Monthly Market Report – July 2018

Monthly Market Report

Market Update: As we predicted, it has been a busy summer season in Southwest Florida. The median price of closed sales in the Naples, Bonita Springs, and Estero market continues to increase moderately, with only Marco showing a slight decrease. Inventory remains healthy with 6.6 months of supply in Naples, Bonita Springs, and Estero, while Marco shows a slightly higher inventory at just under nine months of supply. Both of these numbers reflect a balanced market which is good news for sellers and buyers. Some areas are beginning to experience increasing inventory, and this will be a trend to monitor as we move into the fall when pre-season inventory historically increases. Click here to read full detailed Market Report.

 

NAPLES, BONITA SPRINGS AND ESTERO

Naples market update                  Bonita Estero market update

Closed Sales

The number of closed sales year-to-date remained stable when compared to the same period last year with 7,139 closings vs. 7,010 in 2017. Meanwhile, closed sales priced above $2 million increased 21.6 percent over the first six months of 2017 to 354 sales compared to 291 during the prior year.

 

New Listings/Inventory

Available inventory on July 1, 2018 was 6,608 residential units compared to 6,443 a year ago. This represents 6.6 months of supply based on the current sales pace. During the 12 months ending June 30, 2018 there were 17,474 new listings added to the market, a decrease of 14 percent over the prior 12 months.

 

Average and Median Sales Price

The average sales price increased 8 percent over the past 12 months to $566,277. The median sales price for the period is up 2.8 percent to $328,563. Average sales price on a year-to-date basis for properties priced above $2 million is up 11.6 percent, impacted by a number of higher priced sales during the first six months; however, a $48 million beachfront sale that closed in June was excluded so as not to skew the average. The average price of sales above $2 million is up 3.4 percent over the 12 months ending June 30, 2018 to $3,798,800.

For full detailed 2nd Quarter report, click here

MARCO ISLAND

Marco market update

Closed Sales

497 closed sales took place during the first six months of 2018 compared to 531 for the same period last year. During the past 12 months the number of closed sales declined 12 percent to 819 closings, down from 929 during the same period in 2017.

 

New Listings/Inventory

Available inventory on July 1, 2018 consisted of 612 residential units down from 683 on July 1, 2018. During the 12 months ending June 30,  we saw 1,292 new listings added to the market, down from 1,472 during the previous 12 months.

 

Average and Median Sales Price

The average sales price over the past 12 months remained static with prior 12 months at $738,724 compared to $741,255 a year ago. The median price for the past 12 months declined slightly to $563,931 down from $576,381 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.

For full detailed 2nd Quarter report, click here

 

SOUTHWEST FLORIDA HAPPENINGS

Beach to tee - Free Movies on the Lawn

Free Movies on the Lawn at Mercato

July 17 – May 21, 2018

Patrons are invited to enjoy the Movies on the Lawn series under the stars every third Tuesday of the of the month. Film selections range from classics to animated favorites which will be shown on a giant inflatable screen.

 

Beach to tee - Naples Players

The Naples Players Present CHICAGO

July 18 – July 29, 2018

CHICAGO earned 6 Tony awards and a Grammy®. It has the record for the longest-running musical revival and the longest-running American musical in Broadway history. Set in the roaring twenties, with it’s universal tale of fame, fortune and “All That Jazz,” CHICAGO is packed with show-stopping songs and spectacular Fosse-style choreography.

 

beach to tee - music walk

Downtown Fort Myers Music Walk

3rd Friday of the month

The River District comes alive on the third Friday of the month as local and regional musicians line the streets. From jazz and blues to rock & roll, many genres can be heard and vary each month. Free to the public with many venues featuring additional attractions and specials. 6-10 pm.

 

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.

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