Single-family home sales increase 12% in Bonita Springs, Estero market

Altaira, high-rise homes in Bonita Springs, Florida

In the (Bonita Springs-Estero) single-family home (sales) market, closed sale units increased by 12 percent compared to March 2014 and almost doubled in sold units from just last month. The average sale price increased again this month year-over-year by 28.4 percent. The median days on market continues to decrease year-over-year, with a slight decrease of 6 percent compared to March 2014. Pending inventory also decreased by 7.7 percent year-over-year, as did inventory (active listings) by 7. 3 percent. The months’ supply of inventory increased again this month (year-over year) by 30.7 percent compared to March 2014.

In the condominium/townhome market, closed sale units decreased year-over year by 15.1 percent. The average sale price showed a decrease over March 2014 by 7. 1 percent, while inventory (active listings) also had a decrease of 31.2 percent. Pending sales decreased year-over-year by 14.8 percent; the months’ supply of inventory, which stands at 4.1 months as of March 31, 2015, decreased by 1.9 percent year-over-year.

BEAR reports monthly real estate statistics on home listings and sales within Bonita Springs and Estero combined market.

The highlights of the March 2015 report include the following: Single-family homes, as compared to March 2014 year over- year: Closed Sales: 103 units — 12 percent increase; New Pending Sales: 156 units — 3.3 percent increase; New Listings: 161 units — 16.7 percent increase; Average Sale Price: $603,206 — 28.4 percent increase; Median Days on Market: 47 — 6 percent decrease; Inventory of Active Listings: 467 units — 7. 3 percent decrease; and Month’s Supply of Inventory: 5.3 units — 30.7 percent increase.

Condominiums/Townhomes, as compared to March 2014 year-over-year: Closed sales: 107 units — 15.1 percent decrease; New Pending Sales 153 units — 6.7 percent decrease; New Listings: 133 units — 0.7 percent decrease; Average Sale Price: $256,851 — 7.1 percent decrease; Median Days on Market: 36 — 20.0 percent decrease; Inventory of Active Listings: 358 units — 31.2 percent decrease; and Month’s Supply of Inventory: 4.1 units — 1.9 percent decrease.

To see the March 2015 market reports, visit BonitaEsteroRealtors.com

Submitted by WBN Marketing | Bonita Springs— The Bonita Springs-Estero Association of Realtors (BEAR) has posted the March 2015 Monthly Real Estate Market Detail.

Pending Home Sales Rise in January to Highest Level in 18 Months

RISMEDIA, Monday, March 02, 2015

Improved buyer demand at the beginning of 2015 pushed pending home sales in January to their highest level since August 2013, according to the National Association of REALTORS®. All major regions except for the Midwest saw gains in activity in January.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, climbed 1.7 percent to 104.2 in January from an upwardly revised 102.5 in December and is now 8.4 percent above January 2014 (96.1). This marks the fifth consecutive month of year-over-year gains with each month accelerating the previous month’s gain.

Lawrence Yun, NAR chief economist, says for the most part buyers in January were able to overcome tight supply to sign contracts at a pace that highlights the underlying demand that exists in today’s market. “Contract activity is convincingly up compared to a year ago despite comparable inventory levels,” he says. “The difference this year is the positive factors supporting stronger sales, such as slightly improving credit conditions, more jobs and slower price growth.”

Yun also points to more favorable conditions for traditional buyers entering the market. All-cash sales and sales to investors are both down from a year ago, creating less competition and some relief for buyers who still face the challenge of limited homes available for sale.

“All indications point to modest sales gains as we head into the spring buying season,” says Yun. “However, the pace will greatly depend on how much upward pressure the impact of low inventory will have on home prices. Appreciation anywhere near double-digits isn’t healthy or sustainable in the current economic environment.”

The PHSI in the Northeast inched 0.1 percent to 84.9 in January, and is now 6.9 percent above a year ago. In the Midwest the index decreased 0.7 percent to 99.3 in January, but is 4.2 percent above January 2014.

Pending home sales experienced the largest increase in the South, up 3.2 percent to an index of 121.9 in January (highest since April 2010) and are 9.7 percent above last January. The index in the West rose 2.2 percent in January to 96.4 and is 11.4 percent above a year ago.

Total existing-homes sales in 2015 are forecast to be around 5.26 million, an increase of 6.4 percent from 2014. The national median existing-home price for all of this year is expected to increase near 5 percent. In 2014, existing-home sales declined 2.9 percent and prices rose 5.7 percent.

Copyright© 2015 RISMedia

REALTORS® Complete 1,100 Written Real Estate Contracts

… and 600 Closed Sales in January

Naples, Fla. (February 20, 2015) – The Naples area housing market is off to a solid start according to broker analysts who evaluated the January 2015 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). Inventory declined a moderate 5 percent from 4,776 homes in January 2014 to 4,515 homes in January 2015, and overall closed sales in every price category above $300,000 increased by double digits in the 12-months ending January 2015. Overall median closed price increased 13 percent to $273,000 in the 12-months ending January 2015 from $242,000 in the 12-months ending January 2014.

As typically seen during the first three months of the year, cash sales are also on the rise. In January, the 394 cash sales reported accounted for 70 percent of home sales transactions in the Naples area. The report also showed sales of foreclosed homes in January were at their lowest – 64 – since NABOR® began reporting home sales activity in July 2009 when foreclosures numbered 240.

