Naples Bonita Spring Estero Real Estate Market Watch December 2014

Naples Bonita Spring Estero Real Estate Market Watch December 2014

Note: The Market Watch report is dated based on the last month’s data included within.

COMBINED INVENTORY – Naples, Bonita Springs, Estero

It’s all downhill from here, at least as it pertains to the inventory of resale properties. The peak inventory for the past twelve months has come and gone. Right now, at the current sales rate, there is a five month supply of properties on the market. Following November 2014’s whopping 25% inventory jump, it’s now seen for December 2014 that buyers did not wait and the inventory has fallen nearly 17%. Not surprising to me. I have buyer customers wanting properties of a specific type and a specific location and I notify them immediately of availability and they are ready to move.

Naples

CLOSED SALES

Closed sale transactions increased 19% month-over-month, 3% year-over-year, and recovered nicely from the modest dip recorded in November. The largest increase (~40%) was noted in condominium sales while single-family sales were up also but a modest amount, about 6%.

AVERAGE PRICE PAID

Four straight months now for overall average price increases: 22% year-over-year and 4% month-over-month. Single-family and condominiums home properties were up 21% and 28% respectively year-over-year while on a month-over-month basis single-family and condominium homes were up 3% and 14% respectively.

MEDIAN SALE PRICE

(The number where 50% of the homes sell above and below.)
The overall median price paid jumped 18% to $295,000 on a year-over-year basis and increased 11% month-over-month. It’s the median that matters…and a strong change in this number is significant. Just one year ago, half of all sales were above and below $252,000 and in December half of all sales are now above and below $295,000.

Bonita Springs – Estero

CLOSED SALES

Dramatic number changes upward were noted in December. Overall sales increased month-over-month 48% and 16% year-over-year. The average number of properties sold in 2014 was 270 per month, in December 293 were sold or 9% above the monthly average.

AVERAGE PRICE PAID

The average price paid was up 4% month-over-month but down 5% year-over-year for December. The smaller numbers skew the statistics easily. Looking back to November I would conclude, generally, that the average price paid is up about 7% year-over-year. Single-family homes and condominiums posted similar month-over-month increases.

MEDIAN SALE PRICE

(The number where 50% of the homes sell above and below.)
The median price paid for a home was up 8% month-over-month and up 2% year-over-year. It’s the median that matters. One year ago half of all sales were above and below $260,000 and in December half of all sales were above and below $268,000.