The 239 Weekly: August 28-September 3, 2026
Hi, it's Jeremy. This week offered several reminders that seemingly small developments can carry lasting consequences. Marco Island's $23 million bridge bond passed by a single vote, while a beachfront Naples condominium became the first in the city to install a hurricane flood barrier since Ian. The latest housing numbers also reveal a market moving at different speeds: Naples posted stronger sales and declining inventory, while Bonita Springs and Estero remained comparatively measured. Meanwhile, a proposed change to Florida's homestead exemption deserves closer attention from anyone considering when to establish Florida residency.
⚡ The 239 in 60 Seconds
🗳️ A Naples beachfront condominium, The Allegro, became the first in the city to install the Aquafence flood barrier system, the same technology that protected Tampa General Hospital during Hurricane Helene.
💡 Marco Island's $23 million bridge replacement bond survived a recount by exactly one vote, 2,259 to 2,258.
💰 The 30-year mortgage rate sits at 6.66% this week, roughly flat from a week ago. [Source: Freddie Mac PMMS]
🎓 Collier schools began the year with two new buildings: Ave Maria Elementary, the district's 33rd elementary school, and a new $8 million middle school campus at Royal Palm Academy in North Naples.
💡 Naples-area home sales rose 14.5% in July as inventory continued to decline, while pricing in Bonita Springs and Estero remained comparatively steady. The market is distinguishing between locations, property types, and condition more clearly as we approach fall. [Source: see The 239 Market below]
New Around the 239
👔 Barneys New York returns, plans first relaunch store at Bayfront Naples → [Source: Gulfshore Business]
🛒 Rebuilt Publix at Neapolitan Way reopens with a bigger footprint → [Source: Gulfshore Business]
☀️ Luxury spray-tan studio opens first U.S. location in North Naples → [Source: Florida Weekly]
The 239 Market
Biggest sales this week:
🏥 Naples senior living community The Carlisle sells for $148.75M as part of a $455M, five-property portfolio deal → Irvine, California-based Healthpeak Properties bought the 350-unit community (257 independent living, 93 assisted living units) on 18 acres near Orange Blossom Drive and Airport-Pulling Road from Harbert and Senior Resource Group, which had paid $101.5M for it in 2021. [Source: Business Observer]
Market snapshot:
Naples showed firmer momentum in July, with more closings, modest price growth, and materially less inventory. Bonita Springs and Estero remained more measured, reinforcing that Southwest Florida is not operating as one uniform market.
Collier (Naples): 733 closed sales in July, up 14.5% year-over-year; median closed price $590,000 (+2.6%); inventory down 21% to just 5.8 months of supply. Source: NABOR
Lee (Estero): median sale price around $510,000, up 1.6% year-over-year on a rolling three-month basis. Source: Redfin
Also worth a caveat: Redfin's separate "Naples" city-level figure shows a much higher $1.3 million median, down 10.4% year-over-year. Source: Redfin That figure reflects a different geographic boundary and property mix than NABOR's broader MLS data, so the two should not be compared directly.
Homestead exemptions could look very different beginning in 2027 if voters approve Florida's Amendment 3 this November. For those considering Florida residency, both the proposal and the timing requirements deserve careful consideration. Full breakdown in This Week below.
Jeremy's Take: Naples entered the second half of the year with stronger sales and considerably less inventory, but only modest price appreciation. That combination suggests a market that is tightening without becoming indiscriminate. Well-positioned properties can benefit from reduced competition, but buyers are still distinguishing between updated and dated homes, strong and compromised locations, and realistic versus aspirational pricing. For sellers, the implication is that lower inventory helps, but it does not replace pricing discipline. For buyers, waiting for broad market weakness may be less productive than identifying the individual properties where condition, motivation, or time on market creates negotiating room. Bonita Springs and Estero remain more measured by comparison, and that divergence is worth watching as seasonal activity returns.
30-year mortgage rate: 6.66%, roughly flat from 6.65% the week before. Source: Freddie Mac PMMS
Curious What’s Selling Near You?
