RealEstateInThe239 Naples Bonita Springs Estero Real Estate Market Watch June 2016

Naples Homes for Sale – Bonita Springs Homes for Sale – Estero Homes for Sale

COMBINED INVENTORY – Naples, Bonita/Estero

Inventory continues downward trend… – Still fewer new listings coming on the market in June 2016, about 20% fewer than were added in May 2016. This combined with the season drop-off in sales activity leaves the total inventory dropping about 5% in June from May for a total end of month combined volume of 6,463 properties for sale.

CLOSED SALES – Naples, Bonita/Estero

Sales volume holding on through the “dog days of summer”… – The Naples and Bonita/Estero market posted a small ~3% decrease in sales volume in June from May 2016. It seems that we have settled in at the summer season run rate and activity is stable. The June 2016 year-over-year sale volume is 90%. This is a dramatic improvement from April and May where the year-over-year numbers were about 80%.

NAPLES

AVERAGE PRICE PAID

Decreased a bit… – The average price paid was off about 9% from May 2016 but on par with June of 2015. Single-family homes and condos were both down.

The average price paid in June for a single-family home was $643,000 down from $723,000 in May and $395,000 for a condominium down from $435,000. The overall average price paid for all property types in June 2016 was $527,000 down from $579,000.

MEDIAN SALE PRICE

(The number where 50% of the homes sell above and below.)

Down a bit, also… – The overall median price paid for a property was down month-over-month and just about on par year-over-year, 7% and 1% respectively.

The overall median price paid was $308,000 down from $330,000, the median price paid for a single-family home was $380,000 down from $407,000, and the median price for a condominium was $229,000 down from $270,000.

BONITA SPRINGS & ESTERO

Naples prices are pushing buyers north into Bonita Springs, Estero, and Fort Myers. This is driving the prices in these areas upward and still, by comparison, Lee County is a bargain.

AVERAGE PRICE PAID

Increased… – The average price paid for a property in the Bonita/Estero market was up 14% month-over-month and up 1% year-over-year, a contrast from the Naples market data.

The average price paid in June for a single-family home was $492,000 up from $435,000 and $338,000 for a condominium up from $295,000. The overall price paid for a property was $416,000 up from $365,000.

MEDIAN SALE PRICE

(The number where 50% of the homes sell above and below.)

Increase… – The overall median price paid was up 20% month-over-month and it was up 4% on a year-over-year basis now at $331,000 up from $276,000. Again, a contrast from the Naples market data.

The median price paid for a single-family home is now at $390,000 up from $345,000 and for a condominium $254,000 up from $246,000.