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Naples Florida Monthly Real Estate Market Update – June 2018

Naples Florida Real Estate Market News –
June 2018

 

 

SINGLE FAMILY

CLOSED SALES

  • The number of closed sales in the 12 months ending June 30, 2018 for the Naples, Bonita Springs and Estero area remained relatively the same, with a decrease of 4% year-over-year (6,753 vs 7,014).
  • There were 27 closed sales, priced above two million, in June 2018 compared to 15 in June 2017. During the 12 months ending June 30, 2018, sales in this category increased 13% over the same time period in 2017 (233 vs 206).

 

NEW LISTINGS/INVENTORY

  • During the 12 months ending June 30, 2018, a total of 10,729 new listings were added to the market, this is 6% fewer listings than the same time period, 12 months ending June 30, 2017.
  • Available inventory as of June 30, 2018 consisted of 4,817 units, a decrease of 5% 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 $670,456 which improved over the same time period in 2017, representing an increase of 10%.
  • The median sales price for the area increased 5% to $400,000 vs $380,000 in 2017.

 


CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending June 30, 2018 for the Naples, Bonita Springs and Estero area remained relatively the same, with a decrease of 2% year-over-year (5,501 vs 5,592).
  • There were 8 closed sales, priced above two million, in June 2018 compared to 13 in June 2017, a 38% decrease. During the 12 months ending June 30, 2018, sales in this category increased 12% over the same time period in 2017 (137 vs 122 units).

 

NEW LISTINGS/INVENTORY

  • During the 12 months ending June 30, 2018, a total of 8,779 new listings were added to the market, approximately 2% fewer listings than the same time period 12 months ending June 30, 2017.
  • Available inventory as of June 30, 2018 consisted of 3,885 units, a decrease of 5% 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 $414,653, which improved over the same time period in 2017, representing an increase of 5%.
  • The median sales price for the area decreased 1% to $257,500 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.”