See What's Happening in Your Neighborhood:
This Week in Naples & Bonita Springs
🔗 Naples condo becomes first in the city to install a hurricane flood barrier since Ian → The Allegro Condominium, a beachfront building that took on 38 inches of water and needed a $15 million renovation after Ian, installed the Aquafence flood barrier system, deployable within a day and tested to withstand 140 mph winds. It's the same system that protected Tampa General Hospital during Hurricane Helene.
🔗 Marco Island's $23M bridge bond survives a recount by one vote → The final tally: 2,259 to 2,258, clearing the way for bridge replacement work to proceed.
🔗 Naples voters keep City Council pay fixed by charter language → [Source: Gulfshore Business] A referendum that would have let a committee recommend council salary adjustments was rejected by voters.
🔗 Lee County advances a 4% employee pay raise for 2027 as revenues tighten → [Source: Gulfshore Business] Commissioners struck the compromise as they brace for slower property tax growth.
🔗 Naples issues $29M in bonds to keep its $86.2M beach outfall project moving → [Source: Gulfshore Business] The city's largest-ever infrastructure project aims to improve beach water quality.
🔗 Collier commissioners approve $380K/year in overseas tourism contracts as European visits rebound → [Source: Gulfshore Business] It's the first year-over-year increase in overseas visitation since January 2025.
🔗 Collier schools open new Ave Maria Elementary and a new Royal Palm Academy middle school → [Source: Florida Weekly] Ave Maria Elementary is the district's 33rd elementary school; Royal Palm Academy's new building caps an $8 million campaign.
🔗 Amendment 3's ballot summary just got sent back for a rewrite. A Leon County judge ruled the state's ballot title and summary language for the November property tax measure was misleading and ordered it rewritten ahead of the Nov. 3 vote.
Florida's Amendment 3: What It Means for Your Move to the 239If you are considering making Florida your primary residence before year-end, Amendment 3 deserves attention well before the November vote. Officially titled "Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments," the proposal will appear on the November 3, 2026 statewide ballot. It is not yet law. It requires 60% voter approval to pass.
If approved, the amendment would increase Florida's non-school homestead exemption from the current $50,000 to $150,000 beginning January 1, 2027, and then to $250,000 beginning January 1, 2028. Both amounts would be indexed to inflation starting in 2029. The current exemption is already $51,411 when the CPI-adjusted portion is included, so the practical increase is somewhat smaller than the headline figures imply.
What deserves closer attention is the limitation: the expanded exemption would apply only to non-school property-tax levies. School taxes, often the largest individual component of a Collier or Lee County tax bill, would remain unaffected and continue to be assessed on full market value. For buyers evaluating a residency change, the amendment could improve the long-term carrying-cost calculation, but it should not be interpreted as eliminating or dramatically reducing the overall property-tax obligation….Continue Reading
📍 239 Community Spotlight
This week we're highlighting Pelican Bay in North Naples. Its appeal is rooted in a combination that is difficult to replicate: private resident beach access, substantial community amenities, a central coastal location, and a broad range of residential options. An internal tram system provides access through the preserved mangroves to the Gulf and two resident beachfront restaurants, the Sandbar Grille and Marker 36.
Pelican Bay includes high-rise and mid-rise condominiums as well as single-family homes, giving buyers meaningful choices in views, privacy, maintenance, and price point. Residents also have access to two 18-hole golf courses, tennis, fitness facilities, and an extensive network of boardwalks and trails through the Pelican Bay Community Foundation. Directly across from Waterside Shops and minutes from Artis-Naples, the community's long-term value is supported not only by its amenities, but by the scarcity of comparable Gulf-access communities in such a central Naples location.
