Residential Real Estate Activity in our Area During the Month of May
During the month of May, the number of active listings was down 10% from one year earlier and down 8% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. The median listing price was just over $410K. Compared to last year, the average number of days that units spent on the market before being sold was up 3%. This higher number of days may signal a slow down in the local inventory turnover rate. The median sale price was just under $340K. The number of units sold decreased 6% year after year and increased 1% month over month. Despite a slight decrease, this upward monthly sales trend indicated positive momentum.
In fact, housing activity in May yields solid market according to statistics by the Naples Area Board of REALTORS.®
- Overall Pending Sales increased 23% in the $2M+ category 12-months ending 5/2018
- Overall Closed Sales increased over 23% in the $1M-$2M category 12-months ending 5/2018
- Overall Median Closed Price increased 5% 12-months ending 5/2018
- Overall Inventory remained neutral May 2017 over May 2018
- Overall Average DOM decreased 1% 2017 over May 2018
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 | Sotheby's International Realty