Naples Florida Real Estate Market News – August 2014
Overall Available Inventory Stands at 4.3 Months Supply
From September 1, 2013 through August 31, 2014, average sales price increased 10.7% in the overall market. Closed sales for August 2014 declined 7.7% from August 2013. This follows a 3% decline in July from July 2013. The price segments showing declines in number of closings were properties priced between $2 million and $5 million (down 42%) and those priced under $250,000 (down 21%). All other categories remained stable or increased in number of closings.
LISTED, PENDED, CLOSED YEAR TO DATE AUGUST 2014
LISTED, PENDED, CLOSED MONTH OF AUGUST 2014
BREAKDOWN BY PRICE CATEGORY YEAR TO DATE AUGUST 2014 (This chart shows the percentage of the market represented by each price segment).
CLOSED SALES
- From September 1, 2013 through August 31, 2014, average sales price increased 10.7% in the overall market.
- Closed sales for August 2014 declined 7.7% from August 2013. This follows a 3% decline in July from July 2013.
- The price segments showing declines in number of closings were properties priced between $2 million and $5 million (down 42%) and those priced under $250,000 (down 21%). All other categories remained stable or increased in number of closings.
PENDED SALES
- All price segments show increases in number of pended sales year-to-date with properties between $750,000 and $1,000,000 increasing 30% (457 v 592).
- Pended sales in August decreased for the month for the first time since 2011, with a decrease of 9% in Bonita/Estero and 6% in Naples (7% total).
NEW LISTINGS/INVENTORY
- On September 1, 2014, available inventory in the combined Naples, Bonita Springs and Estero market stands at 4,509 units (2,451 single family
homes and 2,058 condominiums). This represents a 4.3 month supply based on the number of closings in the past 12 months. - During August 2014, the number of new listings taken increased 7% overall from August 2013; however, the Bonita-Estero area experienced a
5% decrease.
“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS. Copyright 2014 Southwest Florida MLS. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it.”