Naples Homes Market Statistics – May 2017
Median sold price for Naples Homes decreased 2.5 percent since last May – from $410,250 to $400,000. (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 $399,000. Last year the median sold price was $385,000. The median sold price has increased 3.6 percent.
The graph below shows the median sold price for homes by year from 2005 to 2017.
Median Sold Prices by Year for Naples Homes
Naples Homes Percentage Change from Prior Year - May 2017
YEAR % CHG
2017 + 3.6
2016 + 5.5
2015 + 11.3
2014 + 17.1
2013 + 17.4
In May 560 homes were sold, while last May 450 were sold.
Historical Pricing Perspective:
The median sold price for a home in Naples is 15.9 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 $399,000.
The median sold price for a home bottomed in 2009 at $195,000. In 2017, the median sold price has been $399,000. This represents an increase of 104.6 percent from the bottom of market.
Number of Listings and Months of Inventory:
Naples homes for sale was 2,971 down from the previous month’s 3,221.
Last May there was 2,882 homes for sale, which is less than this year.
The 2,971 homes for sale represent about 7.1 months of listings; it was 7.0 months at the end of last May.
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.
Number of Listings and Months of Inventory by Price Range for Naples Homes
The table below compares the months of inventory in May of 2017 to April 2017 and May of each of the 4 preceding years.
Comparison of Months of Inventory by Price Range for Naples Homes
Distressed Properties:
Distressed single-family home properties (potential short sales and foreclosures) – 41 representing 1.4 percent of the total market – 14 (0.5 percent) are potential short sales and 27 (0.9 percent) are foreclosed or REO (real estate owned) properties.
Forward Looking:
During May, 618 homes with a median original list price of $449,000 came on the market for sale; last May 667 homes with a median original list price of $462,450 were listed for sale. The decrease in the median original list price was $13,450 or 2.9 percent.
562 homes had offers accepted with a median list price of $388,000 compared to last May’s 442 pending sales with a median list price of $379,900. This represents an increase of 2.1 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 – May 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
