Naples Florida Real Estate Market News – June 2015
12 Month Comparisons as of June 30, 2015
- Closed sales during the first 6 months of 2015 are approximately the same as prior year, with less than a 2% decrease year-over-year. This indicates a stable market and consistent demand. Factors affecting sales pace include availability of product and pricing.
- Year-to-date, closings for properties priced above $2 million is the same as the first 6 months of 2014, with 288 closed sales.
- During the past 12 months demand remained high in the luxury segment, with 439 sales vs. 428 in the 12 months ending June 30, 2014.
- Available inventory on July 1, 2015 in the combined Naples, Bonita Springs, Estero market stands at 4,501 available units (1,958 condominiums and 2,543 single family homes). This represents a 5% decline from a year ago, when there were 4,718 units available. Condominium supply declined 10%, while the number of single family homes remained approximately the same.
- The rolling 12-month weighted average list price was $560,987 vs. $547,380 for the prior 12-month period. This represents a 2.5% increase in seller price expectations.
- The rolling 12-month median list price in June 2015 was $342,000 vs. $299,999 for the prior 12 months, reflecting a 14% increase in seller price expectations.
- Weighted average price for closings during the month of June 2015 increased 23.7% year-over-year from $482,827 in June 2014 to $597,112 currently. Median price increased 12.5% from $280,000 in June 2014 to $315,000 in June 2015.
- The weighted average price for sales over $2,000,000 for the past 12 months ending June 30, 2015 was $3,935,887 vs. $3,542,914 for the 12 months ending June 2014, reflecting an 11% increase.
- During the past 12 months, all price tiers posted increases in average sales price
“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS. Copyright 2015 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. Naples Florida Monthly Real Estate Market Update is provided by Dustin Beard”