Bring Your Highest Expectations™
MONTHLY MARKET REPORT, MAY 2015 For the Naples, Bonita, Estero Market Area
Market Report© – May Naples, Bonita, Estero Market Area
Bring Your Highest Expectations™
12 MONTH COMPARISONS AS OF MAY 31, 2015
30,000
NEW LISTINGS
27,000
2015------------------ 18,563 2014------------------ 18,130
24,000
2013------------------ 18,619 2012------------------ 19,038
21,000
2011------------------ 21,437 2010------------------ 22,719 2009------------------ 24,829
18,000 15,000
CLOSED UNITS
12,000
2015------------------- 13,160
9,000
2014------------------- 12,607 2013------------------- 11,602
6,000
2012------------------- 10,596 2011------------------- 10,265 2010------------------- 10,314 2009---------------------6,930
3,000 0
2009
2010
2011
2012
2013
2014
2015
John R. Wood Properties, Bring Your Highest Expectations.
1
“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.”
Market Report© – May Naples, Bonita, Estero Market Area
Bring Your Highest Expectations™
12 MONTH COMPARISONS AS OF MAY 31, 2015
AVERAGE SALES PRICE $500,000 $480,000
$495k
$460,000 $460k
$440,000 $420,000 $400,000 $380,000
$403k
$400k
$360,000
$374k $364k
$340,000
$350k
$320,000 $300,000
2009
2010
2011
2012
2013
2014
2015
John R. Wood Properties, Bring Your Highest Expectations.
“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.”
2
Market Report© – May Naples, Bonita, Estero Market Area
Bring Your Highest Expectations™
SUMMARY
CLOSED SALES Although closed sales for the past twelve months remain slightly ahead of the prior year, year-to-date closings are down slightly with 6,091 closings this year vs. 6,202 for the same period in 2014. The reduction in sales pace is more reflective of the reduced supply. However, some portion may be due to the increasing prices seen in some areas over the past several years. Closed sales above $2 million are consistent with last year on a year-to-date basis with 257 sales in this category in 2014 and 253 this year. During the past twelve months 435 sales occurred in this price segment vs. 432 in the prior 12 months, revealing a stable market and consistent demand.
NEW LISTINGS/INVENTORY On June 1, 2015, there were 4,755 available residential properties in the Naples, Bonita Springs, Estero combined market (2,845 single family homes and 1,910 condominiums). This represents a 5% decline from 2014 when there were 5,024 total units (2,714 single family and 2,310 condominiums). In the Naples market, the supply of condominiums decreased 12%, while single family homes inventory grew 6%. In Bonita/Estero available condominiums decreased by 33% from prior year while single family home inventory remained approximately the same. The rolling 12-month weighted average list price is $605,459 vs. $535,276 for the prior 12 months, a 13% increase in seller expectations. The rolling 12-month weighted median list price is $335,758 vs. $291,325 for the prior 12 months, a 15% increase in seller price expectations.
AVERAGE AND MEDIAN SALES PRICE Weighted average price for closed sales in May 2015 increased 14.9% year-over-year from $519,795 in May 2014 to $597,112 currently. Median closed price year-to-date through May increased 15% year-over-year, up from $265,000 in 2014 to $305,000 in 2015. The weighted average price for closed sales above $2 million for the past 12-month period ending May 2015 was consistent with the prior 12-month period, ($3,526,400 in 2014 vs. $3,525,229 in 2015), indicating that this segment may have achieved price stability.
John R. Wood Properties, Bring Your Highest Expectations.
3
“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.”
Neighborhood Snapshot Report©
Naples, Bonita, Estero Market Area
SINGLE FAMILY HOMES
MONTHLY SNAPSHOT FOR AS OF JUNE 1, 2015 12-Month Sold Comparison Report for Select Communities Aqualane Shores Barefoot Beach Bonita Bay The Brooks Collier’s Reserve Park Shore/Moorings/Seagate/Coquina Sands Waterfront Park Shore/Moorings/Seagate/Coquina Sands Non Waterfront The Crossings The Dunes Grey Oaks Kensington Lely Resort Mediterra Monterey Old Naples Palmira Pelican Bay Pelican Bay (Bay Colony) Pelican Landing Pelican Landing (The Colony) Pelican Marsh Pelican Sound Pine Ridge Port Royal Quail West Royal Harbor Tiburon The Vineyards West Bay Club
Bring Your Highest Expectations™
AVAILABLE INVENTORY
CLOSED ANNUAL SALES
MONTHS OF SUPPLY
AVERAGE PRICE
30 19 34 44 11 16 81 7 44 10 70 58 7 77 14 7 3 22 8 24 3 37 43 48 16 16 46 6
29 11 87 84 11 53 91 10 66 20 134 44 28 61 43 51 8 57 16 58 12 38 42 40 33 10 69 18
12.41 20.73 4.69 6.29 12.00 3.62 10.68 8.40 8.00 6.00 6.27 15.82 3.00 15.15 3.91 1.65 4.50 4.63 6.00 4.97 3.00 11.68 12.29 14.40 5.82 19.20 8.00 4.00
$4,336,466 $4,959,500 $1,142,100 $810,979 $1,595,909 $2,949,056 $1,079,514 $640,181 $2,457,313 $872,350 $697,006 $1,958,150 $555,375 $3,454,230 $671,536 $1,397,410 $3,099,000 $722,112 $1,344,313 $1,400,759 $584,175 $1,054,037 $9,323,310 $1,929,846 $1,577,588 $1,459,250 $686,363 $804,986
John R. Wood Properties, Bring Your Highest Expectations.
“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.”
4
Neighborhood Snapshot Report©
Naples, Bonita, Estero Market Area
CONDOMINIUMS
MONTHLY SNAPSHOT FOR AS OF JUNE 1, 2015 12-Month Sold Comparison Report for Select Communities Aqualane Shores Barefoot Beach Bonita Bay The Brooks Collier’s Reserve Park Shore/Moorings/Seagate/Coquina Sands Waterfront Park Shore/Moorings/Seagate/Coquina Sands Non Waterfront The Crossings The Dunes Grey Oaks Kensington Lely Resort Mediterra Monterey Old Naples Palmira Golf and Country Club Pelican Bay Pelican Bay (Bay Colony) Pelican Landing Pelican Landing (The Colony) Pelican Marsh Pelican Sound Pine Ridge Port Royal Quail West Royal Harbor Tiburon The Vineyards West Bay Club
Bring Your Highest Expectations™
AVAILABLE INVENTORY
CLOSED ANNUAL SALES
MONTHS OF SUPPLY
AVERAGE PRICE
14 35 63 74 31 23 7 12 92 12 1 51 5 55 10 9 31 12 2 10 17 52 7
6 13 145 214 335 114 54 14 21 204 33 6 144 26 280 44 77 62 112 79 21 42 112 33
0.00 12.92 2.90 3.53 2.65 3.26 5.11 6.00 6.86 5.41 4.36 2.00 4.25 2.31 2.36 2.73 1.40 6.00 1.29 0.30 5.71 0.00 4.86 5.57 2.55
$596,167 $1,008,385 $649,213 $249,525 $1,179,692 $286,735 $1,007,251 $770,075 $418,348 $286,396 $531,667 $325,167 $760,241 $306,544 $859,297 $2,688,243 $309,056 $821,123 $336,454 $258,053 $211,448 $701,471 $373,561 $468,432
John R. Wood Properties, Bring Your Highest Expectations.
5
“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.”