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SECOND QUARTER MARKET REVIEW 2017 – Naples / Bonita Springs / Estero / Marco Island Market Area

NAPLES

Single Family Homes

  • The year-to-date median sales price at the end of the second quarter remained consistent with Q2 2016, while the average sales price increased 3% to $782,854.
  • The number of closings in Q2 2017 increased 7% over the same period in 2016 to 1386 closings, compared to 1290 during the second quarter 2016.
  • Months-of-supply at the end of Q2 stands at 6.9 months, down 4% from 7.2 months for the same period in 2016.

Condominiums

  • The year-to-date median sales price increased 9% over the second quarter of 2016, while average sales price was up 13% ($477,461 vs. $421,038).
  • A total of 1,572 condominium closings occurred in Q2 2017, up from 1,474 closings during the same period last year.
  • Months-of-supply at the end of Q2 stands at 6.5 months, up 10% from the 5.9 months at the end of Q2 2016.

 

BONITA SPRINGS AND ESTERO

Single Family Homes

  • Through the second quarter, median sales price decreased less than 2% over prior year, while the average sales price increased 8.7% to $557,752 during the same period.
  • There were 425 closed units during the second quarter, approximately the same as 2016 when there were 419.
  • Months-of-supply at the end of the quarter stands at 5.5 months, a year-over-year decrease of 9.8%.

Condominiums

  • Both median and average sales prices remained relatively stable year-over-year, with each declining approximately 3%. Median sales price at the end of the quarter is $246,568 and average price is $306,509.
  • The number of closings increased from 458 in Q2 2016 to 511 for the second quarter 2017.
  • Months-of-supply at the end of the quarter stands at 5.8 months vs. 5.9 months at the end of Q2 2016.

 

MARCO ISLAND

Single Family Homes

  • The year-to-date median sales price increased from $720,128 at the end of Q2 2016 to $733,815 in the current year. Average sales price for the period declined 5.5% to $946,587.
  • The number of single family closings increased 15% year-over-year to 135, up from 117 in Q2 2016.
  • Months-of-supply at the end of Q2 stands at 9.6 months, a decline of 16.5% from the same period in 2016 when there was an 11.5 month supply.

Condominiums

  • The median sales price year-to-date declined less than 4% from Q2 2016 to $415,525. Average sales price for the period increased 9.5% to $550,901.
  • There were 162 closings during the period vs. 167 during Q2 2016.
  • Months-of-supply at the end of the second quarter stands at 8.6 months, an increase of 15% over Q2 2016.

 

“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS. Copyright 2017 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.”