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Naples Florida Monthly Real Estate Market Update – March 2017

Naples Florida Real Estate Market News –
March 2017

12 Month Comparisons as of February 28, 2016

CLOSED SALES

  • The number of closed sales during the month of March increased by 13% over March 2016. This marks the third consecutive month of year-over-year increases.
  • Year-to-date closed sales for Naples, Bonita Springs and Estero are up 12%, with 2,990 closings vs. 2,666 during the same period in 2016.
  • Closed sales priced above $2 million increased 10% during the first three months of 2017 with 117 sales, up from 106 sales in 2016.

 

NEW LISTINGS/INVENTORY

  • Available inventory on April 1, 2017 consisted of 8,013 units, an increase of 15% over April 1, 2016. This represents 8.1 months of supply based on the number of closings during the past 12 months.
  • During the 12 months ending March 31, 2017 there were a total of 20,155 new listings added to the market, an increase of 4% over the period ending March 31, 2016.

 

AVERAGE AND MEDIAN SALES PRICE

  • The average sales price year-to-date is $558,821, approximately the same as it was for this period in 2016 when it was $554,163. Median sales price is up 2% for the period.
  • During the month of March 2017, average sales price was static with March 2016 and median price increased approximately 2%.

 

MARCO ISLAND 

CLOSED SALES

  • The number of closed sales on Marco Island year-to-date jumped by 26% to 234, up from 186 sales a year ago.
  • During the past 12 months, sales pace remained stable with 891 closings, down less than 2% from the 12 months ending March 31, 2016.

 

NEW LISTINGS/INVENTORY

  • Available inventory on Marco Island on April 1, 2017 consisted of 784 units compared to 808 units last month.
  • During the 12 months ending March 31, 2017, a total of 1,445 new listings were added to the market. This is comparable to the same period last year when there were 1,451 new listings added.

 

AVERAGE AND MEDIAN SALES PRICE

  • Average price of closed sales during the month of March rose 8.4% year-over-year, while median price was up 8.6%.
  • The 12-month average price rose 5.3% from $722,788 on March 31, 2016 to $761,442 on March 31, 2017.

 

“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.”