Naples Real Estate including Bonita Springs Homes for Sale and Estero Homes for Sale

COMBINED INVENTORY – Naples, Bonita/Estero

Inventory still growing… – The available combined inventory grew by 7% in January now posting five consecutive months of inventory growth.

The total number of active listings on the market ending January 2017 was 8,339. Contrast this to January of 2016 when the inventory was 6,565 or 21% lower.

A very large number of new listings were added to the inventory in January, 2,543. This combined with slowed closed sale activity is swelling the inventory. Basically, there are ten months worth of inventory.

CLOSED SALES – Naples, Bonita/Estero

Sales volume struggling again… – Following a large upswing in December closed sales volume, January’s sales volume hit the brakes – down by 18% month-over-month while about even year-over-year. The Naples market is down 12% month-over-month and the Bonita/Estero market is down 33% month-over-month. Both locales are slightly behind the 2016 numbers.

The average selling price is up but, the median selling price took a hit. See next.

NAPLES

AVERAGE PRICE PAID

Up… – January 2017 – Naples showed a small month-over-month increase in the average selling price of 3% while the year-over-year number is down some 10%.

The average price paid for a single-family home was $694,000 up from $672,000 in the prior month and $434,000 for a condominium up from $408,000. The overall average price paid for all property types was $572,000 up from $554,000.

Your mileage may vary…remember, real estate is local and in southwest Florida it is very local where any given community can be dramatically affected by external factors that may not follow the averages at all.

MEDIAN SALE PRICE

(The number where 50% of the homes sell above and below.)
Just down… – The overall median price paid for a property dropped 7% month-over-month and 5% year-over-year. This is telling. The median price paid is a much better indicator than average price as it tells buyer’s appetite for spending. One large or small sale can skew the average where the median indicates the midpoint of buying activity.

The median price paid for a single-family home was $370,000 down from $405,000 the previous month, and the median price for a condominium was $255,000 up from $250,000. The overall median price paid was $315,000 down from $340,000 the previous month.

Bonita Springs – Estero

AVERAGE PRICE PAID

Just down … – The average price paid for a property in the Bonita/Estero market was down 14% month-over-month and down 18% year-over-year. Four consecutive months of month-over-month price paid growth has ended.

The average price paid for a single-family home was $458,000 down from $549,000 and $324,000 for a condominium up slightly from $321,000. The overall average price paid for a property was $386,000 down from $450,000 the previous month.

Your mileage may vary…remember, real estate is local and in southwest Florida it is very local where any given community can be dramatically affected by external factors that may not follow the averages at all.

MEDIAN SALE PRICE

(The number where 50% of the homes sell above and below.)
Unchanged… – The overall median price paid was down 2% month-over-month and down just 1% on a year-over-year basis now at $310,000 down from $315,000 the previous month.

The median price paid for a single-family home is now at $375,000 up from $374,000 and for a condominium $247,000 up from $231,000 the previous month.

The median price paid is a much better indicator than average price as it tells buyer’s appetite for spending. One large or small sale can skew the average where the median indicates the midpoint of buying activity.