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Naples Florida Monthly Real Estate Market Update – April 2017

Naples Florida Real Estate Market News –
April 2017

12 Month Comparisons as of March 31, 2016

CLOSED SALES

  • The number of closed sales year-to-date for Naples, Bonita Springs and Estero increased 7% year-over-year.
  • Closed sales priced above two million increased 5% through April compared to the same period in 2016. During the past 12 months, sales in this category decreased 13% (387 vs. 445).

 

NEW LISTINGS/INVENTORY

  • Available inventory on May 1, 2017 consisted of 7,571 units, an increase of 11% over May 1, 2016. This represents 7.7 months of supply based on current absorption rates.
  • During the 12 months ending April 30, 2017, a total of 19,826 new listings were added to the market, approximately the same as the prior 12 months ending April 30, 2016.

 

AVERAGE AND MEDIAN SALES PRICE

  • Year-to-date average sales price for the area remained approximately the same as prior year at $568,638, up less than 2%.
  • Average sales price during the month of April was static with prior year (up less than 2%), while median price for the month increased 3% over April 2016.

 

MARCO ISLAND 

CLOSED SALES

  • During the 12 months ending April 30, 2017, the Marco Island area had 907 closings, up 3.3% from the same period last year when there were 878 closings.
  • The number of closed sales year-to-date increased 24% over prior year to 335 vs. 271 in 2016.

 

NEW LISTINGS/INVENTORY

  • Available inventory on May 1, 2017 for the Marco Island market consisted of a total of 765 units compared to 797 units last month. This represents 9.4 months of supply for condominiums and 10.75 months of supply for single family homes.
  • During the 12 months ending April 30, 2017 there were a total of 1,446 new listings added to the Marco Island market. This is unchanged from the same period last year when there were 1,449 new listings added.

 

AVERAGE AND MEDIAN SALES PRICE

  • Average price of closed sales during the month of April was unchanged year over year, while the median price was up 8.3%.
  • The twelve month average sales price rose 7.1% over the prior 12 months, from $711,138 to $761,745.

“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.”