Naples & Southwest Florida Real Estate
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Naples Real Estate Market Watch February 2017 RealEstateInThe239

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

 

COMBINED INVENTORY – Naples, Bonita/Estero


naples real estate inventoryInventory still growing, yet… – 2,012 new listings were added during February and the inventory of available homes for sale increased nearly 2% to now 8,486 active for-sale listings.


The total number of active listings on the market at the end of February 2017 is approximately 20% higher than it was in February 2016, one year ago. You will have to look back to April 2011 to see when the inventory was higher at 8,759 active listings.


CLOSED SALES – Naples, Bonita/Estero


Sales volume improved… – February posted some modest gains for closed sale volume. Naples improved 3% month-over-month and 11% year-over-year. Bonita-Estero improved 2% month-over-month and 15% year-over-year. February closed sale volume is largely the result of contracts written in December 2016 and early January 2017.


NAPLES REAL ESTATE

 naples homes for sale trends


AVERAGE PRICE PAID

Largely unchanged… – February 2017 – Naples showed a small month-over-month increase in the average selling price of 1% while the year-over-year number declined about 1%.


The average price paid for a single-family home was $745,000 up from $687,000 in the prior month  – a healthy increase –  and $391,000 for a condominium down from $428,000 – a healthy decrease. The overall average price paid for all property types was $575,000 up from $567,000.


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


MEDIAN SALE PRICE

(The number where 50% of the homes sell above and below.)
Modest improvement… – The overall median price paid for a property was up 3% month-over-month and 4% year-over-year. 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 $380,000 up from $370,000 the previous month, and the median price for a condominium was $250,000 down from $253,000. The overall median price paid was $325,000 up from $315,000 the previous month. The $325,000 overall median price paid is about 3% above the 12 month average for this number… a welcome improvement.


BONITA SPRINGS and ESTERO REAL ESTATE


estero real estate


AVERAGE PRICE PAID

Down … – The average price paid for a property in the Bonita/Estero market was down 2% month-over-month and down 11% year-over-year. Rising inventory generally indicate slower sales overall and drives prices downward.


The average price paid for a single-family home, however, was $507,000 up substantially from $451,000 and $285,000 for a condominium down substantially from $324,000. The overall average price paid for a property was $377,000 down from $385,000 the previous month about 2%.

                                         

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

 


MEDIAN SALE PRICE

(The number where 50% of the homes sell above and below.)
Down… – The overall median price paid was down 6% month-over-month and down 9% on a year-over-year basis now at $290,000 down from $310,000 the previous month. The represents a substantial swing toward lower priced properties.


The median price paid for a single-family home is now at $459,000 up from $375,000 and for a condominium $255,000 up from $247,000 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.

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