Monthly Market Report —
The number of year-to-date closed sales for Naples, Bonita Springs and Estero (NA-BN-ES) slightly outpaced those for the same period last year, while sales on Marco showed a modest decrease. The number of active listings in the overall market remains steady with the past two years. The overall average and median sale price for both markets showed modest increases.
NAPLES, BONITA SPRINGS AND ESTERO
Closed Sales
The number of closed sales year-to-date rose slightly when compared to the same period last year with 9,162 closings vs. 8,887 in 2017. Meanwhile, closed sales priced above $2 million increased 16.5% over the first eight months of 2018 to 409 sales compared to 351 during the same period the prior year.
New Listings/Inventory
Available inventory on September 1, 2018 consisted of 6,156 residential units compared to 6,159 a year ago. This represents 6.1 months of supply based on the current sales pace. During the 12 months ending August 31, 2018 there were 17,547 new listings added to the market, a decrease of 14.1% from the prior 12 months.
Average and Median Sale Price
The average sales price increased 5.8% over the past 12 months to $561,355 while the median price climbed 2.3% to $329,188. Average sales price on a year-to-date basis for properties above $2 million was $3,895,600, a decline of 20.3% from the prior year.
MARCO ISLAND
Closed Sales
There were 624 closed sales during the first eight months of 2018 compared to 650 for the same period last year. During the past 12 months, the number of closed sales declined by 8.4% to 827 compared to 903 during the same period in 2017.
New Listings/Inventory
Available inventory on September 1, 2018 consisted of 507 residential units, down from 644 last year. This represents a 21.3% reduction. During the 12 months ending August 31, 2018 there were 1,250 new listings added to the market, down 12.8% from 1,434 during the prior 12 months.
Average and Median Sale Price
Over the past 12 months the average sales price increased 7.7% to $768,976 compared to $714,068 a year ago. The median price for the past 12 months increased 2% when compared to the prior year, from $569,997 to $581,521.
*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
Reflections on Glass Exhibit at Naples Botanical Gardens
October 1, 2018 – March 31, 2019
Brings a collection of whimsical glass sculptures and installations by flamework glass artist Hans Godo Fräbel to Naples for the first time. This whimsical exhibition features botanical pieces, playful figures, and ornate geometric shapes.
Marco Island Boat Show at Rose Marina
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 show in the Naples-Marco Island area.
Drink for the Pink Event at Artichoke & Company – Bonita Springs
October 26, 2018
Support Breast Cancer Awareness Month
J.N. “Ding” Darling National Wildlife Refuge – Sanibel Island
October 12, 2018 – October 14, 2018
A weekend of eco-activities at the “Ding” Darling Days
For more information, contact Jodee and her network of elite professionals. Jodee’s mission is to be a trusted advisor to help you make good choices. To schedule a private consultation at our North office located below, call Jodee at 239.631.2561 or email jbennett@johnrwood.com. Download a printed version of the market report >
1185 Immokalee Rd, Ste. #300
Naples, FL 34110
Please don’t hesitate to call me at 239.631.2561, email jbennett@johnrwood.com, or visit coastalhome4you.com. Consultations are at no cost and no obligation.
Jodee Bennett, REALTOR®, Naples Trust Real Estate Services, LLC, Naples, Florida Real Estate 