Naples Florida Real Estate Market News –
February 2016
12 Month Comparisons as of February 29, 2016
CLOSED SALES
- Year-to-date closed sales posted a 17% decline over the first two months of 2015. Two segments accounted for a bulk of the decline – properties priced below $250,000 were down 34%, and those priced between $750,000 and $1 million, were down 38%.
- The number of closed sales priced above $2 million fell 13% year-over-year, representing 10 fewer sales than the same period in 2015.
NEW LISTINGS/INVENTORY
- Available inventory on March 1, 2016 consisted of 6,847 units, up 13% from 6,041 units in January, and 27% above the 5,400 properties available for sale on March 1, 2015.
- During the first two months of 2016, a total of 4,722 new listings were placed on the market, representing a 16% increase over the same period in 2015.
AVERAGE AND MEDIAN SALES PRICE
- The median price of closed sales year-to-date increased 10.8% over the prior year to $327,000, while the average closed price is up 9% to $585,861.
- Average sales price for properties priced above $2 million increased 4.3% over the past 12 months, from $3,686,426 to $3,844,954.
“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS. Copyright 2016 Southwest Florida MLS. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it. Naples Florida Monthly Real Estate Market Update is provided by Dustin Beard.”