Naples Condos Market Statistics – April 2017
Median sold price for Naples Condos increased 20.0 percent since last April – from $242,500 to $291,000. (The median sold price is the middle price, where half of the sales are of lower value and half are of higher value.)
Naples condos sold in 2017 have had a median sold price of $268,000. Last year the median sold price was $241,900. The median sold price has increased 10.8 percent.
The graph below shows the median sold price for condos by year from 2005 to 2017.
Median Sold Prices for Naples Condos by Year
Naples Condos Percentage Change from Prior Year - April 2017
| YEAR | % CHG |
|---|---|
| 2017 | + 10.8 |
| 2016 | + 0.8 |
| 2015 | + 14.3 |
| 2014 | + 7.7 |
| 2013 | + 16.4 |
In April 448 condos sold, while last April 496 sold. 460 condos sold in March.
Historical Price Perspective:
The median sold price for a condo in the Naples area is 25.6 percent below the peak of the market in 2005 when the price was $360,000 compared to $268,000 this year.
The median sold price for a condo bottomed in 2010 and 2011 at $155,000. In 2017, the median sold price has been $268,000. This represents an increase of 72.9 percent from the bottom of the market.
Listings and Months of Inventory:
Naples condos for sale was 2,892 down from the previous month’s 2,970.
Last April there were 2,426 condos for sale.
The 2,892 condos for sale represent about 8.3 months of listings; up from 6.6 months at the end of last April. In March, there were 8.6 months of inventory.
Below is a table showing the number of condo units 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.
Number of Listings and Months of Inventory by Price Range for Naples Condos
The table below compares the months of inventory in April of 2017 to March 2017 and April of each of the 4 preceding years.
Months of Inventory Comparison by Price Range for Naples Condos
Distressed Properties:
Distressed condo properties (potential short sales and foreclosures) – 34 representing 1.2 percent of the total market – 5 (0.2 percent) are potential short sales and 29 (1.0 percent) are foreclosed or REO (real estate owned) properties.
Looking Forward:
During April, 553 condos with a median original list price of $274,900 came on the market for sale; last April 709 condos with a median original list price of $279,000 were listed for sale or a decrease in median price of 1.5 percent.
452 condos had offers accepted with a median list price of $271,450 compared to last April’s 435 pending sales with a median list price of $249,900 or an increase in median list price of 8.6 percent.
Other detailed market reports are available for – Naples Homes, Bonita Springs homes, Bonita Springs condos, Estero homes, and Estero condos by clicking on the appropriate link.
If you missed last month’s report – click on this link – Naples Condos Market Update.
Your questions and comments are always welcome.
The data came from the SWFLAMLS a collaborative effort of the multiple listing services of Naples, Bonita Springs/Estero, Fort Myers, and Cape Coral.
This post - Naples Real Estate Update – Condos – April 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
