If you’re wondering how last year stacked up in terms of real estate here in Naples, this is the blog post for you. Let’s take a look at 2015 in review - a little look back may help you understand the market as we move ahead in 2016. 

 

What single word describes the 2015 real estate market?

 

In a word: Stable.

 

What price segments are moving fastest?

 

The $300,000 - $500,000 price category experienced the most dramatic increase in pending sales. Here, we saw a a solid 20% increase in sales over 2014. 

 

 

How about the condo market?

 

The condo market trend echoes the single-family home market. Closed sales for condominiums in the $300,000 to $500,000 price category increased 26 percent in 2015. 

 

What’s the story on home prices?

 

Here is where we see some real change at both ends of the market. Homes below $300,000 as well as those above $2 million saw sharp increases. Homes in the middle stayed relatively balanced, but the broad-brush picture shows a 14% increase in Naples home prices during 2015. 

 

Haven’t all the good properties been snapped up by now?

 

This question gets at our inventory of homes for sale. You may be surprised to know that the inventory for most price categories increased in 2015. 

 

Only the price segment below $300,000 saw a reduction in inventory. This impacts every geographic area of our market, most notably South Naples and East Naples. 

 

When we look at homes over $2 million, we see a 13% increase in inventory. 

 

Are homes still moving fast?

 

You bet. Desirable homes move quickly, especially in prime locations. Average days on the market decreased 10% in 2015…but the most notable change was in condominiums priced $2 million and above. Here, the average days on the market plummeted 40%. Buyers still need to be poised and ready to move when we spot a property that is right for them!

 

What’s going to happen in 2016?

 

While it’s true that no one can see around the next corner, we have just finished two great years for real estate in Naples. This area continues to be highly desirable. As I’ve said before in this blog…there’s Florida, and then there is Naples. Our area is highly desirable for those moving to Florida, and this only strengthens our market. 

 

 

 

Overall market activity in 2015 made great strides. We see a market that is stable and contributes to making Naples a wonderful place to live!