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Naples Housing Market Remains Hot



Luxury Waterfront Home Under Construction by Nova Homes of South Florida

NAPLES, BONITA SPRINGS AND ESTERO

Closed Sales

The number of closed sales year-to-date remained stable when compared to the same period last year with 7,139 closings vs. 7,010 in 2017. Meanwhile, closed sales priced above $2 million increased 21.6 percent over the first six months of 2017 to 354 sales compared to 291 during the prior year.

New Listings/Inventory

Available inventory on July 1, 2018 was 6,608 residential units compared to 6,443 a year ago. This represents 6.6 months of supply based on the current sales pace. During the 12 months ending June 30, 2018 there were 17,474 new listings added to the market, a decrease of 14 percent over the prior 12 months.

Average and Median Sales Price

The average sales price increased 8 percent over the past 12 months to $566,277. The median sales price for the period is up 2.8 percent to $328,563. Average sales price on a year-to-date basis for properties priced above $2 million is up 11.6 percent, impacted by a number of higher priced sales during the first six months; however, a $48 million beachfront sale that closed in June was excluded so as not to skew the average. The average price of sales above $2 million is up 3.4 percent over the 12 months ending June 30, 2018 to $3,798,800.

One of Naples' premier new construction builder, Nova Homes of South Florida is building luxury custom homes throughout Southwest Florida. Priced from the $200s to $2 million, there is a Nova Home for everyone's budget.

Contact Nick Cornwell at 239.766.5076 or email at BuildNow@NovaHomesBuilder.com

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