Naples August Property Sales

Naples August Property Sales Increase

Overall, Naples August home property sales increased 5 percent compared to the same time last year. The total number of homes sold during August of 2017 was 685 compared to 654 in August of 2016 according to the latest real estate market report released by the Naples Area Board of REALTORS (NABOR).

Additionally, the overall median close sales price in August was $328,000, up from $320,000 during the same month last year. Notably, the single-family median close sales price increased significantly up from $384,000 to $422,000 during the same time period.

Finally, single-family home inventory continues to decrease. Available inventory during the month of August was 2,446 compared to 2,554 during August of 2016. Having said that, inventory usually declines during the summer months in SWFL.

August 2017 Year-Over-Year Real Estate Statistics

Overall Single Family Home and Condo Year over Year Highlights:

Pending Sales increased 13% in the 12-months ending August 2017
Closed Sales increased 5% in the 12-months ending August 2017
Median Closed Price increased 2% in the 12-months ending August 2017
Inventory remained the same in August 2017 compared to August 2016
Average Days on Market increased 8% in August 2017 from August 2016

Overall Property Sales Statistics for the 12 months ending August 2017

Additional Highlights for August Property Sales:

Pending sales increased 12% in both the $300K-$500K category and $2M plus category
Pending sales increased 11% in the $500K-$1M category 12-months ending August 2017
Closed sales increased 14% in the $300K-$500K category
Closed sales increased 15% in the $2M+ category 12-months ending August 2017
Median closed price increased 4% overall 12-months ending August 2017
Average Days on Market increased 26% in the $500K-$1M category
Average Days on Market decreased 17% in the $2M+ category August 2016 to August 2017

Hurricane Irma Impact:

While it’s still too early to know the full extent of the impact of the hurricane on home sales, analysts indicate we will have a market slow down for about 30 days, then it will bounce back.

To date, there’s only been a few cancellations of sales due to the storm. However, there have been many closings delayed while repairs are made. Additionally, insurance providers were unable to write policies while a named storm was in the Gulf of Mexico. As a result, several closings were delayed.

As we get back to normal, and we are getting back to normal, clients are returning to the area to look at properties.

To view the entire Naples August Property Sales report, visit www.NaplesArea.com

Begin Your Own Naples Property Search:

So, if you are ready to begin your own property search, I encourage you to explore this website to find information about communities in Southwest Florida. If you are a golfer, I specialize in golf community real estate and would be happy to help you navigate over 100 different golf communities to get you started. Or, if you would rather, I will provide a list of properties that meet your criteria.

Bottom Line:

If you are buying a home in a golf community, you will find it is more complex than a normal home purchase. As you can probably imagine, there are significant differences between golf courses. Also, there are hidden fees, different membership fees, pet restrictions and very different demographics in each community.

Or, if you are considering new construction, remember the contractor’s real estate agent represents the builder’s best interest, not yours. There is no cost to you to have an agent represent you. In fact, I can help you save money and negotiate for extras which the builder may not let you know about.

So, if you are looking for information about a specific community in Bonita Springs, Estero or Naples, contact me and I will prepare a custom market report for you. Most importantly, I can provide the market information and insights to help make sure you select your dream home.

Lastly, I will handle all of the contract negotiations for your property from the first offer to close.