Naples & Southwest Florida Real Estate
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Naples Real Estate Market Watch July 2018

Posted:

Naples Real Estate Market Watch July 2018


Tidbits

Downing-Frye Realty blows past $1 Billion Sales Mark

by the end of July!

 

 

COMBINED INVENTORY – Naples, Bonita/Estero


1807InventoryTNRetreating, still… – The combined inventory for Naples, Bonita Springs, and Estero is continuing the seasonal retreat usually reaching the low point for the year August, September, or October. Good sales activity in July, comparing a year-over-year basis, combined with yet fewer new listings coming to the market again both lead to the overall reduction in available for sale inventory. The combined inventory is now less than 6,400 listings, the lowest point, again, in 2018 to date. Inventory dropped about 4% and it is a few percentage points above just one year ago in July.


Both Naples and Bonita-Estero markets saw an inventory reduction of 3% and 8% respectively month-over-month.


CLOSED SALES – Naples, Bonita/Estero


Sales volume up year-over-year… –The combined overall sales volume for the Naples and Bonita-Estero markets shows a busy summer season with sales volume 2% above July 2017. The Naples market was up about 3% while the Bonita-Estero area were on par with one year ago same period numbers.



NAPLES REAL ESTATE

 1807NaplesReportTN-HOR

AVERAGE PRICE PAID

Strong numbers year-over-year… – Naples overall average price paid was up year-over-year 2%. The year-over-year average price paid has increased 7 of the last 12 months. This is a good indicator of a strong steadily rising price market. The condominium market is up a bit year-over-year ~1% while single-family homes were up 8% year-over-year.


The overall average price paid for all property types was $560,000 compared to $548,000 one year ago and compared to $641,000 in the prior month. The average price paid for a single-family home was $710,000 compared to $657,000 one year ago and $840,000 in the prior month. For a condominium the average price paid was $395,000 compared to $391,000 one year ago and $399,000 in the prior month.


MEDIAN SALE PRICE

(The number where 50% of the homes sell above and below.)
Up year-over-year…– The overall median price was up 5%, again, year-over-year and down ~2% month-over-month. Single-family homes were up from $379,000 to $411,000 and condominiums were up from $235,000 to $242,000 both on a year-over-year basis.


The overall median price paid for all property types was $327,000 compared to $311,000 one year ago.



BONITA SPRINGS REAL ESTATE and ESTERO REAL ESTATE

1807BonitaReportTN-HOR

AVERAGE PRICE PAID


UP! Year-over-year and month-over-month… – The overall average price paid for a property in the Bonita/Estero market increased 5% month-over-month and year-over-year. Most of the increase was in single-family homes with condominiums up just a bit.


The overall average price paid for a property was $381,000 from $363,000 the previous month and $355,000 the previous year. The average price paid for a single-family home was $488,000 compared to $460,000 the prior month and $431,000 the prior year. For condominiums the average price paid was $270,000 from $269,000 the prior month and $280,000 one year ago.


For 2017 the overall average monthly closed sale price was $388,000 and now 2018 through July the overall average closed sale price is $392,000.

 

 


MEDIAN SALE PRICE


(The number where 50% of the homes sell above and below.)

UP! Year-over-year and month-over-month… – The overall median price paid for a property in the Bonita/Estero market increased month-over-month and year-over-year. The month-over-month number was up ~4% and on a year-over-year basis it was up ~6%.


The overall median price paid for a property was $299,000 compared to $281,000 one year ago. The median price paid for a single-family home was at $390,000 compared to $359,000 one year ago, and for a condominium $238,000 compared to $235,000 one year ago.


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