Naples Real Estate Market Watch November 2016 RealEstateInThe239

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

COMBINED INVENTORY – Naples, Bonita/Estero

Upward growth continues… – Three consecutive months of inventory growth. On average for both Naples and Bonita/Estero markets, the inventory is increasing almost 6% per month.

The total number of active listings on the market ending November 2016 was 7,454.

Generally, slower sales volume and new listings added are contributing to the inventory growth. For October and November 1,753 and 1,741 properties have been added respectively. The number of new construction listings is about the same at 720 but as a percentage of the total listings they have dropped to 12% from a high of 17% in the dead of summer.

CLOSED SALES – Naples, Bonita/Estero

Sales volume growth rebounds… – The combined sales volume for Naples, Bonita, and Estero increased 4% month-over-month and 3% year-over-year.

The Naples area fell back just a bit, 2% month-over-month but increased 5% on a year-over-year basis while the Bonita/Estero area was just the opposite with a healthy 5% increase month-over-month but behind 6% on the year-over-year comparison.

NAPLES

AVERAGE PRICE PAID

Up… – Following two months of modest month-over-month gains in average price paid running 1% – 3% November posts a 9% jump in price paid while in a year-over-year basis November is behind 8% in line with the past few months.

The average price paid in November for a single-family home was $629,000 up from $595,000 in October and $439,000 for a condominium up from $351,000. The overall average price paid for all property types in November 2016 was $532,000 up from $489,000.

MEDIAN SALE PRICE

(The number where 50% of the homes sell above and below.)
Steady, still… – The overall median price paid for a property didn’t change much month-over-month but it did move downward by about 2% consistent with recent month’s performance while it moved downward year-over-year by 4%. Save for two months during the last couple of years, the year-over-year median priced paid has been increasing ~3% – 20% year-over-year.

The median price paid for a single-family home was $365,000 up from $360,000 the previous month, and the median price for a condominium was $242,000 up from $230,000. The overall median price paid was $300,000 down from $305,000 the previous month.

BONITA SPRINGS – ESTERO

AVERAGE PRICE PAID

Up & steady… – The average price paid for a property in the Bonita/Estero market was up 9% month-over-month and steady year-over-year.

The average price paid in November for a single-family home was $518,000 up from $450,000 and $327,000 for a condominium up from $319,000. The overall average price paid for a property was $414,000 up from $380,000 the previous month.

MEDIAN SALE PRICE

(The number where 50% of the homes sell above and below.)
Fared well, again… – The overall median price paid was up 7% month-over-month and up 5% on a year-over-year basis now at $299,000 up from $280,000 the previous month.

The median price paid for a single-family home is now at $385,000 up from $352,000 and for a condominium $228,000 down from $235,000 the previous month.