Naples Bonita Spring Estero Real Estate Market Watch January 2015
Naples Bonita Spring Estero Real Estate Market Watch January 2015
Note: The Market Watch report is dated based on the last month’s data included within.
COMBINED INVENTORY – Naples, Bonita, Estero
Thumbnail represents the total combined inventory for Naples – Bonita Springs – Estero
The usual January bump in inventory took place like clockwork for 2015. The combined inventory jumped by a little more than 7% month-over-month, however in total there are 10% fewer properties on the market year-over-year. It’s interesting to note that the usual seasonal bump occurred in spite of an anomalous jump of some 25% in November of 2014. This was a bit of a surprise.
The very early pre-season bump I attribute to the rising market, pent up demand for sellers looking to up-size, down-size, or perhaps buy that new dream home in one of the nearly 60 developments offering new product and new community. New inventory added to the market totaled 2,222 properties in January.
Naples
From left to right – Closed Sales volumes, Average price paid, Median Price of homes sold
CLOSED SALES
A very large amount of closed sale transactions in December 2014 put a damper on the volume sold in January 2015. Closed sale transactions were down 12% and 24% year-over-year and month-over-month. The volume of new contracts, hence pending sales, seem to indicate that February closed sale volume will bump up once again as seasonally predicted.
AVERAGE PRICE PAID
The average price paid for a home in Naples is on a tear – up 18% month-over-month and 12% year-over-year to $574,000. The average price paid for a single-family home was $701,000 and $431,000 for a condominium.
MEDIAN SALE PRICE
(The number where 50% of the homes sell above and below.)
The median price paid for a home in Napes is on a tear – up 23% year-over-year and 9% month-over-month to $310,000. The median price for a single family home was $310,000 and for a condominium the median price was $255,000.
Bonita Springs – Estero
From left to right – Closed Sales volumes, Average price paid, Median Price of homes sold
CLOSED SALES
The Bonita-Estero market, with fewer numbers per month overall to report, followed the Naples trend. It dropped just 2% year-over-year but more than a 35% decrease month-over-month was noted with just under 200 closed sale transactions posted. Bonita-Estero averages about 270 closed sale transactions per month over the last 12-month period.
AVERAGE PRICE PAID
The average price paid was up 8% month-over-month and flat on a year-over-year basis for January to $380,000. The average price paid for a single-family home was $472,000 and the average price paid for a condominium was $281,000. 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 median price paid for a home was flat year-over-year and down 3% month-over-month to $261,000. The median price paid for a single-family home was $261,000 and the median price paid for a condominium was $220,000.
