November 2016 Market News
Season is off to a good start according to the November 2106 Market reports recently released by NABOR (Naples Area Board of Realtors). Similar to years past, inventory during the month of November continued to increase when you compare this year to last year. Overall, inventory was up 40 percent.
On the flip side, both pending sales and closed sales were down double digits.
Most notably, the median sales price fell for the first time all year. The median price fell from $318,000 to $303,00 during November of 2016. This translates to a 5 percent decrease.
On the other hand, more sellers put their homes on the market. Inventory rose from 4,095 to 5,733 compared to the same time last year. So, the good news is overall inventory is increasing. However, each community is different. In fact, there are some communities where supply is extremely tight. For information abut a specific community, contact me and I’ll provide a FREE market analysis.
With more than 15 years of experience in the industry, I can share the good and the bad for each community.
November 2016 Market Highlights:
- Pending Sales were down 11 percent overall for the 12-months ending in November 2016
- Closed Sales decreased 13 percent overall for the 12-months ending in November 2016
- Median Closed Price increased 4 percent overall for the 12-month ending November 2016
- Inventory increased 40 percent overall for the 12-months ending in November 2016
Finally, the November 2016 market report provided by NABOR is also represented in a graphical format. Below is the most current real estate news for the greater Naples area.
View Full November 2016 Market Reports
Bottom Line:
Brokers expect this season to be very strong. As inventory increases, buyers will have more options to chose from.
Finally, when you are ready to purchase a single family home or condo in Naples or Bonita Springs, let me be your guide. With more than 15 years of experience I can help provide the market information and more importantly, provide insights into individual communities to help ensure you select the best property to match your needs.
About Matt Klinowski
Comments(0)