September 2015 Real Estate Market Report SWFL

September 2015 Real Estate Market Report SWFL

The latest market report for September 2015 was released, detailing the real estate market statistics for the Bonita Springs-Estero area. The Matrix Multiple Listing Service (MLS) report provides data on new property listings, closed sales figures, and the average and median sale price of units located in Bonita Springs-Estero. The report also shows a snapshot of the available inventory and the anticipated supply for several neighborhoods in the area.

According to the MLS, the number of new listings in the area decreased slightly, compared to years prior. There were 18,459 new listings in 2015, which was lower than in 2014 or 2013, when there were 18,542 and 19,502 new listings. Closed sales increased to 13,529, compared to the 13,385 closed sales in 2014. Additionally, over the past year, the average sale price has risen from $452,000 to $514,000, an increase of 13.7%.

Closed sales figures from January through September 2015 are virtually the same as the figures from 2014. While the number of closed sales has remained nearly identical, the average year-to-date sales price has increased 13.5%, from $467,474 in 2014, to $530,698 in 2015. Over the past 12 months, closed sales on luxury homes, priced over $2 million have increased by 13%.

The 4.5% decrease in closed sales figures, is due to decreased inventory on single-family homes and condominiums. The closed sales figures for the previous 12 months demonstrates a 3.9 months’ inventory supply. The average list price increased 12.7%, to $612,567, and the median list price increased by 16.5%, compared to the rolling 12-month period. The closing sales price similarly reflected the rise in list price. The average year-to-year closed sales price has risen 11.4%, and the median price has climbed 16.8%. Closed sales over $2 million have followed these figures closely, with the average sale price rising 12.6% over the past year. This increase is indicative of the high demand for luxury properties located in Southwest Florida.

SWFL Single-Family and Condo Statistics

The number of single-family homes available in Barefoot Bay as of October 1 is 16, with 21 annually closed sales, providing 9.14 months of supply to the area, with an average closing price of $3,402,738. There are 10 available condominiums, with 17 annual sales, providing 7 months of supply, with an average cost of $908,412.

In Grey Oaks, there are 36 single-family homes, with 72 closed annual sales, offering 6 months’ supply, with an average price of $2,437,901. There are 8 condominium units available in this community, with 17 closed annually, offering 5.65 months of supply, at an average cost of $795,039. There are currently 67 available single-family homes in Old Naples, with 72 closed annually, allowing for 11.17 months of supply, at an average sale price of $3,222,139.

Old Naples offers 43 available condominium units, with 141 annual closed sales, providing 3.66 months of supply, with an average sale price of $711,912. In Pelican Landing, there are 21 available single-family homes, with 57 closed annually, providing 4.42 months of supply, with an average sale price of $772,998. There are 19 condominiums at this time with 72 closing annually, providing 3.17 months of supply, with an average sale price of $323,719. There are 16 available single-family homes in the Pelican Marsh community, with 60 annual closings, providing 3.20 months of supply at an average cost of $1,627,242. There are 17 available condominiums, with 73 annual closed sales, providing 2.79 months of supply, with an average sale price of $425,911. There are 11 single-family homes located in the Tiburon community, with 16 annual closings, providing 8.25 months of supply, with an average cost of $1,849,469. There are 14 available condominiums, with 46 annual sales being closed, representing 3.65 months of supply, with an average cost of $721,623.

In summary, the average home price continues to increase in both the single-family and condominium market in Southwest Florida. Additionally, the luxury market is experiencing brisk sales, due to increasing demand. The condominium and single-family home markets are still experiencing inventory challenges, making it an excellent time for all home owners to sell. Property owners, hoping to sell this season should list now, as opposed to waiting for January 2016.

To view our current listings or to request a Market Analysis, visit our real estate website!

By: D. Michael Burke, P.A.

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