Monthly Market Report – June 2018

Monthly Market Report

The market remained brisk through May and is keeping pace with the activity levels of 2017, showcasing another exceptional year for Southwest Florida real estate. We are seeing stable or moderately increasing prices throughout the market. Along with a broad selection of inventory, this combination continues to attract buyers to our area. Although pending sales during the month of May were 5.8 percent lower than what was reported in May 2017, they remain the third highest for the month during the past 10 years. On a 12-month basis, pending sales remained stable when compared with the prior 12-month period.

 

NAPLES, BONITA SPRINGS AND ESTERO

Closed Sales

The number of closed sales year-to-date remained stable when compared to the same period last year with 5,791 closings vs. 5,729 in 2017. Meanwhile, closed sales priced above $2 million increased 21.2% to 303 sales, up from 250 during the prior year.

New Listings/Inventory

Available inventory on June 1, 2018 was 6,885 residential units compared to 7,082 a year ago, which represents 6.9 months of supply. During the 12 months ending May 31, 2018 there were 17,421 new listings added to the market, a decrease of 14% over the prior 12 months.

Average and Median Sales Price

The average sales price increased 7.3% over the past 12 months to $560,764. Median sales price for the period is also up 2.8% to $328,333. The average price of sales above $2 million remained static for the 12-month period but is showing a 2.7% increase on a year-to-date basis.

 

MARCO ISLAND

Closed Sales

405 closings took place during the first 5 months of 2018 compared to 441 for the same period last year. During the past 12 months the number of closed sales declined by 13% to 817 closings, down from 939 for the same period in 2017.

New Listings/Inventory

Available inventory on June 1, 2018 consisted of 648 residential units, down from 705 on June 1, 2017. In the last 12 months, 1,300 new listings were added to the market, down from 1,509 during the previous 12 months.

Average and Median Sales Price

The average sales price over the past 12 months remained stable at $733,718 compared to $742,000 a year ago. Meanwhile, median price for the 12 months declined slightly to $558,867 compared to $579,502 a year ago.

*Marco Island statistics are obtained from the Marco Island MLS system and include only those sales and current listings on Marco Island and Key Marco.

 

 

SOUTHWEST FLORIDA HAPPENINGS

 

SummerJazz on the Gulf at Naples Beach Hotel

Market Update - Summer Jazz on the Green

June 23 – September 15, 2018

A popular Southwest Florida tradition continues, as The Naples Beach Hotel & Golf Club hosts its 32nd “SummerJazz on the Gulf” concert series. This free concert series combines an appealing and diverse selection of Jazz entertainment with beautiful views of the Gulf of Mexico, stunning sunsets, cool breezes, and a relaxing atmosphere.

 

July 4th Fireworks at Naples Pier

Market Update - Naples Pier 4th of July Fireworks

July 4, 2018

Fireworks begin at 9 pm and feature a twenty-minute display with special effects musically choreographed to patriotic selections. This is being simulcast on radio station WAVV 101.1 FM.

Naples residents should bring chairs or blankets to viewing spots in town, as the fireworks are visible all along the Naples beach.

 

Freedom Fest – Fort Myers River District

Market Update - Fort Myers Freedom Fest

July 4, 2018

Free, family-friendly fun on the waterfront! Fireworks start at 9:30 am with additional entertainment to include a live DJ and band, activities for the kids, food vendors, and a special viewing area for veterans.

 

Downtown Street Bazaar

Market Update - Downtown Fort Myers Street Bazaar

July 14, 2018

Support local shops and join the community street bazaar in downtown Fort Myers. The street is closed to traffic and over 40 participating vendors will be there.

 

If you are looking to Buy or Sell in SW Florida, check out my website at www.beachtotee.com

or give me a call at (239) 449-8484 & let’s discuss your needs.

From Beach To Tee, it’s where you need to be.

Market Update - Beach To Tee