Jodee Bennett, SWFL Real Estate, John R. Wood Properties
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.
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%.
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 increase 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, holding 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!
NAPLES, BONITA SPRINGS AND ESTERO
During the 12-month period ending July 31, 2019 a total of 12,705 sales were reported, up 5.3% from the same period the prior year when there were 12,064 sales. Closed sales priced above $2 million were up 1.6% from 505 to 513.
Available inventory as of August 1, 2019 totaled 6,145 units, down 2.5% compared to 6,304 units as of the same date the prior year. Months of supply, at 5.8 months, was down 7.4% compared to 6.27 months posted a year ago. New listings added over the 12-month period ending July 31, 2019 were up 3.5% to 19,601 compared with 18,932 listings added during the preceding 12-month period.
Average and Median Sales Price
The average price for closed sales over the 12-month period ending July 31, 2019 was $560,397, down 1.3% compared to the preceding 12-month period. The median price was unchanged. The average price for sales above $2 million over the past 12 months was up 4.3% to $3,962,216 compared to $3,798,666 for the preceding 12-month period.
During the 12-month period ending July 31, 2019 a total of 832 sales were reported, up 1.8% from the same period the prior year when there were 817 sales.
Available inventory as of Aug 1, 2019 for the Marco Island market totaled 623 units, up 11.1% compared to 561 units as of the same date the prior year. Months of supply, at 8.99 months, was up 9% compared to 8.24 months posted a year ago. During the 12 months ending July 31, 2019, 1,381 listings were added to the Marco Island market, a 7.3% increase over the preceding 12-month period when 1,287 listings were added.
Average and Median Sales Price
Pricing of closed sales over the past 12 months averaged $794,922, a 5.6% increase compared to the preceding 12 months when an average of $752,451 was posted. When comparing the same two periods, median pricing was up 3.5% from $572,717 to $592,868.
*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.
1185 Immokalee Rd, Ste. #300
Naples, FL 34110