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Naples Florida Monthly Real Estate Market Update – January 2018

Naples Florida Real Estate Market News –
January 2018

 

 

SINGLE FAMILY

CLOSED SALES

  • The number of closed sales in the 12 months ending January 31, 2018 for the Naples, Bonita Springs and Estero area remained relatively the same, with an increase less than 2% year-over-year (6,723 vs 6,638).
  • There were 25 closed sales, priced above two million, in January 2018 compared to the same number in January 2017 (25 units). During the 12 months ending January 31, 2018, sales in this category increased 20% over the same time period in 2017 (357 vs 297).

 

NEW LISTINGS/INVENTORY

  • During the 12 months ending January 31, 2018, a total of 10,554 new listings were added to the market, this is 10% fewer listings than the same time period, 12 months ending December 31, 2017.
  • Available inventory as of January 31, 2018 consisted of 5,080 units, a decrease of 11% vs the same time period in 2017. Current inventory represents 13 months of supply based on current absorption rates.

 

AVERAGE AND MEDIAN SALES PRICE

  • The year-to-date average sales price for the area was $633,134 which improved over the same time period in 2017, representing an increase of more than 5%.
  • The median sales price for the area increased less than 3% to $382,433 vs 2017.



CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending January 31, 2018 for the Naples, Bonita Springs and Estero area improved, with an increase less than 4% year-over-year. (5,455 vs 5,257).
  • There were 21 closed sales, priced above two million, in January 2018 compared to 8 in January 2017, a 163% increase. During the 12 months ending January 31, 2018, sales in this category increased 35% over the same time period in 2017 (130 vs 96 units).

 

NEW LISTINGS/INVENTORY

  • During the 12 months ending January 31, 2018, a total of 8,603 new listings were added to the market, approximately 7% fewer listings than the same time period 12 months ending December 31, 2017.
  • Available inventory as of January 31, 2018 consisted of 4,479 units, a decrease of 6% vs the same time period in 2017.

 

AVERAGE AND MEDIAN SALES PRICE

  • The year-to-date average sales price for the area was $414,667, which improved over the same time period in 2017, representing an increase of less than 8%.
  • The median sales price for the area increased less than 4% to $245,448 vs 2017.

 

“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS. Copyright 2018 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.”