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Naples Florida Monthly Real Estate Market Update – April 2018

Naples Florida Real Estate Market News –
April 2018

 

 

SINGLE FAMILY

CLOSED SALES

  • The number of closed sales in the 12 months ending April 30, 2018 for the Naples, Bonita Springs and Estero area remained relatively the same, with a decrease of less than 1% year-over-year (6,782 vs 6,826).
  • There were 54 closed sales, priced above two million, in April 2018 compared to 43 in April 2017. During the 12 months ending April 30, 2018, sales in this category increased 16% over the same time period in 2017 (382 vs 319).

 

NEW LISTINGS/INVENTORY

  • During the 12 months ending April 30, 2018, a total of 10,765 new listings were added to the market, this is 5% fewer listings than the same time period, 12 months ending April 30, 2017.
  • Available inventory as of April 30, 2018 consisted of 5,536 units, a decrease of 4% vs the same time period in 2017. Current inventory represents 10 months of supply based on current absorption rates.

 

AVERAGE AND MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $652,757 which improved over the same time period in 2017, representing an increase of more than 8%.
  • The median sales price for the area increased 10% to $425,000 vs $385,000 in 2017.

 


CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending April 30, 2018 for the Naples, Bonita Springs and Estero area improved, with an increase of 3% year-over-year (5,561 vs 5,405).
  • There were 10 closed sales, priced above two million, in April 2018 compared to 11 in April 2017, a 9% decrease. During the 12 months ending April 30, 2018, sales in this category increased 58% over the same time period in 2017 (152 vs 96 units).

 

NEW LISTINGS/INVENTORY

  • During the 12 months ending April 30, 2018, a total of 8,767 new listings were added to the market, approximately 2% fewer listings than the same time period 12 months ending April 30, 2017.
  • Available inventory as of April 30, 2018 consisted of 4,778 units, a decrease of 2% vs the same time period in 2017. Current inventory represents 14 months of supply based on current absorption rate.

 

AVERAGE AND MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $420,831, which improved over the same time period in 2017, representing an increase of 9%.
  • The median sales price for the area increased 5% to $269,000 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.”