A Beautiful Custom Home by Nova Homes of South Florida - Naples, Florida
Monthly Market Report
The number of year-to-date closed sales for Naples, Bonita Springs and Estero (NA-BN-ES) slightly outpaced those for the same period last year, while sales on Marco showed a modest decrease. The number of active listings in the overall market remains steady with the past two years. The overall average and median sale price for both markets showed modest increases.
NAPLES, BONITA SPRINGS AND ESTERO
Closed Sales
The number of closed sales year-to-date rose slightly when compared to the same period last year with 9,162 closings vs. 8,887 in 2017. Meanwhile, closed sales priced above $2 million increased 16.5% over the first eight months of 2018 to 409 sales compared to 351 during the same period the prior year.
New Listings/Inventory
Available inventory on September 1, 2018 consisted of 6,156 residential units compared to 6,159 a year ago. This represents 6.1 months of supply based on the current sales pace. During the 12 months ending August 31, 2018 there were 17,547 new listings added to the market, a decrease of 14.1% from the prior 12 months.
Average and Median Sale Price
The average sales price increased 5.8% over the past 12 months to $561,355 while the median price climbed 2.3% to $329,188. Average sales price on a year-to-date basis for properties above $2 million was $3,895,600, a decline of 20.3% from the prior year.
MARCO ISLAND
Closed Sales
There were 624 closed sales during the first eight months of 2018 compared to 650 for the same period last year. During the past 12 months, the number of closed sales declined by 8.4% to 827 compared to 903 during the same period in 2017.
New Listings/Inventory
Available inventory on September 1, 2018 consisted of 507 residential units, down from 644 last year. This represents a 21.3% reduction. During the 12 months ending August 31, 2018 there were 1,250 new listings added to the market, down 12.8% from 1,434 during the prior 12 months.
Average and Median Sale Price
Over the past 12 months the average sales price increased 7.7% to $768,976 compared to $714,068 a year ago. The median price for the past 12 months increased 2% when compared to the prior year, from $569,997 to $581,521.
Nova Homes of South Florida has been building quality homes in Naples and Marco Island since 2004. For more information contact Nick Cornwell at 239.776.5076 or email BuildNow@NovaHomesBuilder.com.