Market Remains Balanced

Experts Report Q2 2016 Real Estate Market Remains Balanced

The market remains balanced according to the latest market update released by Naples Area Board of REALTORS (NABOR). The second quarter of 2016 shows overall pending and closed sales are down when comparing 2015 to 2016. Prices have remained stable with a slight increase in the median closed price during Q2.

The good news for buyers is overall inventory is up 35 compared to last year so are more properties to chose from. For those considering purchasing single family home sales between $1 million and $2 million, the number of home sales continue to increase. Homes sales in this category were up 10 percent from 119 single-family homes sold in the second quarter of 2015 up to 131 in the second quarter of this year.

Second Quarter Highlights:

Pending Sales fell 11% overall from 2,843 in 2Q 2015 to 2,541 in 2Q 2016
Closed Sales were down 14% overall from 3,109 in 2Q 2015 to 2,662 in 2Q 2016
Median Closed Prices were up 2% overall from $318,000 in 2Q 2015 to $325,000 in 2Q 2016
Inventory was up 35% overall from 3,698 in 2Q 2015 to 4,983 in 2Q 2016
Days on the Market are up 1% overall from 75 days in 2Q 2015 to 76 in 2Q 2016
Single-Family Closed Sales fell 9 percent from 1,398 in 2Q 2015 down to 1,263 in Q2 2016
Single-Family Median Closed Price increased 6 percent from $399,000 in Q2 2015 to $421,000 in 2016
Single-Family Inventory increased 25% from 2,133 in Q2 105 to 2,674 in Q2 2016
Condo Closed sales declined 19 percent from 1,721 units to 1,399 in Q2 2016
Condo Median Closed Price decreased 2 percent from $263,000 down to $259,000
Condo Inventory increase 48 percent from 1,565 in Q2 2015 up to 2,309 in Q2 2016.

For those considering selling, now is a great time to get the ball rolling. With median prices still increasing and days on market holding steady you’ll want to get your property ready to go on the market within the next month as we head into season.

View Full 2016 Q2 Market Report

In addition to the second quarter review, NABOR® also released its June 2016 Market Report for overall sales for June of 2016 compared to June 2015. Similar to Q2, the market remains balanced during that time period. The following highlights include information for both single-family homes and condos in the greater Naples area.

June Year-Over-Year Highlights:

Pending Sales were down 18 percent from 882 in June of 2015 to 720 in 2016
Closed Sales fell 5 percent from 875 in June of 2015 to 832 in June of this year.
Overall Median Closed Price stayed the same at $315,000
Active Inventory increased 35 percent from 3,698 in 2015 up to 4,983 in 2016
Average days on market increased 12percent this June versus last June
Single-Family Closed Sales decreased 4percent from 431 properties down to 412 homes.
Single-Family Median Closed Price increased 1 percent from $397,000 to $400,000
Single-Family Inventory increased 25 percent up from 2,133 in June 2015 to 2,674 in 2016
Condo Closed sales declined 5 percent from 444 units to 420 units this June.
Condo Median Closed Price decreased 7 percent from $260,000 down to $243,000
Condo Inventory increase 48 percent from 1,565 last June up to 2,309 this June.

June Market Trends:

View June 2016 NABOR Market Statistics

Bottom Line:

The Naples Real Estate market remains balanced which is a sign of healthy market. When you are ready to begin your search for homes in Naples Florida or are considering selling, let me be your guide!

About Matt Klinowski
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