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MARKET REVIEW – 3rd Quarter 2016 – Naples / Bonita Springs / Estero / Marco Island

 NAPLES SINGLE FAMILY HOMES

  • The year-to-date median sales price remained stable when compared to the same period in 2015. Average sales price dropped 12.5% to $622,318.
  • There were 1,050 single family home closings during the third quarter, down 11% from Q3 2015.
  • Months of supply at the end of the third quarter stands at 7.2 months, down from 9.7 months at the end of Q2 2016 and up from 4.5 months for the same period in 2015.

NAPLES CONDOMINIUMS

  • The average price paid for condominiums through the third quarter increased 8% over the same period a year ago to $372,000. Median price for the period was up 2.5% at $240,000.
  • There were 914 condominium closings in the third quarter, an 18% decline from Q3 2015.
  • Months of supply is 6.1 months, down from 7.8 months at the end of Q2 and up from 3.2 months at the end of Q3 2015.

Market Report Q3 2016.indd

 BONITA SPRINGS/ESTERO SINGLE FAMILY HOMES

  • The average price paid for a single family home through the end of the third quarter is $440,339, a 9.2% decrease from a year ago. Median price was up 4.8% over the same period to $368,000.
  • During the third quarter, there were 332 single family home closings, down from 350 in Q3 2015.
  • Months of supply is 6 months, down from 9.7 months at the end of Q2 and an increase from 4.1 months a year ago.

 BONITA SPRINGS/ESTERO CONDOMINIUMS

  • Average condominium price through the first 9 months is $283,449, down 6.5% from an average of $303,285 for the same period a
  • There were 325 closings during the third quarter, 8 fewer than Q3 2015. year ago. Median price was approximately the same as last year at $234,800, a decline of 2%.
  • Months of supply is 5.6 months, up from 2.7 months at the end of Q3 2015.

Market Report Q3 2016.indd

 MARCO ISLAND SINGLE FAMILY HOMES

  • The average sales price at the end of Q3 was $843,834, consistent with a year ago. Median price was $645,000 which represents less than a 2% increase over prior year.
  • There were 90 closings of single family homes during the third quarter, a 14% increase over Q3 2015 when there were 79.
  • Months of supply is 10.2 months at the end of Q3 2016, up from 7.7 months at this time in 2015

 MARCO ISLAND CONDOMINIUMS

  • Condominium average price was up 8.5% compared to the same period in 2015 at $594,579. Median price declined 9% year-over-year to $350,000.
  • There were 107 closings during the third quarter 2016 vs. 123 for the same period in 2015.
  • Months of supply is 8.1 months, up from 4.6 months a year ago.

Market Report Q3 2016.indd

“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.”