Monthly Real Estate Market Update – December 2017
Here is the latest Real Estate Market Report for SW Florida Real Estate.
Naples, Bonita Springs & Estero
- The number of closed sales year-to-date is up 3% over the same period in 2016.
- Closed sales, priced above $2 million increased 22.5% through October compared to the same period in 2016 (424 vs. 346). During the past 12 months, closings in this segment are up 20.9% over the prior period (457 vs. 378).
- Closings in November reflected the slow-down in September with 708 sales for the month compared to 829 in November 2016.
- Available inventory on December 1, 2017 consisted of 6,692 single family homes and condominiums, up from 6,537 units a year ago. This represents 6.7 months of supply based on the sales pace over the past 12 months.
- During the 12 months ending November 30, 2017 there were a total of 19,290 new listings added to the market, a decline of 5% from the prior 12 months.
Average and Median Sales Price
- The year-to-date average sales price for the area increased 3.8% to $535,864, up from $516,469 for the same period in 2016. Median closed price is up 5.1% to $326,500 vs. $310,000 in 2016.
- The average price of sales above $2 million remained static over the past 12 months at $3,723,987, an increase of less than 2%.
- During the 12 months ending November 30, 2017, the Marco Island area recorded 867 closings, an increase of 5% over the same period last year when there were 826 closings.
- Year-to-date 785 closings occurred compared to 779 last year.
- Available inventory on December 1, 2017 consisted of a total of 619 single family homes and condominiums compared to 758 at the same time last year. This represents 8.6 months of supply based on current absorption rates.
- During the 12 months ending November 30, 2017, a total of 1,303 new listings were added to the Marco Island market, down 11% from the prior 12 months.
Average and Median Sales Price
- Year-to-date average price of closed sales stands at $723,505 vs. $702,750 for the same period in 2016.
- The average sales price for the 12 months ending November 30, 2017 is $725,372, up 3.7% from last year’s average of $699,774. The median price for this period increased 6.4% to $576,944.
November has been a busy month for most JRW agents. The number of sales pended during the month increased almost 8% over November 2016, with strong activity in all price segments. We did significantly better than the market, where pended sales across NA-BN-ES and MI were static with the prior year (1160 this year vs. 1163 in 2016). Sales momentum has been growing stronger each month since September, and we anticipate a very busy 2018 season!
*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.
Upcoming Events in our area…..
January 5, 2018
The Collier County Fair is proud to announce its Sixth Annual Big Swamp Smoke-Off Bar-B-Que competition.
Proceeds from the Festival benefit the Naples Children and Education Foundation, whose vision is to make a profound and sustaining difference in the quality of children’s lives.
Old Florida at its finest — enjoy fried and smoked mullet and lots of other fresh seafood, plus a variety of food vendors and arts and crafts.
If you are thinking of Buying or Selling in the SW Florida area, please visit our website at www.BeachToTee.com or give us a call at (239) 449-8484
Beach To Tee. It’s where you need to be!