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Naples Florida Monthly Real Estate Market Update – May 2017

Naples Florida Real Estate Market News –
May 2017

12 Month Comparisons as of April 30, 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 $2 million increased 25% through May compared to the same period in 2016. During the past 12 months, sales in this category are approximately the same as prior year (429 vs. 426).

 

NEW LISTINGS/INVENTORY

  • Available inventory on June 1, 2017 consisted of 6,910 units, an increase of 5% over June 1, 2016. This represents 6.9 months of supply based on current absorption rates.
  • During the 12 months ending May 31, 2017, a total of 20,292 new listings were added to the market, less than a 2% increase from the prior 12 months ending May 31, 2016.

 

AVERAGE AND MEDIAN SALES PRICE

  • Year-to-date average sales price for the area increased 4% to $575,780, up from $553,785 for the same period in 2016. Median price is approximately the same as last year at $330,000 for the period.
  • Over the past 12 months, the average sales price of properties above $2 million remained static with prior year at $3,806,276.

 

MARCO ISLAND 

CLOSED SALES

  • During the 12 months ending May 31, 2017, the Marco Island area had 754 closings, down 14% from the same period last year when there were 880 closings.
  • The number of closed sales year-to-date decreased 24% over prior year to 282 vs. 371 in 2016.

 

NEW LISTINGS/INVENTORY

  • Available inventory on June 1, 2017 consisted of 723 units, down from 765 units last month.
  • During the 12 months ending May 31, 2017, there were a total of 1,398 new listings added to the Marco Island market. This is a 5% reduction from the prior 12-month period when 1,473 new listings were added.

 

AVERAGE AND MEDIAN SALES PRICE

  • Average price of closed sales during the month of May was up 9% year-over-year while median price increased 3% for the period.
  • The 12-month average price increased 7% over the prior 12 months to $767,020, up from $715,879.

 

“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.”