Monthly Market Report

Month Ending December 2018

Market statistics in Southwest Florida continue to follow the stable trends seen and reported on over the last several months. Prices show a modest yet steady increase over the same period last year while listing inventory reflects a balanced market with 7.7 months of supply. Overall, 2019 appears to be starting on the positive ground that’s ideal for an active and healthy real estate season.


NAPLES, BONITA SPRINGS AND ESTERO

Closed Sales
During the 12 months ending December 31, 2018, a total of 12,599 sales were reported, which represents an increase of 6.1% over the prior 12 months when there were 11,872 sales. Meanwhile, closed sales priced above $2 million increased by 18.2% to 526 sales compared to 445 during the preceding 12-month period.

New Listings/Inventory
Available inventory on December 1, 2018, consisted of 7,540 residential units compared to 6,692 a year ago. This represents 7.2 months of supply based on the current sales pace. During the 12 months ending November 30, 2018, there were 18,549 new listings added to the market, a decrease of 3.8% from the prior 12 months when 19,290 listings were added.

Average and Median Sales Price
At $568,574 the average sales price over the past 12 months was 6.2% above the same period last year. The median price rose 2.2% from $324,250 to $331,368. The average sales price over the past 12 months for properties priced above $2 million was $3,853,526, an increase of 3.3% from the prior year.

MARCO ISLAND

Closed Sales
There were 846 closed sales during the 12-month period ending December 31, 2018, compared to 853 for the same period last year.

New Listings/Inventory
Available inventory on January 1, 2019, consisted of 701 residential units, up 14.9% from 610 last year. This represents 9.9 months of supply at the current pace of sales. During the 12 months ending December 31, 2018, there were 1,381 new listings added to the market, up 6.5%

Average and Median Sales Price
The average sales price over the past 12 months increased by 7.3% to $783,502 compared to $730,108 a year ago. The median price for the past 12 months was essentially unchanged at $583,844, up from $578,890 last year.


*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.

JODEE BENNETT, REALTOR® | JOHN R. WOOD PROPERTIES 239.631.2561 

jbennett@johnrwood.com | coastalhome4you.com