Naples Bonita Spring Estero Real Estate Market Watch October 2014
Naples Real Estate Market Watch Report
COMBINED INVENTORY – Naples, Bonita, Estero
The combined overall inventory remains at a low level inching up only slightly as we approach the winter season. However, at the current sales rate, even with the increased inventory, there are only about 5.1 months of inventory. This represents more than a 10% decrease from last month. It’s worth noting that the Bonita-Estero inventory did not increase at all in this period. Nearly 1,700 new listings were added overall.
CLOSED SALES
Following a down month in September, which is not all that unusual, October is up and up – up 8% year-over-year and up 10% month-over-month for overall sales volume. Single-family homes remained steady at about 400 properties whiles condominiums jumped up by 20% in closed sale volume.
AVERAGE PRICE PAID
The average price paid is up and up again for October. Up 17% year-over-year and up 5% month-over-month, clearly indicative of a seller’s market due to the reduced inventory. The average price paid was $478,000 — $627,000 for a single-family home and $323,000 for a condominium. Single-family homes jumped 15% while condominiums fell back 7% month-over-month. Year-over-year, single-family homes are up a whopping 30% and condominiums just 1%.
MEDIAN SALE PRICE
(The number where 50% of the homes sell above and below.)
The overall median price paid jumped 7% to $260,000 on a year-over-year basis and held steady month-over-month.
Bonita Springs – Estero Real Estate Market Watch Report
COMBINED INVENTORY – Naples, Bonita, Estero
The combined overall inventory remains at a low level inching up only slightly as we approach the winter season. However, at the current sales rate, even with the increased inventory, there are only about 5.1 months of inventory. This represents more than a 10% decrease from last month. It’s worth noting that the Bonita-Estero inventory did not increase at all in this period. Nearly 1,700 new listings were added overall.
CLOSED SALES
October was a rebound month for the Bonita-Estero market also. Closed sale transactions were up 3% year-over-year and up 15% month-over-month. Single-family home sales increased substantially, nearly 32%, and condominium properties held steady with a very slight increase to 94 from 92.
AVERAGE PRICE PAID
Bonita-Estero prices increased dramatically also, up 15% month-over-month and 14% year-over-year. Single-family homes and condominiums both posted healthy sale price increases.
MEDIAN SALE PRICE
(The number where 50% of the homes sell above and below.)
Likewise, the median sale price followed along. Up 16% year-over-year and up 7% month-over month with gains shared by both single-family properties and condominiums.