According to the report, pending sales, based on signed real estate contracts, for single family homes in the $1 to $2 million category increased 53 percent from 36 pending sales in January 2014 to 55 in January 2015, while in the same price category in the condominium market, pending sales decreased 22 percent from 36 in January 2014 to 28 pending sales in January 2015. Not surprisingly, the inventory for condominiums in this $1 million to $2 million category had the largest decline too at 26 percent.

As pointed out by several broker analysts during NABOR®’s 2014 annual media conference on January 16^th, buyers looking for single family homes in 2015 will be pleased. In fact, according to Cindy Carroll, SRA, with the real estate appraisal and consultancy firm of Carroll & Carroll, Inc., affordable single-family homes are not appreciating out of control, as often speculated. “The median closed price for single-family homes in the $300,000 and below category increased 16 percent from January 2013 to January 2014. Yet the January report showed an increase of only 8 percent from $178,000 in January 2014 to $193,000 in January 2015.”

The NABOR® January 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® January 2015 sales statistics are presented in chart format, including these overall (single-family and condominium) findings:

• Overall pending sales decreased 1 percent from 1,117 in January 2014 to 1,103 in January 2015.
• Pending sales for single-family homes increased 5 percent from 510 in January 2014 to 536 in January 2015.
• Pending sales for condominiums in the $300,000 to $500,000 category increased 51 percent from 82 in January 2014 to 124 in January 2015.
• Overall closed sales decreased 1 percent from 9,835 in the 12-months ending January 2014 to 9,759 in the 12-months ending January 2015.
• Overall closed sales for single-family homes in the $2 million and above category increased 37 percent from 213 in the 12-months ending January 2014 to 292 in the 12-months ending January 2015.
• Overall median closed price increased 13 percent from $242,000 in the 12-months ending January 2014 to $273,000 in the 12-months ending January 2015.
• Overall inventory decreased 5 percent from 4,776 homes in January 2014 to 4,515 homes in January 2015.
• Average days on market for January 2015 were 85.

According to the report, the inventory of homes for sale in the $300,000 and below category in January 2015 encompassed about 33 percent of the market at 1,479 units. And while overall inventory fell 5 percent from 4,776 in January 2014 to 4,515 in January 2015, the $300,000 and below category experienced the largest drop in inventory (-24%) from 1,938 in January 2014 to 1,479 in January 2015. Despite a sinking of inventory in the $300,000 and below price category, there were increases in inventory in three other price categories: $330,000 to $500,000 increased 15 percent; $500,000 to $1 million increased 8 percent; and $2 million and above increased 12 percent from January 2014 to January 2015.

Luxury Market Gains Momentum in 2014

Nabor Market Report | A service from the Naples Area Board of REALTORS®
Naples, Fla. (January 16, 2015)

Overall closed sales for homes in every price category above $300,000 saw double digit increases in 2014. As a result, broker analysts contend that 2014 was one of the best years in Naples real estate history for closed sales. According to the Annual 2014 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), inventory increased 16 percent for homes in the $2 million and above price category from 394 in 2013 to 457 in 2014. The report also showed that overall closed sales in this luxury market price category increased 33 percent from 299 homes in 2013 to 399 homes in 2014, yet the overall median home price in this price category held steady year over year at $2,950,000.

While closed sales stood firm at a 3 percent increase for condominiums in 2014, inventory in the condominium market did not fare as well as single family home inventory in 2014. The report indicated a 14 percent decrease in condominium inventory from 2,354 in 2013 to 2,030 in 2014. The only price category that experienced an increase in inventory was the $300,000 to $500,000 price category. It increased 13 percent from 408 condominiums in 2013 to 462 condominiums in 2014. Broker analysts indicate that this increase in inventory may be due, in part, to bracket creep, which is what happens when a home’s value increases to a point that it surpasses its current category’s threshold and advances into the price category above it. The fact that inventory for condominiums in the $300,000 and below price category decreased 23 percent is further evidence of the bracket creep.

The NABOR® Annual 2014 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® Annual 2014 sales statistics are presented in chart format, including these overall (single-family and condominium) findings:

• Overall pending sales decreased 5 percent from 11,065 in 2013 to 10,494 in 2014.
• Pending sales for single family homes in the $2 million and above price category increased 28 percent from 249 in 2013 to 319 in 2014.
• Pending sales for condominiums in the $1 million to $2 million category increased 11 percent from 262 in 2013 to 292 in 2014.
• Overall closed sales increased 1 percent from 9,723 in 2013 to 9,826 in 2014.
• Overall closed sales for homes in the $1 million to $2 million category increased 21 percent from 516 in 2013 to 623 in 2014.
• Overall closed sales for homes in the $2 million and above category increased 33 percent from 299 in 2013 to 399 in 2014.
• Overall median closed price increased 13 percent from $240,000 in 2013 to $270,000 in 2014.
• Overall inventory decreased 6 percent from 4,614 homes in 2013 to 4,351 homes in 2014.
• Average days on market for 2014 was at 82.

The term REALTOR® is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribe to its strict Code of Ethics.

• View December 2014 Market Statistics – PDF
• View 4Q 2014 Market Statistics – PDF
• View Annual 2014 Market Statistics – PDF
• To view the entire report, visit www.NaplesArea.com