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

NAPLES

Single Family Homes

  • The quarter-over-quarter (QoQ) rolling 12 month median price increased slightly over the same period in 2016 to $412,506 while the QoQ rolling 12 month average price rose to $740,833, up 3.5% from the end of Q3 2016.
  • There were 959 single family closings during the third quarter, down from 1075 in Q3 2016.
  • Months-of-supply at the end of the quarter stands at 6.6 months, approximately the same as this time last year.

Condominiums

  • The QoQ rolling 12 month median price increased 3.9% over the same period last year, while the rolling 12 month average price is $419,963, up 4.9% from the end of Q3 2016.
  • There were 902 closings in Q3 2017 compared to 930 in Q3 2016.
  • Months-of-supply at the end of the quarter did not change from the same period a year ago and stands at 6.2 months.

 

BONITA SPRINGS AND ESTERO

Single Family Homes

  • The QoQ rolling 12 month median price was similar to the third quarter last year at $396,563 while the rolling 12 month average price rose 4.5% to $526,565.
  • There were 290 closings during the quarter compared to 343 in Q3 2016.
  • Months-of-supply at the end of the quarter stands at 5.3 months, down from 6 months at the same time last year.

Condominiums

  • The QoQ rolling 12 month median price was $240,135 at the end of Q3 2017, a decrease of 2.5% from the same quarter last year. The QoQ 12 month average price was down 2.4% to $301,580.
  • The number of condominium closings during the third quarter declined to 273 compared to 333 during Q3 2016.
  • Months-of-supply at the end of the quarter stands at 5.4 months compared to 5.6 months at the same time last year.

 

MARCO ISLAND

Single Family Homes

  • The QoQ rolling 12 month median price was up 5.4% over last year at $765,000, while the rolling 12 month average price for the period was static with last year at $915,074.
  • The number of closings in Q3 declined to 76 compared to 90 for the third quarter 2016.
  • Months-of-supply at the end of the quarter stands at 9 months, a decline of 11.4% year-over-year.

Condominiums

  • The QoQ rolling 12 month median price was up 9.4% over last year at $423,125, while the 12 month average price increased slightly to $536,066.
  • There were 74 closings during the third quarter, down from 107 in Q3 2016.
  • Months-of-supply at the end of the quarter stands at 8.1 months, the same as this time last year.

 

“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.”