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Naples Florida Monthly Real Estate Market Update – May 2018

Naples Florida Real Estate Market News –
May 2018

 

 

SINGLE FAMILY

CLOSED SALES

  • The number of closed sales in the 12 months ending May 31, 2018 for the Naples, Bonita Springs and Estero area remained relatively the same, with a decrease of 3% year-over-year (6,737 vs 6,963).
  • There were 53 closed sales, priced above two million, in May 2018 compared to 55 in May 2017. During the 12 months ending May 31, 2018, sales in this category increased 11% over the same time period in 2017 (381 vs 343).

 

NEW LISTINGS/INVENTORY

  • During the 12 months ending May 31, 2018, a total of 10,727 new listings were added to the market, this is 5% fewer listings than the same time period, 12 months ending May 31, 2017.
  • Available inventory as of May 31, 2018 consisted of 5,197 units, a decrease of 4% vs the same time period in 2017. Current inventory represents 9 months of supply based on current absorption rates.

 

AVERAGE AND MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $656,396 which improved over the same time period in 2017, representing an increase of 8%.
  • The median sales price for the area increased 4% to $395,000 vs $380,000 in 2017.

 


CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending May 31, 2018 for the Naples, Bonita Springs and Estero area remained relatively the same, with a decrease of 1% year-over-year (5,488 vs 5,533).
  • There were 24 closed sales, priced above two million, in May 2018 compared to 34 in May 2017, a 29% decrease. During the 12 months ending May 31, 2018, sales in this category increased 20% over the same time period in 2017 (142 vs 118 units).

 

NEW LISTINGS/INVENTORY

  • During the 12 months ending May 31, 2018, a total of 8,770 new listings were added to the market, approximately 2% fewer listings than the same time period 12 months ending May 31, 2017.
  • Available inventory as of May 31, 2018 consisted of 4,360 units, a decrease of 3% vs the same time period in 2017. Current inventory represents 9 months of supply based on current absorption rate.

 

AVERAGE AND MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $417,595, which improved over the same time period in 2017, representing an increase of 6%.
  • The median sales price for the area decreased 5% to $255,000 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.”