Naples real estate market update for homes – October

Median Sold price for Naples homes increased 3.5 percent since last October – from $381,750 to $395,000.

Naples homes sold during 2016 have a median sold price of $384,369. Last year the median sold price was $365,000. The median sold price has increased 5.3 percent.

The graph below shows the median sold price for homes by year from 2005 to 2016. (The median sold price is the middle price, where half of the sales are of lower value and half are of higher value.)

The median sold price comparing 2016 to 2015 has increased 5.3 percent. The percentage of price increase for 2015 was 11.3 percent compared to 2014 at 17.1 percent, and 2013 at 17.4 percent over the previous years. A slow down in the percentage of the median price sold price.

The median sold price for a home in Naples is 19.0 percent less than in 2005 which was the peak of the market. In 2005, the median sold price was $474,450. This year the median sold price has been $384,369.

The median sold price for a home bottomed in 2009 at $195,000. In 2016, the median sold price has been $384,369. This represents an increase of 97.1 percent from the bottom of market.

In October 338 homes were sold, while last October 379 were sold.

Naples homes for sale was 2,893 up from the previous month’s 2,729.

Last October there was 2,231 homes for sale, which is less than this year.

The 2,893 homes for sale represent about 7.3 months of listings to be sold; it was 5.1 months at the end of last October.

Below is a table showing the number of homes for sale and months of inventory by price range. Red indicates a seller market, yellow represents a neutral market, and green represents a buyers market by price range.

The table below compares the months of inventory in October of 2016 to September 2016 and October of each of the 4 preceding years.

Distressed single-family home properties (potential short sales and foreclosures) – 49 representing 1.7 percent of the total market – 17 (0.6 percent) are potential short sales and 32 (1.1 percent) are foreclosed or REO (real estate owned) properties.

Looking Forward:

During October, 721 homes with a median original list price of $479,000 came on the market for sale; last October 711 homes with a median original list price of $449,900 were listed for sale. The increase in the median original list price was $29,100 or 6.5 percent.

Expect to see the median sold price to increase in the coming months.

367 homes had offers accepted with a median list price of $374,900 compared to last October’s 413 pending sales with a median list price of $374,900. The median list price did not change.

Expect to see no material change in the median sold price in the year over year comparison in the coming month.

Other detailed market reports are available for – Naples condos, Bonita Springs homes, Bonita Springs condos, Estero homes, and Estero condos by clicking on the appropriate link.

In case you missed last month’s report – click on this link – Naples Homes Market Update.

The data was obtained from the SWFLAMLS a collaborative effort of the multiple listing services of Naples, Bonita Springs/Estero, Fort Myers, and Cape Coral.

Your questions and comments are always welcome.

This post - Naples Homes Market Statistics – October 2016 first appeared on Naples Real Estate Blog - News and Market Trend Statistics.