JOHN R. WOOD MONTHLY MARKET REPORT FOR NOVEMBER 2017

MARKET REPORT for NAPLES, BONITA SPRINGS AND ESTERO   (Download the John R. Wood Market Report here). Closed Sales

• The number of closed sales year-to-date is up 3% over the the same period in 2016.
• Closed sales, priced above $2 million increased 22.5% through October compared to the same period in 2016 (424 vs. 346).  During the past 12 months, closings in this segment are up 20.9% over the prior period (457 vs. 378).
• Closings in November reflected the slow-down in September with 708 sales for the month compared to 829 in November 2016.

New Listings/Inventory

• Available inventory on December 1, 2017 consisted of 6,692 single family homes and condominiums, up from 6,537 units a year ago. This represents 6.7 months of supply based on the sales pace over the past 12 months.
• During the 12 months ending November 30, 2017 there were a total of 19,290 new listings added to the market, a decline of 5% from the prior 12 months.

Average and Median Sales Price

• Year-to-date average sales price for the area increased 3.8% to $535,864, up from $516,469 for the same period in 2016. Median closed price is up 5.1% to $326,500 vs. $310,000 in 2016.
• Average price of sales above $2 million remained static over the past 12 months at $3,723,987, an increase of less than 2%.

MAREKT REPORT for MARCO ISLAND Closed Sales

• During the 12 months ending November 30, 2017, the Marco Island area recorded 867 closings, an increase of 5% over the same period last year when there were 826 closings.
• Year-to-date 785 closings occurred compared to 779 last year.

New Listings/Inventory

• Available inventory on December 1, 2017 consisted of a total of 619 single family homes and condominiums compared to 758 at the same time last year. This represents 8.6 months of supply based on current absorption rates.
• During the 12 months ending November 30, 2017, a total of 1,303 new listings were added to the Marco Island market, down 11% from the prior 12 months.

Average and Median Sales Price

• Year-to-date average price of closed sales stands at $723,505 vs. $702,750 for the same period in 2016.
• Average sales price for the 12 months ending November 30, 2017 is $725,372, up 3.7% from last year's average of $699,774. Median price for this period increased 6.4% to $576,944.