Naples Bonita Spring Estero Real Estate Market Watch April 2015

Wow! Combined sales volume was at a monthly 10-year high in April 2015

COMBINED INVENTORY – Naples, Bonita, Estero

Naples – Bonita Springs – Estero
Combined Inventory

There are no surprises to report regarding the total combined inventory but one notable point. The percentage of new homes (pre-construction, under construction, and immediately available) continues to rise as a percentage of the total inventory, now at 15%.  The total inventory, however, is starting to wane following the typical cycle for southwest Florida.

Naples Real Estate

Closed sales – Average Priced Paid – Median Price Paid

CLOSED SALES

Wow! Naples total closed sales volume hits a record high for the ten year period ending April 2015.  Single-family homes posted the highest month in the ten year period while condominium sales posted the second highest month in the ten year period.

AVERAGE PRICE PAID

April 2015 was up and down for overall average price paid. Up 4% year-over-year and down a mere 2% month-over-month. Wheeling and dealing led to record sales volumes and slightly lower price paid for contracts written in March that closed in May as the end-of-season fever approached. While prices are clearly on the upswing, the price paid for a property is still nowhere close to the peak prices in the past ten year period. The market right now (average price paid of $548,000) is at about 64% of the 10-year peak seen in January of 2007.

MEDIAN SALE PRICE

(The number where 50% of the homes sell above and below.)
The median price paid for a home is up and up – up 18% year-over-year and 4% month-over-month. The previous 10-year peak for median price paid was in 2005, $305,000 for the year. The market right now (median price paid of $310,000) is at about 1.6% ahead of the 10-year annual peak of 2005.

Bonita Springs – Estero

Closed Sales – Average Price Paid – Median Price Paid

CLOSED SALES

Wow, again! The Bonita-Estero market, with fewer numbers per month overall to report compared to Naples, also posted a record number of sales at 392. Single-family homes matched the previous peak in April of 2013 while condominiums gained 12% month-over-month.

AVERAGE PRICE PAID

The average price paid was up 10% on a year-over-year basis and up 6% month-over-month. The overall average price paid continues to rise but still is nowhere near the peak prices seen 2005-2008. A note, again, about the smaller volume numbers for Bonita-Estero skewing statistical trending easily.

MEDIAN SALE PRICE

(The number where 50% of the homes sell above and below.)
The overall median price paid was up and up – up 15% year-over-year and up 12% month-over-month to $300,000, nowhere near the peaks of 2006. Single-family home median price was up to $382,000 and condominiums was up to $248,000.