February Naples Market Report

February Naples Market Report

Naples Real Estate Market Report
Through January 2018
Brought To You By Barry Brown
Broker Associate
Coldwell Banker Residential Real Estate

January is in the books and as expected, the market has recovered very nicely from Hurricane Irma and is off to a great start.   Units sold, the number of homes on the market, months of inventory and prices were all up while the number of days it takes to sell a home was down.  My Complete February Market Report is as follows:

690 homes were closed in January which is 6.5% greater than last year.   This was reflected in the number of days that it took to sell a home with both the average and median decreasing to 91 and 45 days respectively.   At the same time the number of homes on the market increased from by 18.5% to 6,124 which is normal for January. The number of months of inventory increased from 7.7 to 8.9 although I anticipate that this will decrease significantly as we go through the season. This is all positive, with the number of homes on the market providing an adequate supply as we start the year.

Both the average and median sales price increased with the average up 26.2% and median up 16.1% over last month. When we look at price per square foot we see the same with the average price increasing 15.8 % over last month and 11.2% over January of last year.   However when we look at prices by price range or home type, we still see large segments of the market which that still have a ways to go. Some of this is due to more lower priced homes sold than normal in that range while others may be reflecting an overall adjustment in prices.

February Naples Market Report Table of Sales Price By Dollar Range and Housing Type

As always, a better picture begins to emerge as we look at price trends by community and home type. However in some cases using a shorter or longer period can paint a different picture.  The only way to get a accurate picture of what your home is actually worth is to get Comparative Market Analysis from a professional realtor.

One last thing to consider are list prices which have been steadily increasing with the median sales price up 10.5% over last month and 11.7% over January of last year.

February Naples Market Report Median List Price Graph

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.

Naples was rated the happiest town in America by the Gallup-Healthways Well-Being Index for the second year in a row. With its world class shopping, dining and beaches, full calendar of artistic, cultural and charity events and more golf courses than any where else in the world, Naples is definitely the place to be. 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 February Market Report has been helpful and informative. If I can be of any assistance, please let me know.

Best Regards,


Barry L. Brown
Broker Associate
Coldwell Banker Residential Real Estate
550 Fifth Avenue South
Naples, Florida 34112
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 February 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 ever month at barry4homes.net. Fell free to visit and share with your friends and neighbors.





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