Naples Florida Real Estate Market News –
July 2016
12 Month Comparisons as of July 31, 2016
CLOSED SALES
- The number of closed sales through July 2016 is down 16% from the same period in 2015. Sales pace is driven by inventory, demand and pricing.
- During the past 12 months, closings for properties priced above $2 million declined by 9.7% (410 vs. 454).
NEW LISTINGS/INVENTORY
- Available inventory on August 1, 2016 in the Naples, Bonita Springs, Estero combined market consisted of 5,991 units (3,222 single family homes and 2,769 condominiums). This is up from 4,286 units on August 1, 2015.
- The number of available properties for sale on August 1, 2016 represents 6.1 months of supply based on current absorption rates.
AVERAGE AND MEDIAN SALES PRICE
- The average price of closed sales increased 4% over the past 12 months, and year-to-date has remained approximately the same as prior year ($541,515 in 2016 vs. $535,318 in 2015).
- Median price is up 5% for the first seven months of the year ($320,000 vs. $305,000).
- Average price of closed sales priced above $2 million fell 3% over the past 12 months from $3,900,914 to $3,796,322.
“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS. Copyright 2016 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.”