RealEstateInThe239 Naples Bonita Springs Estero Real Estate Market Watch April 2016

RealEstateInThe239 Naples Bonita Springs Estero Real Estate Market Watch March 2016

Naples Homes for Sale – Bonita Springs Homes for Sale – Estero Homes for Sale

COMBINED INVENTORY – Naples, Bonita/Estero

Inventory goes down…! – Finally, in April the increasing inventory cycle that has extended several months beyond the usual seasonal trend has been broken. The inventory dropped by a little more than 1.6% from March 2016. However, the inventory is still substantially more than it was twelve months ago. This is understandable as it will now take awhile to work off the total increase over the past few months.

CLOSED SALES – Naples, Bonita/Estero

Sales volume rising…  – The Naples market posted more than a 15% jump in closed sale volume month-over-month and the Bonita/Estero market faired similarly with a 10% increase month-over-month. However, both markets remain down ~20% on year-over-year basis. This should be put into perspective. The volume of sales during April 2015 was at all time highs since 2006. Yes, down year-over-year but still cruising along at a healthy pace.

Naples Homes for Sale

AVERAGE PRICE PAID

Increased  – after several months of stable price-paid reports, April 2016 jumps to double digit increases month-over-month and year-over-year – 14% and 12% respectively.

The average price paid in April for a single-family home was $776,000 up from $635,000 and $465,000 for a condominium up from $448,000. The overall average price paid for all property types in April 2016 was $613,000 while the average overall price paid over the last twelve months is now $560,000.

MEDIAN SALE PRICE

(The number where 50% of the homes sell above and below.)
Increased  – The overall median price paid for a property was up month-over-month and year-over-year, 3% and 5% respectively.

The overall median price paid was $325,000 up from $317,000, the median price paid for a single-family home was $420,000 up from $380,000, and the median price for a condominium was $250,000 down from $255,000.

Bonita Springs – Estero

AVERAGE PRICE PAID

Increased – The average price paid for a property in the Bonita/Estero market was up 8% month-over-month and even with the price paid one year ago.

The average price paid in April for a single-family home was $517,000 up from $458,000 and $333,000 for a condominium up from $325,000.

MEDIAN SALE PRICE

(The number where 50% of the homes sell above and below.)
Increased – The overall median price paid was up 10% year-over-year and it was up 10% on a month-over-month basis also now at $330,000 up from $299,000. The year-over-year increase continues its streak now with 37 consecutive months at or above 100% on a year-over-year basis.

The median price paid for a single-family home is now at $408,000 up from $393,000 and for a condominium $260,000 up from $240,000.