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

Peak inventory moves again to March…! – For the first time since January 2011 (and very likely prior to) we now see the annual peak inventory occurring in March. Yes, I said these same very words last month of February. The total combined inventory crept up a little less that 2% month-over-month. This could change again.  Compared to March of 2015, there are over 30% more homes for sale listed in the multiple listing service (MLS).

Do you have a southwest Florida property ready to sell? Call me now. Properties in the under $300,000 segment and the $300,000-$500,000 are in strong demand priced right.

CLOSED SALES – Naples, Bonita/Estero

The overall closed sale volume jumps back in March – The Naples market posted more than 40% jump in closed sale volume month-over-month and the Bonita/Estero market faired similarly with more than a 30% increased month-over-month. However, both markets were down 20%-25% year-over-year. This must be put into perspective, though. The volume of sales during the 2015 winter season was nearly at an all time high since 2006. Yes, down year-over-year but still cruising along at a healthy pace. We may see sales peak in April for 2016. Stay tuned.

The stock market, while still off its most recent peak in May of last year has recovered nicely. Right now the market is off the 2015 peak by about only 4-5%.

NAPLES homes for sale

AVERAGE PRICE PAID

Leveling out – a straight line view of the average price paid over the last four years shows a pretty steep line of increasing prices. However, with a careful look at the last twelve months you will see, despite the saw tooth month-to-month up and down, virtually a straight flat line. On average, the price paid for a property is stable.

The average price paid in March for a single-family home was $638,000 down from $748,000 and $461,000 for a condominium up from $403,000. The overall average price paid for all property types in March 2016 was $546,000 while the average overall price paid over the last twelve months was $555,000.

MEDIAN SALE PRICE

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

Up and Up.  – The overall median price paid for a property was up month-over-month and year-over-year, 3% and 7% respectively.

The median price paid in March for a single-family home was $382,000 down from $400,000 the and for a condominium it was $259,000 up from $241,000.

BONITA SPRINGS homes for sale | ESTERO homes for sale

AVERAGE PRICE PAID

Down and down – We see a 6% decrease year-over-year and a 10% decrease month-over-month. Year-over-year comparisons really tell the story, show the trends, and smooth out the bumps in the monthly numbers when the overall volume of data is relatively small as is the Bonita-Estero market. Of the previous 14 months there have only been two monthly periods that were down on a year-over-year basis. Bonita-Estero seems to show a leveling off of average prices over the past 12 months as did the Naples market.

The average price paid in March for a single-family home was $459,000 down from $552,000 and $327,000 for a condominium down slightly from $328,000.

MEDIAN SALE PRICE

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

Up and down – The overall median price paid was up 8% year-over-year and it was down 6% on a month-over-month basis now at $294,000 down from $313,000. The year-over-year increase continues its streak now with 36 consecutive months at or above 100% on a year-over-year basis.

The median price paid for a single-family home is now at $393,000 up from $386,000 and for a condominium $240,000 down from $268,000.