Q3 2017  MARKET REVIEW

 

While the storm impacted some of the quarterly numbers, particularly the number of closings, the strong months leading into September helped mitigate the impact on overall quarterly numbers.  Fortunately, while many closings had to be delayed,  those closings have been happening throughout October and into November.

 

On a rolling 12-month basis, it remains a good year, and with activity increasing daily, we expect that to continue through the remainder of the year.

 

Following is a summary of market activity for each of the areas.

 

 

 

NAPLES

Single Family Homes

  • The quarter-over-quarter (QoQ) rolling 12 month median price increased slightly over the same period in 2016 to $412,506 while the QoQ rolling 12 month average price rose to $740,833, up 3.5% from the end of Q3 2016.

 

  • There were 959 single family closings during the third quarter, down from 1075 in Q3 2016.

 

  • Months-of-supply at the end of the quarter stands at 6.6 months, approximately the same as this time last year.

 

Condominiums

  • The QoQ rolling 12 month median price increased 3.9% over the same period last year, while the rolling 12 month average price is $419,963, up 4.9% from the end of Q3 2016.

 

  • There were 902 closings in Q3 2017 compared to 930 in Q3 2016.

 

  • Months-of-supply at the end of the quarter did not change from the same period a year ago and stands at 6.2 months.

 

 

 

 

 

 

 

BONITA  SPRINGS AND ESTERO

Single Family Homes

  • The QoQ rolling 12 month median price was similar to the third quarter last year at $396,563 while the rolling 12 month average price rose 4.5% to $526,565.

 

  • There were 290 closings during the quarter compared to 343 in Q3 2016.

 

  • Months-of-supply at the end of the quarter stands at 5.3 months, down from 6 months at the same time last year.

 

Condominiums

  • The QoQ rolling 12 month median price was $240,135 at the end of Q3 2017, a decrease of 2.5% from the same quarter last year. The QoQ 12 month average price was down 2.4% to $301,580.

 

  • The number of condominium closings during the third quarter declined to 273 compared to 333 during Q3 2016.

 

  • Months-of-supply at the end of the quarter stands at 5.4 months compared to 5.6 months at the same time last year.

 

 

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John R. Wood Properties, Bring Your Highest Expectations.

“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS, Marco Island MLS, Copyright 2017, and the proprietary compilation of that data by John R. Wood Properties, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data.”

 

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