Second Quarter 2017 housing market reports released by Naples Area Board of REALTORS® (NABOR®), which follow home listings in all of Collier County (except Marco Island), show strength and stability with a 7 percent increase overall closed sales from 2,704 closed sales in 2Q of 2016 to 2,880 closed sales in 2Q 2017. The reports also show a 9 percent increase in overall closed sales for the month of June from 832 closed sales in June 2016 to 907 closed sales in June 2017. The end of June 2017 market reports for the Bonita Springs and Estero areas also show strength and stability.
The $2 million and higher price category of the condominium home market in Naples saw a significant increase of 86 percent in closed sales and a 38 percent decrease in the median closed price from Q2 2016 to Q2 2017. Pending sales in North Naples also saw an increase of 20 percent from 2Q 2016 to 2Q 2017.
Overall inventory for the Naples area increased by 4 percent from 2Q in 2016 2Q 2017. There was a 12 percent increase in overall inventory for the $300,000 and below price range in the area and a 17 percent increase in inventory for condominium homes in the $300,000 and below price range for 2Q 2017.
Additional 2Q data for the Naples area:
- The total number of pending sales increased by 9 percent from Q2 2016 to Q2 2017
- The median closed price increased by 5 percent from Q2 2016 to Q2 2017
- The median closed price for homes over $300,000 decreased by 1 percent from Q2 2016 to Q2 2017
- Single-family home sales increased by 7 percent from Q2 2016 to Q2 2017
The latest data reported by Bonita Springs-Estero Association of REALTORS® (B.E.A.R.) for June 2017 shows pending and new listing activity for the Bonita Springs and Estero areas only increased for the homes that are priced at fair market value.
Additional 2Q data for the Bonita Springs-Estero area:
- Overall pending sales increased by 12 percent from 12-months ending in June 2016 to 12-months ending in June 2017
- The number of closed sales increased by 8 percent from 12-months ending in June 2016 to 12-months ending in June 2017
- The median closed price decreased by 3 percent from $305,000 to $295,000 from 12-months ending in June 2016 to 12-months ending in June 2017
- Inventory remained virtually unchanged