Naples Market Update October 2018

Residential Real Estate Activity in Our Area During the Month of September

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Let’s take a look at the Naples area during the month of September. The number of active listings was down 4% from one year earlier and did not change from the previous month. This smaller inventory means that buyers who waited to buy, may have had a smaller selection to choose from. As you can see, the median listing price for the month, was just under $400,000. Compared to last year, the average number of days that units spent on the market before being sold was up 2%. This higher number of days may signal a slow down in the local inventory turnover rate. The median sale price was just under $330,000. The number of units sold increased 37%, year over year and decreased 19%, month over month. Higher year over year figures indicate that more buyers have been finding what they are looking for.

Now, let’s take a look at residential real estate activity in the North Naples area during the month of September. The number of active listings was down 10% from one year earlier and up 2% percent from the previous month. This recent increase reflected a larger selection of homes for buyers to choose from. As you can see, the median listing price for the month, was just under $530,000. Compared to last year, the average number of days that units spent on the market before being sold was down 33%. This lower number of days may signal a positive trend in the local inventory turnover rate. The median sale price was just over $520,000. The number of units sold increased 15%, year over year and increased 5%, month over month. These figures may indicate that buyers have been taking advantage of opportunities in this market.

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This is current and historical data from Premier Sotheby's International Realty's local MLS to produce detailed, highly visual and easy to interpret videos that demonstrate monthly market trends. I hope you use this information to make smart and informed decisions in your upcoming real estate transactions! I'm here to help along the way.

Frank Duggan | Premier Sotheby's International Realty
239.734.0397