Monthly Market Report for July 2016
Naples / Bonita Springs / Estero Market Area
- 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).
- 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
- 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.
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“The source of this real property information is the copyrighted and proprietary database of Southwest Florida MLS, Copyright 2015, and the proprietary compilation of that data by John R. Wood Properties, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data.”