Naples Florida Real Estate Market News –
May 2016
12 Month Comparisons as of May 31, 2016
CLOSED SALES
- There were 5,019 sales that closed during the first 5 months of 2016, down from 6,216 closings during the same period in 2015.
- The 10.5% decline in closed sales over the past 12 months is driven primarily by a 25% decrease in sales below $250,000. Closings in the $500,000 – $750,000 segment actually increased 5.5% during the period.
- The number of closed sales priced above $2 million year-to-date fell 23% when compared to the same period in 2015. During the past 12 months, sales in this price category are down 3% (423 vs. 436).
NEW LISTINGS/INVENTORY
- Available inventory on May 1, 2016 consisted of 6,562 units, down 3.6% from the 6,810 units last month, and up 38% over prior year.
- During the month of May 2016 there were a total of 1,495 new listings added to the market, the highest for the month since 2010, when there were a total of 1,810.
AVERAGE AND MEDIAN SALES PRICE
- Average price of closed sales during the month of May increased 2% year-over-year, while median closed price is up 7%.
- Average price of sales above $2 million remained approximately the same over the past 12 months, declining less than 3%.
“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.”