Naples Florida Real Estate Market News –
March 2016
12 Month Comparisons as of March 31, 2016
CLOSED SALES
- The slight decrease in the number of closed sales over the past 12 months is largely due to decreases in the under $250,000 segment (down 24%). Sales in all other price ranges increased over prior year during this period with the exception of properties priced above $2 million, which declined by less than 3%.
- A total of 2,561 sales closed during the first quarter of this year vs. 3,176 during Q1 2015. The only category showing an increase over prior year were properties priced between $500,000 and $750,000, which were up 5%. Properties priced below $250,000 and those above $5 million posted the largest decreases in number of sales, down 34% and 36% respectively.
NEW LISTINGS/INVENTORY
- The number of new listings placed in inventory during Q1 is up 12% over the same period 2015 (6,741 vs. 6,016). Over the past 12 months, new listings are up 4% compared with the prior 12-month period.
- Available inventory in the Naples, Bonita Springs, Estero combined markets on April 1, 2016 consisted of 6,961 units, up from 6,847 units in March, and 5,179 units a year ago, a year-over-year increase of 34%.
AVERAGE AND MEDIAN SALES PRICE
- Average sales price during the first quarter was $556,482, an increase of 4% over Q1 2015.
- Average price of properties above $2 million increased 3.8% over the past 12 months, from $3,709,916 to $3,852,016.
“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.”