July 3, 2017

Naples Real Estate - Market Report - May 2017

Naples Real Estate Market Report - May 2017.
Overall closed sales of homes in May shined brighter than any other month previously reported in 2017, with an impressive 23% increase to 1,027 closed sales in May 2017 from 838 closed sales in May 2016. Likewise, overall pending sales (homes under contract) also outperformed activity reported in the last four months. Leading broker analysts who reviewed the May 2017 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), are quite confident that real estate agents will be very busy this summer.


"If May's momentum continues, this year will turn out better than last year," said Mike Hughes, Vice President and General Manager for Downing-Frye Realty, Inc. "Home sales during the summer months have become stronger over the past few years. We are no longer seeing a huge disparity in activity between winter and summer like we once did."
One familiar obstacle summer buyers will face again this year is a reduction in available inventory.
"This type of behavior is short sighted," said Hughes. "Those who let a listing expire at the end of our winter season are missing a huge opportunity to sell their property during the summer months." Hughes added that our area attracts a variety of buyers during the summer such as international travelers, families from Northern states, and those relocating from other parts of Florida.
The NABOR® May 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® May 2017 sales statistics are presented in chart format, including these overall (single-family and condominium) findings: 
CATEGORIES
May 2016
May 2017
CHANGE
Total homes under contract (pending sales)

921
1,027
12%
Total closed sales
838
1,027

23%

Median closed price
$338,000
355,000
5%
Median closed price >$300K

$547,000
$590,000
8%

Total active listings (inventory)
5,207
5,404
4%

Average days on market 

73
98
34%
Single-family closed sales

396
485
22%
Single-family median closed price
$432,000

$435,000

1%

Single-family inventory

2,744
2,734
0%
Condominium closed sales

442
542
23%

Condominium median closed price

$276,000

$289,000
5%

Condominium inventory

2,463

2,670
8%


Continue to view Full Naples Real Estate Market Report...

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