2018 March Naples Real Estate Market Report

2018 March Naples Real Estate Market Report


2018 March Naples Real Estate Market Report

Through February 2018
Brought To You By Barry Brown
Broker Associate
Coldwell Banker Residential Real Estate
239-298-0522

February results were for the most part neutral. Inventory was up which was to be expected, sales were down slightly from January and prices were down marginally from last month but still up for the year.  Following is the complete 2018 March Naples Real Estate Market Report.

The number of homes on the market increased 5.0% from last month to 6,433 while the number of months of inventory maintained steady at a 9.0 month supply.   As we go through the season, I expect that the inventory will drop into the high 4,000 range and the number of months of supply into the five month range, but not low enough to push us into a buyers’ market.

Closed sales were down 16 units or 1.6% in February but up 3.1% or 41 units versus last year. This compares vary favorably to past history with only 2014 showing better results.   I expect this positive trend to continue as we go through the season baring any unforeseen major problems in the economy or world events.

While the average sales price was up 0.3% the median sales price was down 2.2 % from last month.   However when compared to February of last year, both the average and median sales prices were up 24.6% and 8.0% respectively.   Overall the 12 month price trends are both up. As always, a better picture begins to emerge as we drill down into the numbers.

March Naples Real Estate Market Report Sales Price Trends Table by Property Type and Sales Price

One last thing to consider are list prices which have been steadily increasing with the exception of last month where the median sales price was down 4.1% from January but up 3.0% over February of last year.

March Naples Real Estate Market Report Median List Price For the Last Five Years

As always the question is: “Where is the market going and what does this mean to buyers and sellers?”   As in last month’s report, I expect sales to stay strong with an overall price appreciation in the 4% to 6% range for the year.

If you are looking to sell, there are people who dream of owning a home in Naples. If you are looking to buy, now is a great time as you will have a nice selection to choose from and prices will only increase in the future.

I hope my 2018 March Naples Real Estate Market Reportthe above has been helpful and informative. If I can be of any assistance, please let me know.

Best Regards,

Barry

Barry L. Brown
Broker Associate
Coldwell Banker Residential Real Estate
550 Fifth Avenue South
Naples, Florida 34112
239-298-0522
www.barry4homes.net
barry4homes@aol.com

P.S. If you are thinking of putting your home on the market and would like a no obligation Comparative Market Analysis, please give me a call. I would love the opportunity to earn your business. If you know of anybody who is looking to buy or sell, feel free to share my 2018 March Naples Real Estate Market Report with them. The opinions are those of the author and should not be considered to be a specific recommendation. They along with the data are presented to help you make an informed decision. The source of the data is the Sunshine MLS and Naples Board of Realtors.

An expanded version is available on my web site every month at barry4homes.net. Feel free to visit and share with your friends and neighbors.

 

 

 

 

 

 

 

 

 

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