Naples, Bonita, Estero market area
This Naples Area Real Estate Market Review is brought to you by Dustin Beard and his team. The Naples, Bonita and Estero markets have all shown significant increases in closed sales and average sold price while the available inventory has decreased. Quality homes and condominiums that are priced right are not lasting long on market.
After three years of relatively stable first quarter closings, Q1 2014 posted a 13% increase. Sales between $2.0 million and $5.0 million remained brisk, (101 closings) posting the highest number of closings in this segment (for any quarter) since Q2 2005, when there were 117 closings. Average closed price for the first quarter increased 19% over prior year, driven by the large number of sales above $2 million. However both average and median sales price remains 32% below their highs for the quarter in Q1 2007. (Exhibit 3)
MONTHS OF SUPPLY