Market Update

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Naples, Fla. (January 19, 2018) - Home sales increased 4 percent in 2017 and the median closed price increased 3 percent, according to the Year End 2017 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). The report also showed heightened activity in the high-end market, with closed sales of homes in the $2 million and above price category skyrocketing 20 percent in 2017.

Properties priced below $300,000 experienced the fewest days on market in 2017. Some broker analysts reported that they saw many of these properties go from list to close in less than 10 days. Inventory continued to struggle in the low end of the market making options difficult for buyers looking for single-family homes in this price range. In fact, 1,265 of the 1,554 available properties in the $300,000 and below price category were condominiums.
 
The NABOR® Year End 2017 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® Year End 2017 sales statistics are presented in chart format, including these overall (single-family and condominium) findings: 
 


CATEGORIES

2016

2017

CHANGE

Total homes under contract (pending sales) (year/year)

8,903

9,121

2%

Total closed sales (year/year)

8,510

8,815

4%

Median closed price ((year/year)

$320,000

$330,000

3%

Median closed price >$300K (year/year)

$520,000

$514,000

-1%

Total active listings (inventory)

5,946

5,491

-8%

Average days on market 

89

104

17%

Single-family closed sales (year/year)

4,268

4,347

2%

Single-family median closed price (year/year)

$400,000

$418,000

4%

Single-family inventory

3,015

2,685

-11%

Condominium closed sales (year/year)

4,242

4,468

5%

Condominium median closed price (year/year)

$253,000

$263,000

4%

Condominium inventory

2,931

2,806

-4%

 
Geographically, condominiums in North Naples were the biggest sellers in 2017. Closed sales in this region increased 17 percent, while pending sales increased 15 percent.

 

View December 2017 Market Statistics
View 4Q 2017 Market Statistics
View Year End 2017 Market Statistics

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