July sales were up 8.7% compared to the same month last year, keeping year-to-date sales just ahead of those for 2018. Sales over the past 12-months surpassed those of the preceding 12-month period by 5.3%. All positive news for the market-at-large.
Click on the link below to view the July 2019 Market Report for NA-BN-ES-MI
Compared to the preceding 12 months, sales over the past year show gains in all price ranges excluding the $1-2 million and $2-5 million categories which posted modest shortfalls of 6.5% and 3.5%, respectively. The $5 million-plus category showed the greatest gain at 18.8%. Year-to-date sales in most price categories were within a few percentage points of the same period last year, while the $5 million-plus category posted a 10.8% gain and the $1-2 million and $2-5 million categories posted respective declines of 11.9% and 8.1%.
Supply & Demand
Months of supply, at 5.8 months and down 7.4% from a year ago, continue to demonstrate a balance between supply and demand in the overall market. The lower price segments posted the lowest months of supply, with 3.8 months for listings below $250k and 5.2 months for $250k-$500k. The $5 million-plus price segment posted the highest months of inventory at 16.8 months. However, with the pace of sales increasing in this price bracket, some of that inventory may be absorbed in the months ahead.
Year to date, John R. Wood Properties continues to be the leader in our marketplace. We hold the top ranking for closed sales volume in all of Southwest Florida as well as the top position for both closed sales volume and units sold in the combined Naples, Bonita, Estero market!