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Naples Florida Monthly Real Estate Market Update – October 2016

Naples Florida Real Estate Market News –
October 2016

12 Month Comparisons as of October 31, 2016

Monthly Market Report Oct 2016-new.indd

Monthly Market Report Oct 2016-new.indd

CLOSED SALES

  • During the 12 months ending October 31, 2016, the Naples, Bonita Springs and Estero market had a total of 11,528 closings, 13% lower than the prior 12-month period when there were 13,258. (Ex 1a) The price segment between $500,000 and $1 million remained relatively stable, showing less than a 3% decrease.
  • Year-to-date closed sales for Naples, Bonita Springs and Estero were 9,749 vs. 11,314 YTD 2015. This represents a 14% sales pace reduction from last year.
  • 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 18% (385 vs 472).

 

NEW LISTINGS/INVENTORY

  • Available inventory on November 1, 2016 for the Naples, Bonita Springs and Estero markets consisted of 6,537 units, up from 6,081 units last month and a 31% increase over November 1, 2015.
  • During the 12 months ending October 31, 2016, there were 20,124 new listings added to the Naples, Bonita Springs and Estero market, an 8.8% increase over the same period 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 October was slightly lower year-over-year, while median closed price is up 4% for the month.
  • Average sales price over the past 12 months remianed approximately the same as the prior 12 months at $519,491. (Ex 2a)
  • Average price of sales above $2 million fell 4.7% over the past 12 months, from $3,872,674 to $3,691,985.

 

MARCO ISLAND 

CLOSED SALES

  • During the 12 months ending October 31, 2016, the Marco Island area had 827 closings, down from 992 closings for the same period last year. (Ex 1b)
  • There were 713 closed sales year-to-date on Marco Island, down from 868 sales during the same period in 2015.

 

NEW LISTINGS/INVENTORY

  • Available inventory on November 1, 2016 for the Marco Island market consisted of 662 units compared to 629 units last month.
  • During the 12 months ending October 31, 2016, there were 1,514 new listings added to the Marco Island market. This represents a 10.8% increase over the same period last year when there were 1,366 new listings added.

 

AVERAGE AND MEDIAN SALES PRICE

  • Average price of closed sales in the Marco Island market during the month of October remained consistent with October 2015, decreasing less than 2%. Median price for the month increased 5%.
  • Average sales price over the past 12 months also remained stable at $726,000 vs. $738,000 a year ago. (Ex 2b)

 

“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.”