,380 |
2,410 |
652 |
Average Number Sold Per Month |
1,405 |
214 |
738 |
198 |
201 |
54 |
Total Available for Sale |
2,682 |
166 |
1,099 |
521 |
599 |
297 |
Months of Supply July 6th, 2022 |
2 |
1 |
1 |
3 |
3 |
6 |
Inventory rose 16% last month to 2,682 homes. This is the fifth monthly increase in a row. Average monthly supply stayed at about 2 months. Supply levels in the highest priced category doubled from a low of 3 months to 6 months. Home inventory is still at a very low level. Most Realtors consider that a six-month supply of homes is neither a buyers’ nor sellers’ market, so this is still a sellers’ market. For comparison, the high point of available existing home inventory was June of 2007 when there were 11,601 listed in the MLS system for Naples and Bonita!
It will be interesting to see what role inflation and the Fed’s attempt to curtail it by raising interest rates will have on the market going forward. A significant percentage of homes purchased in Naples are cash deals, mitigating some of this factor.
Kensington Real Estate:
Kensington is the golf course community where Rae and Fred live. Golf and Social memberships are available at Kensington, although none is required to buy here. Golf memberships have sold well this year, and there is now a waiting list for membership. As of July 6, 2022, there are 2 active listings in Kensington. Here’s a look at the MLS market in Kensington as of July 6, 2022:
Type of Property |
Number |
Lowest Price |
Highest Price |
Average Price Per Sq. Ft. |
Avg. Days on Mkt. |
Estate Homes |
0 |
NA |
NA |
NA |
NA |
Villas |
1 |
$1,379,000 |
$1,379,000 |
$640 |
21 |
Coach Homes |
1 |
$699,000 |
$699,000 |
$340 |
26 |
Total |
2 |
There have been 41 closed sales in the past 12-month period. With average monthly sales at 3.41, this means there is less than one month of inventory at Kensington. As of July 6, 2022, there are 2 sales pending and no sales pending with contingencies at Kensington.
Riverstone Real Estate:
Riverstone is the community where Jeff and Nicola live. Riverstone has numerous amenities available for residents to enjoy. You can spend days swimming and relaxing at the community resort-style pool, playing tennis, taking a fitness class or socializing in the community’s private clubhouse. Here’s a look at the MLS market in Riverstone as of July 6, 2022:
Property |
Number for Sale |
Lowest Price |
Highest Price |
Avg. Asking Price Per Sq. Ft. |
Avg. Days on Market |
Riverstone |
12 |
$699,999 |
$1,799,000 |
$421 |
16 |
Here’s a breakdown of what’s currently on the market thru MLS:
|
|
$500,000 to $699,999 |
$700,000 to $899,999 |
$900,000 to $999,999 |
$1,000,000 to $1,499,000 |
$1,500,000 and Over |
Number for Sale |
1 |
2 |
1 |
4 |
4 |
Average Price Per Sq. Ft. |
$336 |
$384 |
$432 |
$419 |
$458 |
Average Days on Market |
9 |
15 |
3 |
27 |
6 |
Available inventory is 9 more than last month. As of July 6, there are 12 active listings, 4 pending sales and 2 pending sales with contingencies. The MLS system lists 61 homes sold in the last 12 months. With average monthly sales at 5.08, this means that there is just over two months of inventory at Riverstone.
Give us a call if we can help with any real estate questions you have at 239-398-0028 (Rae) or 239-451-9351 (Nicola).