SW Florida Real Estate Monthly Market Report
August 2018, Monthly Market Report. The number of closed sales continued at approximately the same pace as last year through July, with the Naples, Bonita Springs, and Estero (NA-BN-ES) market showing less than a 2% increase, and Marco Island coming in with a 6% decrease for the period. Prices remain stable with the median price increasing a modest 3% in NA-BN-ES over the past 12 months, while Marco’s median price remained approximately the same as last year. Available inventory also continues at healthy levels with 6.3 months of supply in NA-BN-ES and 8 months on Marco Island.
NAPLES, BONITA SPRINGS AND ESTERO
The number of closed sales year-to-date remained stable when compared to the same period last year with 8,104 closings vs. 7,958 in 2017. Meanwhile, closed sales priced above $2 million increased 18.5% over the first seven months of 2018 to 385 sales compared to 325 during the prior year.
Available inventory on August 1, 2018 consisted of 6,304 residential units compared to 6,264 a year ago. This represents 6.3 months of supply based on the current sales pace. During the 12 months ending July 31, 2018 there were 17,539 new listings added to the market, a decrease of 14% from the prior 12 months.
Average and Median Sales Price
The average sales price increased 8.9% over the past 12 months to $568,633, while the median price climbed 3.2% to $330,604. Average sales price on a year-to-date basis for properties priced above $2 million remained static with prior year at $3,987,452. Over the past 12 months, the average price in this category is up 4% to $3,800,000.
There were 558 closed sales during the first seven months of 2018 compared to 594 for the same period last year. During the past 12 months the number of closed sales declined 8.5% to 817 compared to 893 during the same period in 2017.
Available inventory on August 1, 2018 consisted of 561 residential units, down from 651 last year. During the 12 months ending July 31, 2018 there were 1,287 new listings added to the market, down from 1,456 during the prior 12 months.
Average and Median Sales Price
The average sales price over the past 12 months increased less than 3% to $752,451 compared to $732,709 a year ago. Median price for the past 12 months was consistent with prior year at $572,717.
*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
September 7, 2018
Support this valuable program and shop for dresses, shoes, handbags, accessories and more at the Ritz-Carlton in Naples. From Gap to Gucci and beachwear to bridal, all items will be on sale for pennies on the dollar. There will also be a silent auction.
September 20, 2018
Local chef and restaurant owner of 21 Spices by Chef Asif will go toe to toe with culinary legend Bobby Flay in an upcoming episode of Food Network’s Beat Bobby Flay.
Asif Syed will be featured in Beat Bobby Flay’s 17th season episode titled “Chop of the Mornin’ to Ya”.
September 25, 2018
Sample wines from around the world, along with fresh cheeses and gourmet treats spread out throughout various stations set up inside and out, all while enjoying live entertainment.
October 12, 2018 – October 14, 2018
The Marco Boat Show is owned and managed by the Marine Industries Association of Collier County and is the largest in-water premier recreational boat shows in the Naples-Marco Island area.
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