The five-month streak in which sales declined has been snapped with U.S. existing-home sales rising from a 13-year low, climbing 0.8% from the previous month according to the National Association of REALTORS® (NAR).  Although sales were down 7.3% year-over-year, most of the closed sales went under contract in October when mortgage rates were higher than in the last two decades. The median sales price increased 17.3% to $762,500 for single family homes and 5.1% to $472, 656 for condos.

Overall, in Bonita Springs the average sales price increased 6.2% year over year with the year averaged sales price of $843,795. This was a 71.45% increase from 2018. In terms of inventory, Bonita had a steady sales volume with 1,794 homes closed in 2023. In Estero, there was an 8.3% average sales price increase year-over year and an 89.67% increased sales price from 2019 to $646,895. In 2023, Estero had 1,217 closed sales happen which was a reduction from previous years. The average sales price for both Bonita Springs & Estero combined increased 7.8% year-over-year to $738,397.

Naples Market Update

According to Redfin, in December 2023Naples home prices were up 22.1% compared to last year, selling for a median price of $800K. On average, homes in Naples sell after 38 days on the market compared to 29 days last year. There were 132 homes sold in December this year, down from 148 last year.

---

*December 2023 Compared with December2022 (percent reporting using rounded figures)

If you’d like to learn more about what community is right for you or anything about what’s happening the the Naples real estate market, contact Kevin at Office @knowledgebasefl.com or give him a call/text at 239.977-5642.

Photo Credit: Bonita Springs & Estero & Naples Board of Realtors