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Naples Florida Market Report – October 2013

Inventory in Naples, Bonita Springs and Estero Market Declines 17% versus October 2012

LISTED, PENDED, CLOSED YEAR TO DATE OCTOBER 2013

Market Report OCT 2013.indd

LISTED, PENDED, CLOSED MONTH OF OCTOBER 2013

Market Report OCT 2013.indd

BREAKDOWN BY PRICE CATEGORY YEAR TO DATE OCTOBER 2013 (This chart shows the percentage of the market represented by each price segment.)

Market Report OCT 2013.indd

Closed Sales

Closed sales from January to October 2013 increased 10% from the same time period in 2012. YTD closed sales in the $250,000 – $500,000 price range and properties priced between 750,000 and $1,000,000 have posted the largest increases, up 31% in each category over prior year. In the luxury home market above $1,000,000, the average closed price for sales in October 2013 is $2,280,793, which is 13% higher than 2012. Sales greater than $5,000,000 almost doubled year to date with 41 sales this year vs. 21 for the same period 2012.

Pended Sales

Pended sales through October 2013 are 10% higher than the same time period in 2012 and the highest on record during the past 10 years. The number of pended sales in all price segments increased over prior year with the exception of properties priced below $250,000, which decreased 4%.

New Listings

The number of new listings placed on the market in October is down from prior year and 10% below the five year average for the month. On November 1, 2013, available inventory in the combined Naples, Bonita Springs and Estero market stands at 5,371 units (2,697 single family homes and 2,674 condominiums). This represents a 5.3 month supply based on the number of closings in the past 12 months, and is a 17% decline from October 2012 when there was a 7.2 month supply.

“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS. Copyright 2013 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.”