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Naples Florida Monthly Real Estate Market Update – August 2016

Naples Florida Real Estate Market News –
August 2016

12 Month Comparisons as of August 31, 2016

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CLOSED SALES

  • During the 12 months ending August 31, 2016, the Naples/Bonita Springs and Estero market had a total of 11,713 closings, 12% lower than the prior 12-month period when there were 13,280. (Ex 1a)
  • Year-to-date closed sales for Naples/Bonita Springs and Estero were 8,068 at an average price of $529,228 vs 9,448 at an average price of $529,539 YTD 2015. This represents a 15% sales pace reduction from last year, with pricing stable.
  • Closed sales priced above $2 million year-to-date fell 23% for the Naples/Bonita Springs and Estero market, when compared to the same period in 2015. During the past 12 months, sales in this price category are down 14% (399 vs 462).

 

NEW LISTINGS/INVENTORY

  • Available inventory on September 1, 2016 for the Naples/Bonita Springs and Estero markets consisted of 5,839 units, down from 5,991 units last month and up from 4,198 units a year ago.
  • During the 12 months ending August 31, 2016 there were a total of 19,736 new listings added to the Naples/Bonita Springs and Estero market which is 6% more than the same period ending in 2015. (Ex 1a)

 

AVERAGE AND MEDIAN SALES PRICE

  • Average price of closed sales in the Naples/Bonita Springs and Estero market during the month of August was the same year-over-year, while median closed price is up 6.7%.
  • Average price of sales above $2 million has remained approximately the same over the past 12 months, decreasing less than 2% to $3,793,159.

 

MARCO ISLAND 

CLOSED SALES

  • During the 12 months ending August 31, 2016, the Marco Island area had 850 closings, down 13.4% from the same period last year when there were 982 closings. (Ex 1b)
  • Year-to-date closed sales for Marco Island total 599, at an average price of $699,269, vs 805 closed sales YTD 2015 at an average price of $707,234. This represents a reduction in sales volume of 25% and relatively stable pricing year-over-year.

 

NEW LISTINGS/INVENTORY

  • Available inventory on September 1, 2016 for the Marco Island market consisted of a total of 641 units, compared to 617 units last month.
  • During the 12 months ending August 31, 2016 there were a total of 1,504 new listings added to the Marco Island market. This represents a 9.6% increase over the same period last year when there were 1,372 new listings added. (Ex 1b)

 

AVERAGE AND MEDIAN SALES PRICE

  • Average price of closed sales in the Marco Island market during the month of August rose a modest 1.1% year over year, while the median pricing was up 4.82% from the same period last year.

*The new Marco Island statistics have been obtained from the Marco Island MLS system and include only those sales and current listings on Marco Island and Key Marco.

“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.”