Naples-Bonita Springs-Estero Real Estate Report! March 25, 2023
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Naples-Bonita Springs-Estero Real Estate Report
Real Estate News
List Price – What does it really mean?
- Is the List Price of a property necessarily a “true” value of that property? No
- Does the List Price mean that the property will sell at a price near the asking price? No
- Will a grossly overpriced property sell? Not likely in today’s market
The List Price sometimes doesn’t really mean anything. It may only be a price at a Seller’s “wishful thinking” or just an arbitrary number. The present real estate market is going to tell you what property is worth. You can obtain this information in a Comparative Market Analysis provided by your real estate professional.
Bonita Springs-Estero Real Estate Market – Bonita Springs-Estero REALTOR® (BER®) released the February Market Report. Here are a few interesting observations:
- Single-family home median sales prices decreased from $750,000 in January to $745,783 in February
- Single-family home inventory increased from 322 in January to 348 properties in February
- Condo median sales price decreased from $509,950 in January to $445,000 in February
- Condo inventory increased from 305 in January to 338 properties in February
Naples Area Real Estate Market – Naples Area Board of REALTOR® (NABOR®) released the February Market Report. Here are a few interesting observations:
- February’s overall median home price remained same as January at $600,000
- Closed and pending sales increased in February over January
- February new listings were down 2% compared to January
- Days on Market increased by one day in February from a month earlier
- Unlike most of the Unites States, over 60% of closings are cash sales
For details, trends, and year-to-date Naples area market statistics, check out the Naples Area Market Report. It is important to note that these statistics can vary significantly for each community.
Video: February 2023 Market Report
Highlights from the February 2023 Market Report compared to February 2022:
| Categories | February 2022 | February 2023 | Change |
|---|---|---|---|
| Total showings (month/month) | 43,032 | 35,574 | -15.0% |
| Total closed sales (month/month) | 824 | 682 | -17.2% |
| Total pending sales (homes under contract) (month/month) | 1,480 | 1,231 | -16.8% |
| Median closed price (month/month) | $550,000 | $600,000 | 9.1% |
| New listings (month/month) | 1,294 | 1,303 | 0.7% |
| Total active listings (inventory) | 1,225 | 2,835 | 131.4% |
| Average days on market | 24 | 55 | 129.2% |
| Single-family closed sales month/month) | 442 | 365 | -17.4% |
| Single-family median closed price (month/month) | $655,500 | $725,000 | 10.6% |
| Single-family inventory | 749 | 1,649 | 120.2% |
| Condominium closed sales (month/month) | 382 | 317 | -17.0% |
| Condominium median closed price (month/month) | $425,000 | $495,000 | 16.5% |
| Condominium inventory | 476 | 1,186 | 149.2% |
About Our Company
MVP Realty Associates, LLC – MVP Realty is a Naples based real estate company with agents and offices located throughout Florida:
- $2.429 billion in home sales and 6,329 closed transactions in 2022
- One of the largest real estate companies in Florida
- In the top 500 out of 106,548 brokerage firms in the United States for sales volume and number of transactions
- The #2 real estate company in SWFL
- More than 20 offices across Florida
- Over 1,200 agents who will help market your property to prospective Buyers
- Brokers have 80+ years of broker experience
- Best agent training, technology and tools in the industry
