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Naples Florida Monthly Real Estate Market Update – August 2017

Naples Florida Real Estate Market News –
August 2017

CLOSED SALES

  • Year-to-date closed sales for Naples, Bonita Springs and Estero are up 9.3% year-over-year.
  • Closed sales priced above $2 million are up 25.8% through August compared to the same period in 2016 (351 vs. 279). Over the past 12 months ending August 31, 2017, sales in this category are up 11.6% (451 vs. 404).

 

NEW LISTINGS/INVENTORY

  • Available inventory on September 1, 2017 consisted of 6,125 units, an increase of 2% over last year. This represents approximately six months of supply based on current absorption rates.
  • During the 12 months ending August 31, 2017, there were a total of 20,430 new listings added to the market, an increase of less than 3% over the same period in 2016.

 

AVERAGE AND MEDIAN SALES PRICE

  • Year-to-date average sales price for the area increased nearly 4% over prior year at $551,065 compared to $531,034 at the end of August 2016. Median price remained similar to prior year at $325,000 compared to $320,000 for the period in 2016.
  • Average sales price of properties above $2 million remained approximately the same as last year at $3,811,400.

 

MARCO ISLAND 

CLOSED SALES

  • The number of sales year-to-date is up 6.9% with 650 closings vs. 608 for the same period in 2016.
  • During the 12 months ending August 31, 2017, the Marco Island area had 902 closings, up from 837 for the 12 months ending August 31, 2016.

 

NEW LISTINGS/INVENTORY

  • Available inventory on September 1, 2017, consisted of 644 single family homes and condominiums. This represents 8.6 months of supply based on current absorption rates.
  • During the 12 months ending August 31, 2017, there were a total of 1,297 new listings added to the market, down 12% from the prior 12 months.

 

AVERAGE AND MEDIAN SALES PRICE

  • Year-to-date average sales price remained static with prior year at $686,246 vs. $689,288 in 2016.
  • Over the 12 months ending August 31, 2017, the average price increased 4.8% to $714,524, while median price for the period was up 5.4% to $569,700.

 

“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.”