Stonebridge Country Club Naples Real Estate Market Report for November 2020

Like the rest of Naples, Florida, and the nation, the Stonebridge Country Club saw a 50% decrease in inventory and a very solid seller advantage market with only a little more than a 4 month supply of homes for sale. 4 single family homes and 5 condos went under contract in Stonebridge in November which represents a major increase over last year. Classic supply and demand aligns with what we are seeing in Stonebridge with the decrease in inventory, and unprecedented demand, we are seeing a steady increase in prices.

NEW LISTINGS

6 condos were listed for sale in Stonebridge Country Club in November, and no single family homes were listed. Overall, this was a 14% decrease compared to last month, and a 25% decrease compared to last year.

CLOSED SALES:

2 single family homes sold in Stonebridge in November, and no condos sold. This is an overall decrease of 33% compared to last month, and a 100% increase compared to last year when 1 condo sold.

AVERAGE DAYS ON THE MARKET:

This statistic is pretty out of whack this month since only 2 homes sold, one of which was only on the market for 1 day. Statistically, the average days on market in November was 13, which is an 88% decrease compared to last month, and a 95% decrease compared to last year.  That number can move around quite a bit if there are more sales next month which I completely expect.

CLOSED PRICES:

Since we are looking at a small number of sales, the median and average Closed Sale prices are essentially the same.  The median and average closed sale price was $610,500.00 which is a 171% increase compared to last month and a 77% increase compared to last year.

% OF LIST PRICE

This month the Sale Price represented 98.8% of the asking price, which is a 6% improvement over last month, and 4% over last year.

PENDING SALES

9 homes (4 single family homes and 5 condos) went under contract this month, which is an 800% improvement over last month, 350% above last year.

INVENTORY

There are currently 14 condos on the market in Stonebridge which overall is a 22% decrease compared to last month, and 50% less than last year

MONTHS SUPPLY

Those 14 condos represent 4.4 months, which puts us very solidly in a seller’s advantage market.  6 months supply is considered to be a balanced market, and anything less than 6 months supply is a seller’s market.  This is a 25% lower supply than last month, and a 48% decrease compared to last year.

IS IT A BUYER’S MARKET OR A SELLER’S MARKET IN STONEBRIDGE COUNTRY CLUB IN NORTH NAPLES FLORIDA?

Given the fact that the sellers are selling their homes very quickly when they put them on the market, and often for above asking price, and after multiple offers have come in, we are definitely in a Seller’s Market in Stonebridge Country Club. One of the easiest way to tell from outside the market what type of market we are experiencing is to look at the absorption rate, sometime just referred to as the month’s supply of homes. If there are less than a 6 month supply, we are in a seller advantage market, and conversely, if there are more than a 6 month supply, we are in a buyer’s market. A 6 month supply is a balanced market.

The absorption rate is calculated by dividing the current number of homes for sale, by the average number of homes that sell each month for the past 12 months. For example, if there are currently 12 homes for sale, and there were 36 homes sold in the past year: We calculate the absorption rate as follows: 36 / 12 = 3 which is the average number of homes sold each month over the past year. We take our current inventory and divide by 3: 12 / 3 =4, so we would have a 4 month supply, and a seller advantage market. Of course, the absorption rate assumes that no new inventory is added.

WHAT IS THE AVERAGE PRICE OF A HOME IN STONEBRIDGE COUNTRY CLUB?

Based on the last year, the average home price in Stonebridge is: $cccc overall, $xxx for a single family home, and $xxxx for a condo. Again, the “average” price ignores the absorption rate and whether we are in a buyer’s or seller’s market at the present time.

SHOWINGS TO PENDING

This statistic measures the number of showings needed to get an executed contract on a property.  Currently, we are looking at 15 showings overall until a property goes pending in Stonebridge.