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Southwest Florida Real Estate Market Remains Hot for July



Golden Gate Estates Home Under Construction by Nova Homes of South Florida

The Southwest Florida real estate market, including Naples, Golden Gate Estates, and Marco Island remains strong through July.

NAPLES STATS INCLUDE BONITA SPRINGS AND ESTERO, FLORIDA.

CLOSED SALES

The number of closed sales year-to-date for Naples, Bonita Springs and Estero increased 9.5% year-over-year.Closed sales priced above $2 million are up 23% through July compared to the same period in 2016 (321 vs. 261). Over the past twelve months ending July 31, 2017, sales in this category are up 5.5% over prior year (439 vs. 416).

NEW LISTINGS/INVENTORY

Available inventory on August 1, 2017 consisted of 6,264 units, an increase of less than 2% over last year. This represents six months of supply based on current absorption rates.During the 12 months ending July 31, 2017, there were a total of 19,831 new listings added to the market, approximately the same as the period ending July 31, 2016.

AVERAGE AND MEDIAN SALES PRICE

Year-to-date average sales price for the area remained static with prior year at $552,173 compared to $544,590 at the end of July 2016.Average price of sales above $2 million declined 4.4% over the past 12 months to $3,646,176.

MARCO ISLAND

CLOSED SALES

  • The number of sales year-to-date on Marco Island decreased from 545 sales for the period in 2016 to 435 for the current year.

  • During the 12 months ending July 31, 2017, the Marco Island area had 893 closings, up from 854 for the 12 months ending July 31, 2016.

NEW LISTINGS/INVENTORY

  • Available inventory on August 1, 2017 consisted of 649 single family homes and condominiums. This represents an increase of 5% over the same period in 2016 and an overall supply of 8.7 months.

  • During the 12 months ending July 31, 2017 there were 1,402 new listings added to the Marco Island market. This is 5% fewer than the prior 12-month period.

AVERAGE AND MEDIAN SALES PRICE

  • Year-to-date average sales price for the area remained stable year-over-year at $747,101 vs. $727,687 in 2016.

  • Over the 12 months ending July 31, 2017, the average price increased 4.5% to $753,056, up from $720,510 for the previous 12 months.

Nova Homes of South Florida is building custom homes in Naples, Golden Gate Estates, and Marco Island.

Homebuyers may select from 14 home designs and can customize any of the homes to fit their family's needs and lifestyles, or they can bring in a plan of their own, or Nova Homes will design a home from scratch. For more information please call 239.307.6116 or visit NovaHomesBuilder.com


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