HOW IS THE REAL ESTATE MARKET IN YOUR AREA?
John R. Wood Properties adheres to the philosophy that market knowledge is a crucial component for success. This is a pivotal difference for clients who have retained the Wood firm for their purchasing or selling transactions.
John R. Wood Properties is one of the few companies in the nation offering their own corporate research department. On a monthly basis, the department produces various reports and studies to assist its agents in maintaining their knowledge of the latest market trends, as well as assisting clients in making sound real estate investment decisions.
We invite you to take advantage of our current monthly market data reports. Click on the button of the Southwest Florida market area that you would like to review.
HURRICANE IRMA IMPACT ON THE NUMBERS
The impact from Hurricane Irma on the Southwest Florida real estate market will not be fully known for several months. As expected, the event substantially affected the month of September. Residents evacuated in large numbers, many businesses were without power and had to remain closed for prolonged periods, and real estate closings scheduled to occur during the month had to be delayed. The result was that closings in the Naples, Bonita Springs and Estero combined market were down 35% for the month when compared with September 2016, and Marco Island closings were down over 50%. In the coming months, John R. Wood Properties will carefully monitor data on all listing and sales activity by area and price range to help us fully understand the impact of the storm based on specific segments of the market.
At the time of this report, all signs point to a busy season, although it appears to be starting a little later than normal. Buyers are arriving daily and making purchases, and many winter residents are completing clean-up to their property and preparing them for the market. Restaurants and other businesses are mostly back in full swing, and traffic is heavier than a month or two ago.
NAPLES, BONITA SPRINGS AND ESTERO
5.8 months of supply based on current absorption rates.
Average and Median Sales Price
FOR RELIABLE, COMPLETE AND CURRENT MARKET CONDITIONS CONTACT
The Patrick Dearborn Team
239.877.4340 or send a message here.
“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS. Copyright 2016 Southwest Florida MLS. All rights reserved.
The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it.”