Naples Florida Real Estate Market News – October 2014
Closed Sales 13% Higher vs October 2013
Closed Sales during October 2014 are the highest on record for the month, and 13% above October 2013. In the luxury home market above $1,000,000, the number of closed sales year-to-date increased 24%. Average sales price year-to-date is at its highest level since 2008, but remains 30% below the high for this period established in 2007.
LISTED, PENDED, CLOSED YEAR TO DATE OCTOBER 2014
LISTED, PENDED, CLOSED MONTH OF OCTOBER 2014
BREAKDOWN BY PRICE CATEGORY YEAR TO DATE OCTOBER 2014
(This chart shows the percentage of the market represented by each price segment).
CLOSED SALES
- Closed Sales during October 2014 are the highest on record for the month, and 13% above October 2013. In the luxury home market above $1,000,000, the number of closed sales year-to-date increased 24% (1015 v 816).
- Average sales price year-to-date is at its highest level since 2008, but remains 30% below the high for this period established in 2007.
PENDED SALES
- Pended Sales for the month of October increased 13% over October 2013, and are the highest on record for the month. The number of pended sales above $1,000,000 increased 67% over October 2013 (127 v 76).
NEW LISTINGS/INVENTORY
- On November 1, 2014, available inventory in the combined Naples, Bonita Springs and Estero market stands at 4,834 units (2,658 single family homes and 2,176 condominiums). This represents a 4.5 month supply based on the number of closings in the past 12 months, and is a 10% decline from October 2013.
- Year-to-date the number of new listings priced above $1,000,000 is up 26% over prior year.
“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.”