Naples, Fla.(November 20, 2015) - Inventory rose 4 percent in the single-family home resale market during October according to the October 2015 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). This rise in single-family home inventory is needed to meet seasonal demand. Broker analysts reviewing the report said it displayed familiar trends that - historically speaking - will set the stage for what is expected to be a busy winter season in real estate.
Unlike the condominium market inventory, which dropped 7 percent, inventory in the single-family home market increased 4 percent overall in October from 2,128 single-family homes in October 2014 to 2,210 single-family homes in October 2015. In North Naples the single-family home inventory rose 14 percent from 571 single-family homes in October 2014 to 650 single-family homes in October 2015. Single-family home inventory in the $500,000 to $1 million price segment rose 20 percent from 531 single-family homes in October 2014 to 637 single-family homes in October 2015.
The NABOR® October 2015 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® October 2015 sales statistics are presented in chart format, including these overall (single-family and condominium) findings:
Overall pending sales decreased 11 percent from 911 homes in October 2014 to 807 homes in October 2015.
Overall closed sales increased 1 percent from 9,746 homes in the 12-months ending October 2014 to 9,828 in the 12-months ending October 2015.
Overall median closed price increased 14 percent from $265,000 in the 12-months ending October 2014 to $302,000 in the 12-months ending October 2015.
Overall median closed price for homes over $300,000 decreased 4 percent from $542,000 in the 12-months ending October 2014 to $520,000 in the 12-months ending October 2015.
Overall inventory decreased 1 percent from 3,939 in October 2014 to 3,903 in October 2015.
Single-family home inventory increased 4 percent from 2,128 single-family homes in October 2014 to 2,210 single-family homes in October 2015.
Condominium inventory decreased 7 percent from 1,811 condominiums in October 2014 to 1,693 condominiums in October 2015.
There is a 4.63 months’ supply of inventory.
Average days on market increased 3 percent from 71 days in October 2014 to 73 days in October 2015.
Navigating through the complex Naples real estate market can be challenging. Buyers and sellers can benefit from the guidance of a local REALTOR®, such as those on the Move2NaplesNow Team who are familiar with the current market. To ensure your next sale or purchase in the Naples area is a success, please contact me to guide you through your real estate transaction.
Author:Fay Bamond Mlinarich Phone: 239-273-4006 Dated: November 20th 2015 Views: 431 About Fay Bamond: ...
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