Listings are not lasting long,” said Mike Hughes, Vice President/General Manager of Downing-Frye Realty. “At the end of last year, our company had 1,192 listings. Six months later at the end of June we had 1,168 listings and 2,417 closings. We passed the $ Billion mark in closed sales earlier this year than normal, and we’re three percent ahead of where we were a year ago. This is going to be a remarkable year for sales – one of our best ever.
NAPLES: RECORD BREAKING SALES
Naples area overall inventory is almost the same number as it was this time last year. That is amazing when you consider the fact that NABOR’s reports indicate 9,850 closings over the last twelve months.
Overall, this tells you that properties are being listed almost as fast as they are being sold. Certainly we would like to see more listings come on the market than the 3,698 properties that are currently listed,” said Mike Hughes.
“If there is a perception that inventory is dramatically shrinking, the 2Q Market Report shows us that this observation is unfounded. It indicates only a one percent inventory decrease over the last twleve months.”
- Overall closed sales remained flat with no increase or decrease reported in the 12-months ending June 2015.
- Overall median closed price increased 14 percent from $255,000 in the 12-months ending June 2014 to $290,000 in the 12-months ending June 2015.
- Overall inventory decreased 1 percent from 3,723 homes in June 2014 to 3,698 homes in June 2015.
- Average Days on market decreased 22 percent from 94 days in June 2014 to 73 days in June 2015.
BONITA /ESTERO: HIGHER AVERAGE LISTING PRICE
– Active number of listings has decreased to 688 in June 2015 from 794 in June 2014.
– Average listing price: June 2015 = $621,000
– Average listing price: June 2014 = $464,000
– The sales volume (sum of prices) for all residential properties closed during June 2015 was $79.5 million, compared to $86.6 million during June 2014.
FLORIDA: MORE SALES, HIGHER PRICES
Florida’s housing market reported more closed sales, higher median prices and tightening inventory in June. Closed sales of existing single-family homes statewide totaled 27,729 last month, up 19.6 percent over June 2014. Statewide closed sales in the townhouse-condo market rose last month with a total of 10,991, up 14.6 percent compared to June 2014. The statewide median sales price for single-family existing homes last month was $203,500, up 10 percent from the previous year, and for townhouse-condo properties in June was $152,076, up 7.9 percent over the year-ago figure.
NATIONWIDE: HOME SALES RISE
Pending home sales continued to rise in May and are now at their highest level in over nine years. Lawrence Yun, chief economist for the National Association of Realtors (NAR), says contract activity rose again in May for the fifth straight month, increasing the likelihood that home sales are off to their best year since the downturn. “The steady pace of solid job creation seen now for over a year has given the housing market a boost this spring,” said Yun. “It’s very encouraging to now see a broad based recovery with all four major regions showing solid gains from a year ago and new home sales also coming alive.”
Yun does warn that this year’s stronger sales amidst similar housing supply levels from a year ago have caused home prices to rise to an unhealthy and unsustainable pace.
Sources: The Bonita Springs-Estero Assoc. of REALTORS®, Naples Area Board of REALTORS®, National Assoc. of REALTORS®, Florida REALTORS®
If your property is currently listed with another broker, this is not a solicitation of that listing.