Average Days on Market Decreases; Pended Sales Highest Level Since 2005
The January 2014 Market Report is now available! Covering the Naples, Bonita Springs and Estero combined market. You can get info on sales, pending sales and information in what the inventory situation looks like. 2014 is off to a hot start and only looks to be improving for next month.
LISTED, PENDED, CLOSED YEAR TO DATE JANUARY 2014
LISTED, PENDED, CLOSED MONTH TO DATE JANYARY 2014
BREAKDOWN BY PRICE CATEGORY YEAR TO DATE JANUARY 2014 (This chart shows the percentage of the market represented by each price segment.)
- When reviewing this report, be aware that it represents only one month’s activity.
- The average sales price in January 2014 is 36% higher than January 2013. On a rolling 12 month basis, it is up 14.7%.
- The average days on market for closed sales in January 2014 was 96 days (3 months), which is the lowest level since John R Wood Properties began tracking the closed market in 2000.
- In January, the luxury home market experienced the greatest increase (125%) in sold volume ($91,365,149 to $205,356,510) and is near the 2005/2006 sales pace. The number of closings in this segment was almost double the January 2013 count, with 86 closings vs. 45 in 2013.
- There were six closed sales in January 2014 greater than $5,000,000. Three sales were in Port Royal, two in Old Naples and one in Park Shore.
- Pended sales in January 2014 were at the highest level since January 2005 (1,543) and the second highest January on record. The $750,000 to $1,000,000 price range experienced the largest increase in the number of sales, up 61% over January 2013.
- As a result of continued monthly increases in pended sales, closings are expected to remain strong over the coming months.
- The total number of new listings taken in January is down when compared to the same time last year. The $1,000,000 – $2,000,000 and the greater than $5,000,000 segments had the greatest increases in the number of listings taken from the previous year (34% and 36%, respectively).
- There were 5,892 active listings as of February 1, 2014 (2,956 single family homes and 2,936 condominiums). The number of available listings declined 18% from February 1, 2013.
- Based upon the closed sales for the previous twelve months, there is 5.8 months’ supply of inventory.
“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.”