We are looking at a what should be a very strong summer market in 2018. As of April 2018, Collier County enjoyed around 7.75 months of inventory compared to a 4 month supply of inventory nationwide.
There will be plenty of choices for summer buyers this year. The growth in inventory has been across all price ranges and geographic areas.
Condominium inventory grow 2% in April to 3003 units from 2934 in April 2017. The $300,000 and below priced category experienced the highest increase in inventory, 7%. The median closed price of condominiums dropped in April by 8%, from $296,000 in April 2017 to $271,000.
The market for homes above $1 million is strong as well. The sales of properties in this price point will be strong for a least a couple of years, says property appraiser Cindy Carroll, SRA.
Real estate activity was strong across Collier County, but Sales of single family homes in South Naples were most remarkable with a 51% increase to 62 Closed Sales in April 2018 up from 41 in April 217.
Naples Area Board of Realtors (NABOR) statistics:
CATEGORIES April 2017 April 2018 CHANGE (percentage) Total homes under contract (pending sales) (month/month) 1,075 1,126 +5 Total closed sales (month/month) 902 978 +8 Median closed price (month/month) $355,000 $365,000 +3 Median closed price >$300K (month/month) $525,000 $525,000 0 Total active listings (inventory) 5,920 5,793 -2 Average days on market 97 95 -2 Single-family closed sales (month/month) 404 450 +11 Single-family median closed price (month/month) $419,000 $455,000 +9 Single-family inventory 2,986 2,790 -7 Condominium closed sales (month/month) 498 528 +6 Condominium median closed price (month/month) $296,000 $271,000 -8 Condominium inventory 2,934 3,003 +2
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