In the month of February, Closed Sales on Single Family Homes remained almost the same as the year before, with 824 closings. There was an increase in the number of Condo closings with 438. The number of active listings rose for both Single Family and Condos. There were 6,279 Single Family Homes and 3,721 Condos active in February. Pending Sales were also slightly up for both categories.

The Median Sale Price for a Single Family Home was up 13% year-over-year, going from almost $217,000 in 2016 to $245,000 in 2017.

The statistics show that homes spent more time on the market than they did this time last year. A Single Family Home spent 70 days on the market, compared to 51 days in February 2016. The Months Supply of Inventory rose again last month to 6.0, compared to 5.4 last year.

Broken down by city, Cape Coral and Fort Myers Beach had the biggest drops in the number of closed sales. Sanibel/Captiva had the biggest jump year-over-year.

There was also a significant increase in the number of homes that sold in the $400,000- $599,999 range, with 117 closed sales in February. Condos sales in the same price range were up more than 54%.

Media Contact: Laura Shay laura@rpcra.org

FEBRUARY MARKET REPORT SHOWS MORE CHOICES & BETTER PRICES

Naples, Fla. (March 17, 2017) – Overall inventory rose yet prices remained stable in February according to broker analysts who reviewed the February 2017 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island) using the Southwest Florida MLS. Overall pending sales (homes under contract) and overall closed sales also increased in …

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