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Naples Florida Monthly Real Estate Market Update – February 2018

Naples Florida Real Estate Market News –
February 2018

 

 

SINGLE FAMILY

CLOSED SALES

  • The number of closed sales in the 12 months ending February 28, 2018 for the Naples, Bonita Springs and Estero area remained relatively the same, with a decrease of less than 1% year-over-year (6,690 vs 6,722).
  • There were 38 closed sales, priced above two million, in February 2018 compared to 33 in February 2017. During the 12 months ending February 28, 2018, sales in this category increased 18% over the same time period in 2017 (361 vs 307).

 

NEW LISTINGS/INVENTORY

  • During the 12 months ending February 28, 2018, a total of 10,655 new listings were added to the market, this is 8% fewer listings than the same time period, 12 months ending February 28, 2017.
  • Available inventory as of February 28, 2018 consisted of 5,612 units, a decrease of 8% 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-over-year average sales price for the area was $641,217 which improved over the same time period in 2017, representing an increase of more than 7%.
  • The median sales price for the area increased 3% to $384,766 vs $372,403 in 2017.

 



CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending February 28, 2018 for the Naples, Bonita Springs and Estero area improved, with an increase less than 4% year-over-year. (5,519 vs 5,339).
  • There were 22 closed sales, priced above two million, in February 2018 compared to 3 in February 2017, a 6-fold increase. During the 12 months ending February 28, 2018, sales in this category increased 58% over the same time period in 2017 (150 vs 95 units).

 

NEW LISTINGS/INVENTORY

  • During the 12 months ending February 28, 2018, a total of 8,630 new listings were added to the market, approximately 6% fewer listings than the same time period 12 months ending February 28, 2017.
  • Available inventory as of February 28, 2018 consisted of 4,802 units, a decrease of 6% vs the same time period in 2017. Current inventory represents 11 months of supply based on current absorption rate.

 

AVERAGE AND MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $423,989, which improved over the same time period in 2017, representing an increase of 11.1%.
  • The median sales price for the area increased less than 4% to $245,662 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.”