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Naples Florida Monthly Real Estate Market Update – February 2017

Naples Florida Real Estate Market News –
February 2017

12 Month Comparisons as of January 31, 2016

 

CLOSED SALES

  • During the 12 months ending February 28, 2017, the Naples, Bonita Springs and Estero market had a total of 11,689 closings, 9% lower than the prior 12-month period.
  • The number of closed sales year-to-date increased 7% over 2016 with 1,653 closings vs. 1,546 in 2016.
  • During the first two months of 2017, closings for properties priced above $2 million were down 10% from the same period a year ago. During the past 12 months, the number of closings in this price category were down 22%.

 

NEW LISTINGS/INVENTORY

  • Available inventory on March 1, 2017 for the combined Naples, Bonita Springs and Estero market consisted of 8,099 units, an increase of 18% over the prior year.
  • During the 12 months ending February 28, 2017, there were a total of 20,173 new listings added to the market, representing a 4% increase over the same period in 2016.

 

AVERAGE AND MEDIAN SALES PRICE

  • Average price of closed sales during February 2017 was 3% lower year-over-year, while the median price was relatively stable, posting a 1% decline.
  • Average sales price year-to-date is $538,275, a decrease of 8% from the same period in 2016. Median sales price remained stable with less than a 2% increase ($319,000 vs. $325,000).

 

MARCO ISLAND 

CLOSED SALES

  • During the 12 months ending February 28, 2017, the Marco Island area had 857 closings, down 9% from the prior year.
  • Year-to-date closings are up 12% from 2016 with 133 closed sales vs. 119 for the same period in 2016.

 

NEW LISTINGS/INVENTORY

  • Available inventory on March 1, 2017 increased by 25 units over February supply (808 units vs. 783).
  • During the 12 months ending February 28, 2017 there were a total of 1,428 new listings added to the Marco Island market. The supply of new listings is unchanged from the same period last year when there were 1,452 new listings added.

 

AVERAGE AND MEDIAN SALES PRICE

  • The average sales price of February 2017 closings increased 3% over February 2016, and median price was up almost 4% for the period.
  • Average sales price year-to-date through February increased slightly to $842,000 up from $750,500 in 2016.

 

“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.”