Naples Florida Annual Market Report for 2015
Naples, Bonita, Estero Market Area
Southwest Florida continued to be a popular choice for buyers in 2015. The year posted the second highest number of closings on record, and just 178 fewer than the record-breaking year in 2014. Sales above $1 million continued to increase, as they have each year since 2010, and were up 6% at year-end.
INVENTORY LEVELS AND NEW LISTINGS
Available inventory in the combined Naples, Bonita Springs and Estero market area increased slightly over prior year for the first time since 2007.
Condominium supply increased in all price categories except for units priced below $250,000 (down 27%) and those priced between $500,000 and $750,000 (down 7%).
Single family home availability increased 4% compared to prior year with supply increasing in all price segments except those priced at less than $500,000, which was down 10%.
INVENTORY AND ABSORPTION LEVELS 2008-2015
The number of pended sales during the year was down 3% from 2014 levels, driven by the decrease in available product priced below $250,000. This category was down 23% while all other price segments posted increases in newly-pended sales.
The outlook for Southwest Florida real estate remains optimistic for the coming year. A slightly increasing supply of resale product should create a wider selection for buyers than in recent seasons, and a ready supply of new product further widens the choices.
This report is intended to give the reader a macro-view of the market in the combined Naples, Bonita Springs, Estero areas. Contact Dustin Beard at 239-289-2650 for additional information or to learn more about the area.