The Naples area housing market enjoyed another 7 percent increase – Naples Real Estate Sept 2019
The September report showed median closed prices remained stable during the third quarter (July, August & September). In July, the median closed price was $326,400. By September, the median closed price had dropped slightly to $325,000, which is only a .7 percent decrease from September 2018, which reported a median closed price of $327,408. Interestingly, the median closed price in January 2019 was $325,000. With over 500 listings pulled from the MLS in September, it is no surprise that overall inventory for the month fell. However, even though it decreased 17.8 percent to 4,989 homes compared to 6,070 homes in September 2018, inventory for September was higher than August by 72 homes. The NABOR® September 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:
| CATEGORIES | SEPT 2018 | SEPT 2019 | CHANGE |
| Total closed sales (month/month) | 651 | 698 | +7.2% |
| Median closed price (month/month) | $327,408 | $325,000 | -0.7% |
| Total active listings (inventory) | 6,070 | 4,989 | -17.8% |
| Average days on market | 93 | 102 | +9.7% |
| Single-family closed sales (month/month) | 321 | 359 | +11.8% |
| Single-family median closed price (month/month) | $395,000 | $405,000 | +2.5% |
| Single-family inventory | 3,208 | 2,567 | -20.0% |
| Condominium closed sales (month/month) | 330 | 339 | +2.7% |
| Condominium median closed price (month/month) | $242,250 | $245,000 | +1.1% |
| Condominium inventory | 2,862 | 2,422 | -15.4% |
As noted by brokers reviewing the housing data, September had a 6-month supply of inventory. “Inventory levels are always low in September,” said Bill Coffey, Broker Manager of Amerivest Realty Naples. “You’re going to see those homes that were pulled off the MLS on the market again in the next few months. But it’s too bad because buyers who don’t have options in the resale market in Naples now are not waiting for more homes to come onto the market, but instead are buying resale homes in Lee County or even further north.” Geographically, condominiums in South Naples (34112, 34113) saw a 22.1 percent spike in its median closed prices to $213,000 in September 2019 from $174,500 in September 2018. Alternately, condominiums in North Naples saw a 16.4 percent decrease in median closed prices to $242,500 in September 2019 from $290,000 in September 2018.
View the September 2019 Market Statistics
Reprint from NABOR Market Report – To view the entire report, visit http://www.NaplesArea.com
