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Market Report – December 2013 for Naples, Bonita, Estero Market Areas

Pended Sales Highest Since 2004; Inventory at a 5.6 Month Supply

LISTED, PENDED, CLOSED YEAR TO DATE DECEMBER 2013

Market Report New

LISTED, PENDED, CLOSED MONTH TO DATE DECEMBER 2013

December Listed new

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

December Range new

CLOSED SALES

  • Median and Average Sales Prices increased year over year, but the average price remains 37% below the 2006 high ($686,015).
  • The number of closed sales in 2013 is the highest since John R. Wood began monitoring closed sales in 2000.
  • Closed sales above $1,000,000 are the second highest on record, exceeded only by 2005 when there were 1,417 closings in this segment.
  • Properties priced below $250,000 continued to shrink as a percentage of the overall market, down to 51% vs. 62% in 2011.

PENDED SALES

  • For the month of December, pended sales greater than $1,000,000 are at the highest level (119) since December 2004 (116).
  • All price segments show an increase in the number of pended sales year-to-date with the exception of properties priced under $250,000 (down 5% from December 2012).

NEW LISTINGS

  • On January 1, 2014, available inventory in the combined Naples, Bonita Springs and Estero market stands at 5,606 units (2,799 single family homes and 2,807 condominiums).
  • This represents a 5.6 month supply based on the number of closings in the past 12 months.
  • On January 1, 2014, the luxury home market accounts for 18% of the active listings.

 

“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.”