Luxury Home New Listings Up 27% vs. Same Time in 2013; Average Sale Price Increases in Q1 2014
The March 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 March 2014
LISTED, PENDED, CLOSED MONTH TO DATE March 2014
BREAKDOWN BY PRICE CATEGORY YEAR TO DATE March 2014 (This chart shows the percentage of the market represented by each price segment.)
- The number of closings during the past 12 months is the highest since 2005 (10,590 vs 12,379).
- The $2.0 million – $5.0 million price segment posted a 68% increase in closed units over first quarter 2013. Volume was up 74% with $297.5 million closed vs $170.6 million in Q1 2013.
- The average sales price for single family and condo sales in the 1st Quarter 2014 increased 19% when compared to the same time in 2013. The year-to-date average sales price for single family is $621,747 and condo is $350,635.
- Pended sales during March increased in Naples (14%) and Bonita Springs/Estero (22%) from March 2013.
- First Quarter 2014 pended sales priced between $2,000,000 and $5,000,000 increased 66% over 1st quarter 2013, the largest increase in any price segment.
- During the 1st quarter 2014, new listings in the luxury home market (greater than $1.0 million) are up 27% when compared to the same time last year. The greater than $5,000,000 segment had the largest increase from the previous year (69%).
- On April 1, 2014 available inventory in the combined Naples, Bonita Springs, Estero market stands at 5,615 units (2,656 condominiums and 2,959 single family homes). This represents a 5.4 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.”