Southwest Florida Real Estate Market Report 
Market Report



Southwest Florida Area Real Estate Market Report

August Home Sales Strong as Prices Hold Steady

 

Naples, Fla. (September 20, 2019) - Closed sales of homes in Collier County increased 7.4 percent in August, but overall inventory fell 17.8 percent to 4,917 properties compared to 5,980 in August 2018, according to the August 2019 Market Report released by the Naples Area Board of REALTORS (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). This reduction in inventory - which included 616 homes that were either terminated, expired or withdrawn from the Southwest Florida MLS in August - resulted in a six-month supply of inventory for Collier County at the end of August.


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The August ShowingTime report indicated that local REALTORS scheduled 16,878 appointments during August. This is an increase of 16 percent compared to showings in August 2018. On average, a home in the Naples area is shown 16 times before it secures a contract.

Broker analysts reviewing the August Report are leery of sales activity next year as sellers will face market uncertainty brought on by a presidential election. In the third quarter of 2016 - right before the last presidential election - overall closed sales in Collier County decreased 14 percent compared to closed sales during the third quarter of 2015.

Incidentally, the $300,000 to $500,000 price category led closed sales in August with a 10.1 percent increase followed by closed sales of properties under $300,000, which increased 6.5 percent. Closed sales of homes between $1,000,000 and $2,000,000 decreased 5.7 percent.

The median closed price in August decreased just 0.2 percent to $317,918, which is only $582 lower than the median closed price in August 2018 ($318,500). In fact, price increases have only been reported in two of the last 12 months (October 2018, 3.7%; and April 2019, 3.4%).

The NABOR® August 2019 Market Reports provide comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. NABOR® sales statistics are presented in chart format, including these overall (single-family and condominium) findings: 

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AUG 2018

AUG 2019

CHANGE

Total closed sales (month/month)

741

796

+7.4%

Median closed price (month/month)

$318,500

$317,918

-0.2%

Total active listings (inventory)

5,980

4,917

-17.8%

Average days on market 

99

103

+4.0%

Single-family closed sales (month/month)

356

417

+17.1%

Single-family median closed price (month/month)

$405,000

$399,000

-1.5%

Single-family inventory

3,147

2,523

-19.8%

Condominium closed sales (month/month)

385

379

-1.6%

Condominium median closed price (month/month)

$250,000

$245,000

-2.0%

Condominium inventory

2,833

2,394

-15.5%

 

Geographically, closed sales of single-family homes in the East Naples are (34114, 34117, 34120, 34137) increased the most in August by 35.6 percent followed by closed sales of single-family homes in North Naples (34109, 34110, 34119), which increased 15.6 percent.

 

View the August 2019 Market Statistics