Month Ending April 2019
Units sold during the month of April exceeded that of April 2018 by 5.9% and were the highest for April since 2015. Year-to-date sales now trail those of 2018 by a mere 3.7%, closing the gap from the 15% deficit that was posted as of the end of February.
New listings added over the past 12 months exceeded the prior year by 14.8%, and new listings for April were up by 13% compared to last year. Despite this increase in new listing activity, inventory as of May 1 only surpassed that of a year ago by 3.3%. Months of supply, at 7.5 months, was static with that of a year ago and continues to reflect a balance between supply and demand.
Overall, our market continues to show signs of stability and balance as we continue to glide off from the market peak that occurred in the latter half of 2015.
I am pleased to report that, as of May 1, John R. Wood Properties holds the number one position in both closed units and dollar volume in the combined Naples, Bonita, and Estero market.
NAPLES, BONITA SPRINGS AND ESTERO
During the 12-month period ending April 30, 2019 a total of 12,464 sales were reported, up 3.3% from the same period the prior year when there were 12,061 sales. With 510 sales reported, closed sales priced above $2 million were up 1.4% compared to the prior 12-month period when 503 sales were posted.
Available inventory as of May 1, 2019 consisted of 7,789 units compared to 7,538 as of the same date last year, up 3.3%. Months of supply was static with that of the same time last year at 7.5 months. New listings added over the 12-month period ending April 30, 2019 were up 14.8% to 20,113 compared with 17,526 listings added during the preceding 12-month period.
Average and Median Sales Price
Average and median prices for closed sales for the 12-month period ending April 30, 2019 were static with the preceding 12-months, at $562,261 and $328,228, respectively. The average price for sales above $2 million over the past 12-months was up 8.4% to $3,958,231 compared to $3,653,038 for the preceding 12-month period.
During the 12-months ending April 30, 2019, 845 closings were posted for the Marco Island area, up 3.2% over the preceding 12-months when 819 sales were reported.
Available inventory as of May 1, 2019 for the Marco Island market totaled 748 units, up 12.5% compared to 665 units as of the same date the prior year. Months of supply, at 10.62 months, was up 9% compared to 9.74 months the prior year. During the 12-months ending April 30, 2019, 1,391 listings were added to the Marco Island market, a 7.2% increase over the preceding 12-month period when 1,297 listings were added.
Average and Median Sales Price
Pricing of closed sales over the past 12-months averaged $812,736, an 11.3% increase compared to the preceding 12-months when an average of $730,214 was posted. When comparing the same two periods, median pricing was up 7.6% from $558,432 to $600,936.
*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