COMBINED INVENTORY – Naples, Bonita/Estero

Total inventory turned the corner. It’s always a toss-up between July and August of each year as to which month will hit the low point for the current year. In 2015 it looks to be August with about 4,450 active listings new and resale combined as listed in the multiple listing service. The cry for inventory is finally heard and I suspect that some sellers will want to get ahead of the curve to meet demand from buyers ready, willing, and able.

Do you have a southwest Florida property ready to sell? Call me now.

CLOSED SALES – Naples, Bonita Springs /Estero

Pretty much a down month – and it’s not all that unexpected in the dead of summer.

Naples closed sales volume was down about 9% month-over-month and down about 8% year-over-year. Total closed sales volume for Naples is just one property ahead of the lowest month since 2011.

The overall inventory of properties for sale below $300,000 drops 26% year-over-year.

Bonita/Estero closed sales volume was down about 16% year-over-year and down about 27% month-over-month. Do remember that the overall volume in Bonita/Estero is only about 270 properties per month on average for the last 12 months. So, the swings represented in a percentage basis can seem quite high. By comparison, the Naples market sees on average of about 858 property sales per month over the same 12 month period.

Naples

AVERAGE PRICE PAID

Up and down. Following a month with large price increases both year-over-year and month-over-month we see, still, a 13% price paid increase and an 11% price paid decrease respectively for the same time periods. Year-over-year comparisons really tell the story, show the trends, and smooth out the bumps in the monthly numbers. These numbers are all raw data and no attempt is made to seasonally adjust. Simply review the graphs.

The average price paid for a single-family home was $632,000 and $347,000 for a condominium.

MEDIAN SALE PRICE

(The number where 50% of the homes sell above and below.)

The overall median price paid for a property was up 16% year-over-year and up 5% month-over-month. In August half of the buyers paid more than $300,000 and half of the buyers paid less than $300,000 up from $285,000 in July – $365,000 for a single-family and $229,000 for a condominium.

Bonita Springs – Estero

AVERAGE PRICE PAID

Up and down. Year-over-year and month-over-month we see a 2% price paid decrease and a 2% price paid increase respectively. Year-over-year comparisons really tell the story, show the trends, and smooth out the bumps in the monthly numbers. These numbers are all raw data and no attempt is made to seasonally adjust. Simply review the graphs.

The average price paid for a single-family home was $414,000 and $367,000 for a condominium.

MEDIAN SALE PRICE

(The number where 50% of the homes sell above and below.)

Up and down, also. Median prices held strong year-over-year. The overall median price paid was up 9% year-over-year and down 8% month-over-month. The year-over-year increase, however, is quite significant as represents 29 consecutive months of year-over-year increase. Wow!

The median price for a single-family home is $345,000 and for a condominium $235,000. The Bonita/Estero market is steadily approaching par with the Naples market but, generally Naples properties are a bit older on average albeit.