January 26, 2016 Posted by Matt

Although the number of sales slowed down during the month of December, SWFL home prices continued to rise.  According to the latest reports by Naples Area Board of Realtors (NABOR), the overall median home price rose 12 percent from $289,000 to $325,000 when compared to the same time during the previous year.

Year-over-year, median home prices rose 14 percent from $270,000 to $308,000.  Prices saw double digit increases below the $300,000 price range rising 12 percent in 2015 versus 2014.  Prices increased in all 6 geographical locations that make up Collier County with the Imookalee and Ave Maria areas leading the way with a 42 percent increase.

Naples Beach, the most expensive area, saw a 15 percent increase in prices from $627,000 to $724,000.  Overall single family swfl home prices rose 11 percent and condos were up 14 percent.

Overall pending sales decreased 1 percent from 10,494 homes in 2014 to 10,371 homes in 2015.  Overall closed sales decreased 2 percent from 9,902 homes in 2014 to 9,746 homes in 2015.

Highlights for SWFL Home Prices in 2015:

• Pending sales for single-family homes in the $300,000 and below price category decreased 30 percent from 2,394 single-family homes in 2014 to 1,686 single-family homes in 2015.
• Closed sales for condominiums in the $300,000 to $500,000 price category increased 26 percent from 773 condominiums in 2014 to 972 condominiums in 2015.
• Overall median closed price increased 14 percent from $270,000 in 2014 to $308,000 in 2015.
• Overall inventory increased 2 percent from 4,351 in 2014 to 4,426 in 2015.
• Overall inventory in Central Naples (34104, 34105, 34116) decreased 37 percent from 853 homes in 2014 to 540 homes in 2015.
• There is a 5.42 months supply of inventory.
• Average days on market decreased 10 percent from 87 days in 2014 to 78 days in 2015.
• Average days on market for condominiums in the $2 million and above price category decreased 40 percent from 136 days in 2014 to 82 days in 2015.

View Annual Report

As we begin season with a strong outlook for the market in 2016, it is a great time to sell your home and trade up.  Or perhaps you’re looking to downsize.  Whichever situation your in, now is the ideal time to list your home.  Fore a FREE market analysis of your home, contact me at 239-370-0892.

Or, are you considering buying a home in Naples, FL?  Or maybe Bonita Springs? Interest rates are still slow and good deals are still to be had for homes and condos in our area.  Let me be your guide.

About Matt Klinowski
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