MONTHLY MARKET REPORT FOR MAY 2017

Naples / Bonita Springs / Estero / Marco Island Market Area

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NAPLES, BONITA SPRINGS AND ESTERO

Closed Sales

  •   The number of closed sales year-to-date for Naples, Bonita Springs and Estero increased 7% year-over-year.
  •   Closed sales priced above $2 million increased 25% through May compared to the same period in 2016.During the past 12 months, sales in this category are approximately the same as prior year (429 vs. 426).

New Listings/Inventory

  •   Available inventory on June 1, 2017 consisted of 6,910 units, an increase of 5% over June 1, 2016. This represents 6.9 months of supply based on current absorption rates.
  •   During the 12 months ending May 31, 2017, a total of 20,292 new listings were added to the market, less than a 2% increase from the prior 12 months ending May 31, 2016.

Average and Median Sales Price

  •   Year-to-date average sales price for the area increased 4% to $575,780, up from $553,785 for the same period in 2016. Median price is approximately the same as last year at $330,000 for the period.
  •   Over the past 12 months, the average sales price of properties above $2 million remained static with prior year at $3,806,276.

 

MARCO ISLAND

Closed Sales

  •   During the 12 months ending May 31, 2017, the Marco Island area had 754 closings, down 14% from the same period last year when there were 880 closings.
  • The number of closed sales year-to-date decreased 24% over prior year to 282 vs. 371 in 2016.

New Listings/Inventory

  •   Available inventory on June 1, 2017 consisted of 723 units, down from 765 units last month.
  • During the 12 months ending May 31, 2017, there were a total of 1,398 new listings added to the Marco Island market.This is a 5% reduction from the prior 12-month period when 1,473 new listings were added.

Average and Median Sales Price

  •   Average price of closed sales during the month of May was up 9% year-over-year while median price increased 3% for the period.
  •   The 12-month average price increased 7% over the prior 12 months to $767,020, up from $715,879
 Visit Naples.house for luxury homes for sale in Naples, Bonita Springs, Estero, Sanibel and Captiva Islands, and Marco Island.

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