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Naples Florida Monthly Real Estate Market Update – June 2016

Naples Florida Real Estate Market News –
June 2016

12 Month Comparisons as of June 30, 2016

Monthly Report JUNE 2016.indd

Monthly Report JUNE 2016.indd

CLOSED SALES

  • There were a total of 6,178 closed sales during the first six months of 2016, down from 7,458 closings during the same period 2015.
  • During the past 12 months, the price segment showing the largest decline in number of sales is properties priced below $250,000, down 24% (4,087 vs. 5,395).
  • Over the past 12 months, the number of sales priced above $2 million declined 5% over the prior 12 month period with 72 sales vs. 88 in the prior year.

 

NEW LISTINGS/INVENTORY

  • Available inventory on July 1, 2016 consisted of 6,274 units, up 39% from July 1, 2015.
  • The current supply of product is comprised of 2,894 condominiums and 3,380 single family homes. All price ranges posted inventory increases with the exception of single family homes priced below $250,000. The largest gains over prior year were condominiums priced between $1 million and $2 million, up 100% and those priced above $5 million, up from 7 units a year ago to 16 units on July 1, 2016.
  • The number of properties currently available for purchase represents 6.4 months of supply based on the number of closings in the past 12 months.

 

AVERAGE AND MEDIAN SALES PRICE

  • The average price of closed sales year-to-date remains approximately the same as the first six months of 2015, up less than 2%. Median price increased 6.5% year-over-year.
  • Properties priced above $2 million followed the overall market trend, with average price remaining static year-over-year.

“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS. Copyright 2016 Southwest Florida MLS. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it.  Naples Florida Monthly Real Estate Market Update is provided by Dustin Beard.”