Naples Real Estate Market Watch December 2016 RealEstateInThe239

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

COMBINED INVENTORY – Naples, Bonita/Estero

Inventory grows but slows… – The growth in the available for sale inventory has slowed a bit to 4% month-over-month. This follows four consecutive months of growth of 6%, 7%, and 8%.

The total number of active listings on the market ending December 2016 was 7,760. Contrast this to December of 2015 when the inventory was 5,596.

Increased overall closed sale activity is absorbing much of the newly added listings thereby slowing the growth of inventory.

CLOSED SALES – Naples, Bonita/Estero

Sales volume is back big time… – The Naples market is up 10% month-over-month and the Bonita/Estero market is up 8% month-over-month. Both locales are behind the 2015 numbers but, 2015 was one of three banner years (2013-2015) since the boom.

Strong sales and the leveling off of new listings added will help to bolster price points. See next.

NAPLES REAL ESTATE

AVERAGE PRICE PAID

Up… – December 2016 – Naples ends the year with a bang and a 6% increase in price paid based on overall month-over-month numbers. This follows November 2016 where Naples posted a 9% increase in price paid. December 2016 was also up 10% on a year-over-year basis while November did not fare as well, down 9% year-over-year.

The average price paid for a single-family home was $681,000 up from $529,000 in the prior month and $411,000 for a condominium down from $430,000. The overall average price paid for all property types was $559,000 up from $529,000.

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.)

Up and up… – The overall median price paid for a property jumped 15% month-over-month and 10% year-over-year. This is very healthy performance especially in light of the three previous months being essentially flat.

The median price paid for a single-family home was $409,000 up from $365,000 the previous month, and the median price for a condominium was $253,000 up from $238,000. The overall median price paid was $345,000 up from $300,000 the previous month.

BONITA SPRINGS & ESTERO REAL ESTATE

AVERAGE PRICE PAID

Up & up… – The average price paid for a property in the Bonita/Estero market was up 10% month-over-month and up 10% year-over-year. This makes four consecutive months of month-over-month price paid growth of 106% – 110%.

The average price paid for a single-family home was $549,000 up from $517,000 and $324,000 for a condominium down slightly from $325,000. The overall average price paid for a property was $451,000 up from $412,000 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.)
Up and up… – The overall median price paid was up 6% month-over-month and up 5% on a year-over-year basis now at $316,000 up from $299,000 the previous month.

The median price paid for a single-family home is now at $373,000 down from $388,000 and for a condominium $231,000 up from $226,000 the previous month.