May 2015 Market Report
July 1, 2015 Posted by Matt
NABOR®’s May 2015 Market Report indicated closed sales for single family homes in the $300,000 to $500,000 price category, while impressive at an increase of 25 percent from 102 single family homes in May 2014 to 127 single family homes in May 2015, was not actually the highest performing price segment. It was closed sales for single family homes in the $1M to $2M price category that experienced the highest increase – 38 percent – from 32 single family homes in May 2014 to 44 single family homes in May 2015. Interestingly, closed sales in the $300,000 to $500,000 condominium market in May were also impressive with an increase of 38 percent from 79 condominiums in the 12-months ending May 2014 to 109 condominiums in the 12-months ending May 2015.
The NABOR® May 2015 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® May 2015 sales statistics are presented in chart format, including these overall (single-family and condominium) findings:
- Overall pending sales decreased 11 percent from 1,096 in May 2014 to 977 in May 2015.
- Overall closed sales remained flat for a second month with no increase or decrease reported on a 12-months ending basis.
- Closed sales for single family homes in the $300,000 to $500,000 price category increased 22 percent from 1,075 homes in the 12-months ending May 2014 to 1,316 homes in the 12-months ending May 2015.
- Closed sales for condominiums in the $300,000 to $500,000 price category increased 33 percent from 691 condominiums in the 12-months ending May 2014 to 922 condominiums in the 12-months ending May 2015
- Overall median closed price increased 15 percent from $252,000 in the 12-months ending May 2014 to $289,000 in the 12-months ending May 2015.
- Overall inventory decreased 3 percent from 3,919 homes in May 2014 to 3,800 homes in May 2015.
- Inventory for single-family homes in the under $300,000 price category decreased 34 percent from 465 single-family homes in May 2014 to 307 single-family homes in May 2015.
- Inventory for condominiums in the $2M and above price category increased 83 percent from 30 condominiums in May 2014 to 55 condominiums in May 2015.
- Average days on market decreased 21 percent from 95 days in May 2014 to 75 days in May 2015.
- There is only a 1.85-month supply of homes under $300,000.
