Naples Florida Real Estate Market Report
May 2014
Year-to-date closed sales in 2014 are 8% higher than the same time in 2013, and now exceed 2005 levels for the period. The average monthly sales price is at the highest level since 2008; however, it is still below the peak for the month of May in 2006 ($695,213). The list-to-sale price ratio has continued to increase since the low in 2009 (88%). As of May 2014, the list-to-sale price ratio is 94%, which is approximately the same as May 2006. The number of sales in the luxury home market (over $1.0 M) increased 37%, year-to-date over prior year, and is the highest on record. The average days on market decreased 31% to a low of 5 months (151 days), down from an average 219 days year-to-date 2013.
LISTED, PENDED, CLOSED YEAR TO DATE MAY 2014
LISTED, PENDED, CLOSED MONTH OF MAY 2014
BREAKDOWN BY PRICE CATEGORY YEAR TO DATE MAY 2014 (This chart shows the percentage of the market represented by each price segment)
CLOSED SALES
- Year-to-date closed sales in 2014 are 8% higher than the same time in 2013, and now exceed 2005 levels for the period.
- The average monthly sales price is at the highest level since 2008; however, it is still below the peak for the month of May in 2006 ($695,213).
- The list-to-sale price ratio has continued to increase since the low in 2009 (88%). As of May 2014, the list-to-sale price ratio is 94%, which is approximately the same as May 2006.
- The number of sales in the luxury home market (over $1.0 M) increased 37%, year-to-date over prior year, and is the highest on record. The average days on market decreased 31% to a low of 5 months (151 days), down from an average 219 days year-to-date 2013.
PENDED SALES
- The number of pended sales in May 2014 increased 11.5% over May 2013, indicating a continued high level of buyer interest in the Southwest Florida market.
- The number of pended sales increased in each price category over prior year. The greatest increases occurred in the $2.0 M – $5.0 M range (up 51%) and over $5.0 M (up 60% – with 56 pended vs. 35 in 2013).
NEW LISTINGS
- Available inventory in the Naples, Bonita Springs, Estero market on June 1, 2014 stands at 5,024 units (2,310 condominiums and 2,714 single family homes). This is a 7% decline from June 1, 2013, and represents approximately a 4.8 month supply.