No Comments

MARKET REPORT – February 2014 FOR NAPLES, BONITA, ESTERO MARKET AREAS

Number of Sales above $2M Back to 2005 Levels

The February 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 continues its hot start and is poised get better.

LISTED, PENDED, CLOSED YEAR TO DATE February 2014

Listed Pended Closed

LISTED, PENDED, CLOSED MONTH TO DATE February 2014

Listed pended closed month

BREAKDOWN BY PRICE CATEGORY YEAR TO DATE February 2014 (This chart shows the percentage of the market represented by each price segment.)

Range

Closed Sales

  • Closings for the first two months of 2014 are the highest on record, exceeding the previous 2005 high of 1,772 closings.
  • Average closed sales price in Naples year-to-date is $556,377 and the average for Bonita Springs / Estero is $357,009.
  • Median sales price year-to-date is up 17% over the same period 2013.
  • Sales greater than $1,000,000 posted the largest gains in average sales price, up 24.5% over the first two months of 2013. This is driven by a substantial increase in the number of closed sales above $5,000,000 (12 in 2014 vs 3 for the same period 2013).
  • The number of sales above $2,000,000 during January and February are at 2005 levels (83 in 2005 vs 82 in 2014).

Pended Sales

  • The number of pended sales during February increased in Naples and Bonita Springs/Estero. Bonita/Estero posted a 19% gain and Naples was up 18% from February 2013.
  • Pended sales for the month are the highest on record.

New Listings

  • The total number of new listings taken in February is up slightly 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 from the previous year (up 34% and 36% respectively).
  • On March 1, 2014 available inventory in the combined Naples, Bonita Springs, Estero market stands at 6,129 units (3,001 condominiums and 3,128 single family homes). This represents a 6 month supply based on the number of closings in the past 12 months.

 

“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.”