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Naples Florida Real Estate Market News – July 2014

Naples Florida Real Estate Market News – June 2014

Sales Volume Increases 28% for $1M+; YTD Pended Sales Increase in all Price Segments

 Year-to-date closed sales volume increased 17% from 2013 and is at the highest level since 2005. Sales greater than $1,000,000 were a major factor in the large increase in sales volume, with a 28% increase in total number of sales from the previous year (647 vs 828). Sales below $250,000 had the largest increase in average sales price when compared to July 2013 ($165,758 vs. $155,633, a 7% increase). The average days on market for product under $250,000 is at the lowest level for any time period since 2000 (75 days).

LISTED, PENDED, CLOSED YEAR TO DATE July 2014

Market Report AUGUST 2014.indd

LISTED, PENDED, CLOSED MONTH OF JULY 2014

Market Report AUGUST 2014.indd

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

Market Report AUGUST 2014.indd

CLOSED SALES

  • Year-to-date closed sales volume increased 17% from 2013 and is at the highest level since 2005. Sales greater than $1,000,000 were a major factor in the large increase in sales volume, with a 28% increase in total number of sales from the previous year (647 vs 828).
  • Sales below $250,000 had the largest increase in average sales price when compared to July 2013 ($165,758 vs. $155,633, a 7% increase). The average days on market for product under $250,000 is at the lowest level for any time period since 2000 (75 days).

PENDED SALES

  • Pended sales greater than $5,000,000 increased from one unit in July 2013 to seven units in July 2014. Five of the pended sales in July 2014 were in the Pine Ridge, Park Shore and Port Royal/Aqualane areas of Naples.
  • All price segments show increases in number of pended sales year-to-date, with the highest percentage increase in the segment above $2,000,000.

NEW LISTINGS/INVENTORY

  • During July, new listings from $500,000 to $750,000 increased the greatest from the previous year (106 vs 138, 30% increase). The average list price for all price segments on August 1, 2014 is $831,370, which is a 9% increase from August 1, 2013.
  • On August 1, 2014, available inventory in the combined Naples, Bonita Springs and Estero market stands at 4,550 units (2,471 single family homes and 2,079 condominiums). This represents a 4.3 month supply based on the number of closings in the past 12 months and a 9% decrease since August 1, 2013 (5,021 units vs 4,550).
“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS. Copyright 2014 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.”