Naples real estate market update for condos – September
Median sold price for Naples Condos increased 8.8 percent since last September – from $216,000 to $235,000.
Naples condos sold in 2016 have had a median sold price of $242,000. Last year the median sold price was $240,000. The median sold price increased 0.8 percent.
The median sold price comparing 2016 to 2015 has increased 0.8 percent. The rate of price appreciation paid for condos comparing 2015 to 2014 was 14.3 percent. While 2014 compared to 2013 the percentage increase was 7.7 percent. The median sold price for 2013 increased 16.4 percent from 2012. (The median sold price is the middle price, where half of the sales are of lower value and half are of higher value.)
The graph below shows the median sold price for condos by year from 2005 to 2016.
Median Sold Price for Naples Condos by Price Range
Naples condos for sale was 2,112 up from the previous month’s 2,040.
Last September there were 1,312 condos for sale.
The median sold price for a condo in the Naples area is 32.8 percent below the peak of the market in 2005 when the price was $360,000 compared to $242,000 this year.
The median sold price for a condo bottomed in 2010 and 2011 at $155,000. In 2016, the median sold price has been $242,000. This represents an increase of 56.1 percent from the bottom of the market.
Distressed condo properties (potential short sales and foreclosures) – 22 representing 1.0 percent of the total market – 3 (0.1 percent) are potential short sales and 19 (0.9 percent) are foreclosed or REO (real estate owned) properties.
In September 253 condos were sold, while last September 317 were sold. 292 condos were sold in August.
The 2,112 condos for sale represent about 6.2 months of listings to be sold; up from 3.2 months at the end of last September. In August, there were 5.9 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 for Naples Condos by Price Range
The table below compares the months of inventory in September of 2016 to August 2016 and September of each of the 4 preceding years.
Comparison for Months of Inventory by Price Range for Naples Condos
Looking Forward
During September, 466 condos with a median original list price of $289,000 came on the market for sale; last September 383 with a median original list price of $259,900 condos were listed for sale or an increase in median price of 11.2 percent.
263 condos had offers accepted with a median list price of $240,000 compared to last September’s 295 pending sales with a median list price of $242,500 or decrease in median list price of 1.0 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 was obtained from the SWFLAMLS a collaborative effort of the multiple listing services of Naples, Bonita Springs/Estero, Fort Myers, and Cape Coral.
This post - Naples Condos Market Statistics – September 2016 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