Good to Know
🚧 I-75's interchange with Collier Boulevard remains under reconstruction through the end of 2026. A new southbound I-75 on-ramp is open, but the left turn from Collier Boulevard is no longer accessible, so stay right. Nighttime lane closures continue over Collier Boulevard. Source: SWFL Roads / FDOT
🚧 I-75 at Pine Ridge Road (Exit 107) is converting to a diverging diamond interchange, with nighttime lane closures (7pm-7am) and ramp closures (8pm-6am) continuing as needed into 2027. Source: SWFL Roads / FDOT
🎒 SR 93/I-75 near Bonita Beach Road is getting nighttime milling and resurfacing work Sunday through Thursday, 8pm-6am. Source: SWFL Roads / FDOT, Lee County
🔧 Home Tip of the Week
We're still in the thick of hurricane season, so this week's tip covers the prep most homeowners forget until a storm is already in the forecast.
Know your official evacuation zone (not just your gut sense of it) by checking Collier's or Lee's zone lookup tool now, before it's a scramble.
Stock a few days of pet food, water, and any medications your animals need alongside your own go-bag; shelters and hotels often require proof of vaccination too.
Photograph and waterproof your key documents (deed, insurance policy, ID) in a sealed bag or a cloud folder, so a soggy filing cabinet isn't your only copy.
If you have elderly or disabled neighbors, check in on their storm plan now, a five-minute knock is often the difference between a smooth evacuation and a last-minute crisis.
Check with your insurance agent or contractor for specifics on your policy or property.
☀️ Weekend Weather
Saturday, Aug. 29: Sunny early, showers and storms likely mainly after 2pm. High near 91°F, heat index up to 105°, 70% chance of rain. Sunday, Aug. 30: Mostly sunny, showers and storms likely mainly after 2pm. High near 91°F, 70% chance of rain. Source: National Weather Service Miami (issued 3:56pm EDT, Thursday, Aug. 27, 2026)
📅 5 Things to Do This Week
🌸 Waterlily Weekend at Naples Botanical Garden - Sat. Aug. 29 & Sun. Aug. 30, 9am-2pm. Two days celebrating 500+ waterlily specimens with tours, demos and family activities. 4820 Bayshore Dr., Naples.
🎶 Songwriters for Vets, Bonita Springs - Sat. Aug. 29, 7-10:30pm. Nashville songwriter round fundraiser for veterans' organizations, featuring Patrick Davis, Eric Paslay, Tim Nichols and Tyler Reeve. Hyatt Regency Coconut Point, 5001 Coconut Rd., Bonita Springs. Tickets from $125.
🎒 Back-to-School Community Fair at Gulf Coast Humane Society - Sat. Aug. 29, 11am-2pm. Free family event.
🎨 Sunset Paint and Sip at LaPlaya Beach & Golf Resort - Sat. Aug. 29, 6:30-8:30pm, $50/person, Naples.
🦩 "Through the Light of the Estuary" art exhibit at Rookery Bay - On view daily, 9am-4pm, through the issue window. Juried mixed-media show of Collier and Lee County artists.
👀 What We're Watching
Keep an eye on Fort Myers Beach's decisions on the Wyndham and Silver Sands redevelopment plans in the weeks ahead, and on whether any Collier or Lee County officials take a public stance on Amendment 3 before the Nov. 3 vote. Neither has a confirmed date within our next issue's window yet.
Open House This Weekend
6820 Pelican Bay Blvd #133, Naples | $1,295,000 | 3+Den / 2 Bath | MLS# 226024426
Turnkey furnished and comprehensively renovated, this third-floor Pelican Bay residence offers 2,291 square feet designed for both everyday comfort and visiting family. The three-bedroom, two-bath layout includes two air-conditioned office or den spaces with pocket doors and sleeper seating, providing additional flexibility and privacy without compromising the open living areas.
Impact-resistant sliders, a custom kitchen with quartz countertops, thoughtfully selected finishes, Tommy Bahama furnishings, and an expansive great room create a polished, cohesive interior. The location is equally compelling: Marker 36 beach tram access is just across Pelican Bay Boulevard, placing Pelican Bay's private beachfront dining, tennis, pickleball, fitness amenities, and Gulf access within easy reach. Open House 08/30/26 - 1:00-4:00PM
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Have a great weekend!
Jeremy




