NAPLES REAL ESTATE MARKET REPORT
Single Family Homes
• The quarterly median sales price for single family homes remained consistent with the first quarter of 2016, while the average sales price increased 4% to $793,030.
• There were 1,078 closings in the first quarter compared to 988 in the same period last year.
• Months-of-supply at the end of Q1 stands at 8.7 months vs. 7.5 months for the same period last year. This is a year-over-year increase of 16%.
• The Q1 median sales price for condominiums climbed 4% over the first quarter of 2016. Average sales price is up from $425,790 in the first quarter of 2016 to $435,439 in Q1 2017.
• There were 1,178 condominium closings in the first quarter, a 16% increase over Q1 2016.
• Months-of-supply rose from 6.2 months at the end of the first quarter in 2016 to 8.4 months at the end of Q1 2017.