Naples July Home Sales Increase

Naples July Home Sales Increase

Naples July Home SalesOverall, Naples July home sales increased compared to the same time last year.  The total number of homes sold during July of 2017 was 682 compared to 627 in July of 2016 according to the latest real estate market report released by the Naples Area Board of REALTORS (NABOR).

Additionally, the median close sales price in July was $319,000, up from $300,000 during the same month last year.  Unlike previous months, the average days on market increased significantly.  Naples homes and condos were on the market 105 days, up from 65 days in July 2016.  However, this is typical of the summer months in the Naples area.

Year over Year Highlights:

  • Pending Sales increased 3% in the 12-months ending July 2017
  • Closed Sales increased 3% in the 12-months ending July 2017
  • Median Closed Price increased 4% in the 12-months ending July 2017
  • Inventory increased 3% in July 2017 from July 2016
  • Average Days on Market increased 40% in July 2017 from July 2016

Naples Fl Real Estate

Homes Below $500,000

Moreover, overall closed sales between $300,000 and $500,000 increased significantly for single family homes, up 32 percent year-over-year.  At the same time, homes priced below $300,000 saw pending sales fall 24 percent, closed sales decrease 19 percent and inventory decrease 2 percent.  Ultimately, the entire single-family home market continues to see reduced inventory.   The reduced supply of Naples homes, has resulted in the highest median price for homes under $300,000 since 2008.

On the flip side,  homes priced above $300,000 saw an increase in the media closed price fall 7 percent from $524,000 to $485,000 compared to the same time last year.

Homes Above $500,000

Additionally, activity in the $500,000 to $1 million price category saw overall pending sales increase 44 percent in July from July 2016. This is likely the result of the decrease in median closed price which decreased 16 percent for condos in this $500,000 to $1 million price category.  Homeowners are becoming more realistic, lowering prices and they’re more willing to negotiate.

Overall, inventory increased 3 percent, however, for single family homes it actually decreased 1 percent.  The result is prices continue to rise at the low end of the market.

First Time Home Buyers

Also, there is good news on the first-time buyer home front.  Many analysts reviewing the July report agreed that an increase in conventional sales (homes purchased with financing) is a good sign that first-time homebuyers are entering the market. Unlike previous months, the July Market Report showed total closed sales were split almost equally between cash sales and conventional sales.

Marco IslandMarco Island July Sales

Also, on Marco Island, there was a total of $48 million dollars worth of real estate closed during July of 2017 compared with $55 million dollars worth in July 2016.  However, the number of Single-family home sales on Marco Island last month totaled 33 which was the same as in July 2016. And, Marco condo sales in July slipped 29 percent to 30 vs. 42 during the same month last year.

To view the entire Naples July Home Sales report, visit

 Other Articles:

Realtors Confidence August 2017 Index

Real Estate Transactions Week of July 3rd

Real Estate Transactions Week of July 10th

Real Estate Transactions Week of July 17th

Note, Real Estate Transactions for the Week of July 21st were unavailable due to Hurricane Irma.

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:

golf communitiesIf 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.

About Matt Klinowski

Naples Golf Guy

Contact Matt:

or at 239-370-0892

September 25, 2017 Posted by Matt