June 2018 Naples Market Report

June 2018 Naples Market Report


June 2018 Naples Market Report
Brought To You By Barry Brown
Broker Associate
Coldwell Banker Residential Real Estate
239-298-0522

 

We are halfway through the year and sales are up marginally, the number of homes on the market is right where it should be and prices are up over last year but down the last two months.  Following is my June 2018 Naples Market Report.  Please Enjoy!

5,425 homes have been sold so far this year in Naples which is an increase of 65 units or 1.2%. This is nothing to get excited about, but is still ok.

June ended with 5,123 homes on the market which was down 387 units from last month, 66 units from June of last year and 7.0% and 1.3% respectively. This represented a 5.7 month supply which is generally considered a balanced market that does not favor either the seller or the buyer.

The median sales price for both May and June was $335,000 which was $600 higher than the first of the year and $35,000 lower the median sales price in January, February, March and April.   The average sales price fared better at $85,847or 15.3% higher than the first of the year although it was $42.541 or 6.% lower than last month. The average price per square foot also dropped $9.00 from last month but is still up 13.0% for the year.   Obviously the market is unsettled at this time and appears to be going through an adjustment as far as prices are concerned.   In that the rest of the country is strong it will be interesting to see how the summer plays out.  

June 2018 Naples Market Report Sales Prices by Price Range and Housing Type Table

Another way to look at prices are twelve month median list and price trends by community and housing type. As you can see below it looks like the communities west of 41 are outperforming the rest of Naples. But even this can be misleading due to sample size and does not consider location, view, upgrades, condition, etc.

Even though the market has dropped off over the last two months we are still seeing positive appreciation for the year at 5.6%. Through the first six months of the year $3,078,425,000 worth of homes have been sold which is $348,224,000 greater than January through June of last year.

As always the question is where are prices going?   One indicator is list price which has been trending downward since a big jump in January. If this continues we will definitely see a drop on sales prices. However if sellers hold firm and both they and their agents are patient, prices should remain relatively stable.

In summary, if you are looking to sell now is a good time as we are in midst of the summer selling season and prices may go lower. If you are looking to buy, now is also a good time as you still have a great selection and if history is any guide, prices will go up next season.

I hope my June 2018 Naples Market Report 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 June 2018 Naples Market Report with them. You might also want to visit my website, www.barry4homes.net, as an updated market report is posted every month.

 

 

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