Naples real estate market update for homes – April

Median Sold Price for homes increased 18.4% since last April – from $362,500 to $429,173.

Naples homes sold during 2016 have a Median Sold price of $401,298. Last year the median sold price was $365,000. The median sold price has increased 9.9%.

Naples homes for sale was 3,027 down from the previous month’s 3,101.

Last April there was 2,346 homes for sale, which is less than this year.

The median sold price for a home in Naples is 15.4% less than in 2005 which was the peak of the market. In 2005, the median sold price was $474,450. This year the median sold price has been $401,298.

The median sold price for a home bottomed in 2009 at $195,000. In 2016, the median sold price has been $401,298. This represents an increase of 105.8% from the bottom of market.

The graph below shows the median sold price for homes by year from 2005 to 2016.

The median sold price comparing 2016 to 2015 has increased 9.9%. The percentage of price increase for 2015 was 11.3% compared to 2014 at 17.1%, and 2013 at 17.4% over the previous years. A slow down in the percentage of the median price sold price.

(The median sold price is the middle price, where half of the sales are of lower value and half are of higher value.)

Distressed single-family home properties (potential short sales and foreclosures) – 48 representing 1.6% of the total market – 16 (0.5%) are potential short sales and 32 (1.1%) are foreclosed or REO (real estate owned) properties.

In April 472 homes were sold, while last April 583 were sold.

The 3,027 homes for sale represent about 7.3 months of listings to be sold; it was 5.4 months at the end of last April.

Below is a table showing the number of homes for sale and months of inventory by price range. Red indicates a seller market, yellow represents a neutral market, and green represents a buyers market by price range.

The table below compares the months of inventory in April of 2016 to March 2016 and April of each of the 3 preceding years.

During April, 721 homes came on the market for sale; last April 616 homes were listed for sale.

538 homes had offers accepted compared to last April’s 555 pending sales.

Other detailed market reports are available for – Naples condos, Bonita Springs homes, Bonita Springs condos, Estero homes, and Estero condos by clicking on the appropriate link.

In case you missed last month’s report – click on this link – Naples Homes Market Update.

The data was obtained from the SWFLAMLS a collaborative effort of the multiple listing services of Naples, Bonita Springs/Estero, Fort Myers, and Cape Coral.

Your questions and comments are always welcome.

This post - Naples Homes Market Trends – April 2016 first appeared on Naples Real Estate Blog - News and Market Trend Statistics.