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Naples Real Estate Update – Homes – February 2017

Naples Homes Market Statistics – February 2017

Median sold price for Naples homes decreased 3.9 percent since last February – from $400,000 to $385,000. (The Median Sold price is the middle price, where half of the sales are of lower value and half are of higher value.)

Naples homes sold during 2017 have a median sold price of $380,000. Last year the median sold price was $385,000. The median sold price has decreased 1.3 percent.

The graph below shows the median sold price for homes by year from 2005 to 2017.

Naples Homes Market Statistics - February 2017 - Median Sold Prices by Year

Naples Homes Market Statistics – February 2017 – Median Sold Prices by Year

Median sold price percentage change from the prior year:

  • 2017 – -1.3
  • 2016 – + 5.5
  • 2015 – +11.3
  • 2014 – +17.1
  • 2013 – +17.4

Historical Pricing Perspective:

The median sold price for a home in Naples is 19.9 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 $380,000.

The median sold price for a home bottomed in 2009 at $195,000. In 2017, the median sold price has been $380,000. This represents an increase of 94.9 percent from the bottom of market.

In February 358 homes sold, while last February 301 sold.

Listings and Months of Inventory:

Naples homes for sale was 3,412 up from the previous month’s 3,344.

Last February there was 3,014 homes for sale, which is less than this year.

The 3,412 homes for sale represent about 8.5 months of listings to be sold; it was 7.0 months at the end of last February.

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.

Naples Homes Market Statistics - February 2017 - Number of Listings and Months of Inventory by Price Range

Naples Homes Market Statistics – February 2017 – Number of Listings and Months of Inventory by Price Range

The table below compares the months of inventory in February of 2017 to January 2017 and February of each of the 4 preceding years.

Naples Homes Market Statistics - February 2017 - Comparison by Price Range Historical Months of Inventory

Naples Homes Market Statistics – February 2017 – Comparison by Price Range Historical Months of Inventory

Distressed Properties:

Distressed single-family home properties (potential short sales and foreclosures) – 55 representing 1.7 percent of the total market – 19 (0.6 percent) are potential short sales and 36 (1.1 percent) are foreclosed or REO (real estate owned) properties.

Looking Forward:

During February, 792 homes with a median original list price of $469,950 came on the market for sale; last February 927 homes with a median original list price of $488,000 were listed for sale. The decrease in the median original list price was $18,050 or 3.7 percent.

539 homes had offers accepted with a median list price of $425,000 compared to last February’s 458 pending sales with a median list price of $434,950. This represents a decrease of 2.3 percent in the median list price.

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 came 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 Real Estate Update – Homes – February 2017 first appeared on Naples Real Estate Blog - News and Market Trend Statistics.



This post first appeared on Naples Real Estate Blog - News And Market Trend Statistics -, please read the originial post: here

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Naples Real Estate Update – Homes – February 2017

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