The Gopher State pipeline we've talked about before in this space keeps paying off for Collier County and Southwest Florida.
April ushered in the official Naples arrival of Edina Realty, which touts itself as Minnesota's largest real estate operation that also serves western Wisconsin.
Here's what to know.
Snowbirds are target group for Edina Realty making its Naples, Florida debut
“A number of our agents who winter in Florida or spend significant time there asked for this expansion,” said Greg Mason, CEO of Edina Realty that dates to 1955 and has set up shop on Tamiami Trail near Old Trail Drive as its new Florida base. That's about 1,750 miles from its corporate headquarters in ― with apologies to rapper Tone Loc ― Funky Cold Edina and 75 or so other offices scattered across the frozen tundra.
Their main target: Snowbirds, who had been using their Land of 10,000 Lakes agency for sales there, and another firm for transactions here.
“Real estate is a local business, and many Edina Realty agents have lifelong relationships with clients who they help through repeat home buying and selling processes at various points through their lives,” Mason said. “As many of our Midwest clients move south, we’re excited to be able to continue serving them."
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What is the Minnesota connection to Southwest Florida?
In the Know has previously focused on how Minnesotans have been a top draw in local migration, with the Major League Twins and their spring training presence helping propel that movement and expanded flights to Southwest Florida International Airport. Heck, we've reported on their local influence in industries such as banking and restaurants, and on that state's richest man, Glen Taylor, attempting to negotiate a $1.5 billion deal with former MLBer Alex Rodriguez and others involving his NBA Minnesota Timberwolves at his Port Royal estate.
Stats that show a slowing Collier County housing market aren't expected to stop the flow.
"We expect the activity to grow,” said Mason, who now has about 20 folks on his 2,000-plus roster focused on the Sunshine State.
The potential is just too great.
How is Collier County's ranking in wealth generation?
For example, new findings uncovered this month by financial technology company SmartAsset show Collier has experienced Florida's second most wealth generation over the past 10 years. Only the Panhandle's up and coming Walton County was ahead of Collier in the study that examined home values, investment returns, income growth and other data. Lee County was 12th.
And the market does continue to set new records.
Record real estate sales volume for Naples, Florida company
Marking 65 years, Naples-based John R. Wood Christie's International Real Estate said it had a record 2023 sales volume of $4.5 billion in Collier and Lee counties, more than a billion ahead of any other similar group around here, It added 109 new real estate professionals during that time for a total of more than 850 agents in 23 offices.
The organization’s top transaction was a Port Royal spread that closed for $46.8 million, Collier's priciest for the year, and the highest non-beachfront residential sale in the county's history, according to listing records.
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What Collier County, Florida area just set a new housing record?
While multi-million purchases of Gordon Drive area mansions have become seemingly routine, the big prices are also hitting other places now, too.
A recently completed $3.15 million buy in the Bayshore Arts District represents a new record there and for the Gulf Shores community, according to Premier Sotheby’s International Realty's Erik David Barber.
“There is a massive shortage of quality new construction on navigable water and an insatiable demand," said Barber, after brokering the new Naples Custom Homes 3,100-square-foot creation. "This will be the first of some upcoming opportunities within the Bayshore area.”
Based at the Naples Daily News, Columnist Phil Fernandez (pfernandez@gannett.com) grew up in Southwest Florida and has led Pulitzer Prize-winning efforts. He writes In the Know, one of USA TODAY Network's most read local news columns in the state. Support democracy. Subscribe to a newspaper.
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