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Naples Florida Monthly Real Estate Market Update – January 2017

Naples Florida Real Estate Market News –
January 2017

12 Month Comparisons as of December 31, 2016

CLOSED SALES

  • During January 2017 there were 774 closed sales in the Naples, Bonita Springs, Estero market vs. 798 in January 2016.
  • The number of closed sales priced above $2 million year-to-date fell 34% when compared to the same period in 2016. During the past 12 months, sales in this price category are down 26% (364 vs. 493).

 

NEW LISTINGS/INVENTORY

  • Available inventory on February 1, 2017 for the combined Naples, Bonita Springs, Estero market consisted of 8,091 units, up from 7,281 units last month, and an increase of 34% year-over-year.
  • During the 12 months ending January 31, 2017 there were a total of 20,393 new listings added to the market, a 7% increase over the same period in 2016.

 

AVERAGE AND MEDIAN SALES PRICE

  • Average price of closed sales in the Naples, Bonita Springs, Estero market during the month of January was $540,941, down 11% from January 2016. Median closed price is down 5%.
  •  Average price of sales above $2 million fell 2.4% over the past 12 months, from $3,832,508 to $3,740,781.

 

MARCO ISLAND 

CLOSED SALES

  • During the 12 months ending January 31, 2017, the Marco Island area had 854 closings, down 11.9% from the same period last year when there were 970 closings.
  • The number of closed sales for Marco Island during the month of January declined 18% from January 2016 (50 vs. 61). Sales volume was up 22% over January 2016. It should be noted that since this represents only one month, it is not indicative of a market trend.

 

NEW LISTINGS/INVENTORY

  • Available inventory on February 1, 2017 for the Marco Island market consisted of a total of 796 units compared to 755 units last month and 712 on February 1, 2016.
  • Months of supply on Marco increased to 11 months, up from 8.8 in 2016.

 

AVERAGE AND MEDIAN SALES PRICE

  • Average price of closed sales in January rose a modest 2.6% over January 2016, while the median price was up 5.2% from the same period last 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.”