Market Report for August 2015

NAPLES / BONITA SPRINGS / ESTERO MARKET AREA

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CLOSED SALES

  The number of closed sales through August is down 4.4% from the same period in 2014 (9,223 vs. 9,649). Sales pace is driven by inventory, demand and pricing.

  Closed sales during the month of August are down 10% from August 2014, but remain the fourth highest on record for the month (2000 – 2015). The consistent number of sales over the past several months indicates the market is enjoying solid demand.

  During the past 12 months, closings for properties priced above $2 million are up 13% (459 vs. 407). This category continues to be in high demand with year-to-date closings up 5.1% over the first eight months of 2014.

NEW LISTINGS/INVENTORY

  Available inventory on September 1, 2015 consisted of 4,198 units, down 6.9% from prior year.

  Average list price for the past 12 months is $614,842, up 15.1% from the 12 months ending September 1, 2014. Median list price increased17.5% during the 12 months ending September 1, 2015.AVERAGE AND MEDIAN SALES PRICE

AVERAGE AND MEDIAN SALES PRICE

  Average price of closed sales during the month of August increased 11.4% year-over-year, while median closed price increased 12.8%.

  Average price of sales above $2 million increased 11.8% over the past 12 months, from $3,537,716 to $3,956,725. Median price in this category is up 12.8% from $2,800,000 to $3,157,000.

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