More choices and better prices


better pricesOverall, the Naples market is seeing better prices due to additional inventory of homes on the market.  According to the latest reports recently released by the Naples Area Board of REALTORS® for February, prices do continue to remain stable despite the fact inventory continues its upward trend.  In addition, activity has picked up for both pending sales and closed sales.

Market Trends:

  • Overall pending sales are down 8 percent for the 12-months ending  Feb. 2017
  • Overall closed sales are down 10 percent for the 12-months ending Feb. 2017
  • Overall median closed price is up 3 percent for the 12-months ending Feb. 2017
  • Inventory is up 16 percent from February 2016 to February 2017
  • Average Days on Market is up 25 percent from February 2016 to February 2017


InventoryAs you can see, overall inventory rose 16 percent.  Inventory increased from 5,577 homes in February of 2016 up to 5,466 homes in 2017.  Overall, if you look at this same time last year, we’ve added almost 1,000 new listings to the market.  Additionally, the largest increase in inventory during February was for condos.  Inventory increased 23 percent from 2,599 condos last year up to 3,207 this year. In particular, condo inventory between $1 million and $2 million went up significantly at 43 percent.  So, this is good news for buyers who have more to chose from at better prices.  However, if you are selling your home, it does mean it might take longer to sell your home.

Pending and Closed Sales

SoldIn addition, overall pending sales increased 10 percent from 993 properties sold up to 1,092 sales when you compare February of this year to last year.  Similarly, overall closed sales increased 18 percent to 613 closed sales in February 2017 up from 518 closed sales in February 2016. On the positive side, the condominium market had the highest increases in both pending and closed sales. For example, pending sales of condominiums in the $300,000 to $500,000 price category had the highest increase of all other home types and price points in February with a 53 percent increase. And closed sales of condominiums in the $500,000 to $1 million price category had the highest increase of all other home types and price points in February with a 75 percent increase.

Median Sales Price

Overall the median sales prices remained stable at a 3 percent increase compared to the same month last year.  The median price increased from $323,000 to $333,000 during February.  However, when you dig into the numbers, prices dropped for single-family homes by 5 percent from $425,000 down to $402,000.  Additionally, as season progresses, anticipate further price reductions.  For example, during one week in February, there were 400 price reductions in just one week.


February 2017 sales statistics for all single-family homes and condominium:

Total homes under contract (pending sales) 993 1,092 10%
Total closed sales 518 613 18%
Median closed price $323,000 $333,000 3%
Total active listings (inventory) 5,577 6,466 16%
Average days on market 79 99 25%
Single-family closed sales 261 294 13%
Single-family median closed price $425,000 $402,000 -5%
Single-family inventory 2,978 3,259 9%
Condominium closed sales 257 319 24%
Condominium median closed price $260,000 $270,000 4%
Condominium inventory 2,599 3,204 23%

Bottom Line More Choices and Better Prices

Now is the time to buy property if you are considering a purchase in Naples, Bonita Springs or Estero.  With prices showing signs of dropping, I will help you negotiate the best price for the home of your dreams.

About Matt Klinowski

Naples Golf GuyThe above information was provided by Matt Klinowski, an expert in Southwest Florida real estate. With 15 years of experience I can help provide the market information and more importantly, provide insights into individual communities to help ensure you buy a home which suits your lifestyle.  At the same time, I will also handle all the negotiations to make your real estate transaction as smooth as possible.
Contact Matt:
or at 239-370-0892
March 20, 2017 Posted by Matt