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Naples Florida Monthly Real Estate Market Update – July 2018

Naples Florida Real Estate Market News –
July 2018

 

 

SINGLE FAMILY

CLOSED SALES

  • The number of closed sales in the 12 months ending July 31, 2018 for the Naples, Bonita Springs and Estero area decreased 5% year-over-year (5,962 vs 6,291).
  • There were 25 closed sales, priced above two million, in July 2018 compared to 28 in July 2017. During the 12 months ending July 31, 2018, sales in this category increased 13% over the same time period in 2017 (395 vs 351).

 

NEW LISTINGS/INVENTORY

  • During the 12 months ending July 31, 2018, a total of 9,527 new listings were added to the market, this is 6% fewer listings than the same time period, 12 months ending July 31, 2017.
  • Available inventory as of July 31, 2018 consisted of 4,170 units, a decrease of 3% vs the same time period in 2017. Current inventory represents 8 months of supply based on current absorption rates.

 

AVERAGE AND MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $703,028 which improved over the same time period in 2017, representing an increase of 12%.
  • The median sales price for the area increased 9% to $398,850 vs $365,000 in 2017.

 


CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending July 31, 2018 for the Naples, Bonita Springs and Estero area remained relatively the same, with a decrease of 2% year-over-year (4,925 vs 5,020).
  • There were 6 closed sales, priced above two million, in July 2018 compared to 5 in July 2017, a 20% increase. During the 12 months ending July 31, 2018, sales in this category increased 17% over the same time period in 2017 (139 vs 119 units).

 

NEW LISTINGS/INVENTORY

  • During the 12 months ending July 31, 2018, a total of 7,942 new listings were added to the market, approximately 2% fewer listings than the same time period 12 months ending July 31, 2017.
  • Available inventory as of July 31, 2018 consisted of 3,348 units, a decrease of 2% vs the same time period in 2017. Current inventory represents 8 months of supply based on current absorption rate.

 

AVERAGE AND MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $436,411, which improved over the same time period in 2017, representing an increase of 6%.
  • The median sales price for the area remained relatively the same with an increase of less than 1% to $246,250 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.”