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Naples Florida Monthly Real Estate Market Update – June 2017

Naples Florida Real Estate Market News –
June 2017

12 Month Comparisons as of May 31, 2016

CLOSED SALES

  • The number of closed sales year-to-date for Naples, Bonita Springs and Estero increased 9.6% year-over-year.
  • Closed sales priced above $2 million increased 28.8% through June compared to the same period in 2016 (295 vs. 229). During the past 12 months sales in this category are up 4% over the 12 months ending June 30, 2016 (439 vs. 422).

 

NEW LISTINGS/INVENTORY

  • Available inventory on July 1, 2017 consisted of 6,443 units, an increase of less than 3% over July 1, 2016. This represents 6.4 months of supply based on current absorption rates.
  • During the 12 months ending June 30, 2017 a total of 19,006 new listings were added to the market, a decrease of 5% from the prior 12 months ending June 30, 2016.

 

AVERAGE AND MEDIAN SALES PRICE

  • Year-to-date average sales price for the area increased 4.5% to $568,663 up from $544,231 for the same period in 2016. Median closed price is approximately the same as last year at $328,500.
  • Average price of sales above $2 million fell 4% over the past 12 months to $3,674,253.

 

MARCO ISLAND 

CLOSED SALES

  • During the 12 months ending June 30, 2017, the Marco Island area had 745 closings, down 12% from the same period last year when there were 849 closings.
  • The number of closed sales year-to-date decreased 21% over prior year to 372 vs. 470 through June 2016.

 

NEW LISTINGS/INVENTORY

  • Available inventory on July 1, 2017 consisted of 681 units, down from 723 last month.
  • During the 12 months ending June 30, 2017, a total of 1,408 new listings were added to the Marco Island market. This represents a 5% reduction from the same period last year when 1,482 new listings were added.

 

AVERAGE AND MEDIAN SALES PRICE

  • Average price of closed sales during the month of June was down 11% year-over-year, while the median price was consistent with the same period in 2016.
  • The 12-month average closed price rose 5% over the prior 12 months, from $723,453 to $759,593.

 

“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.”