August 2016 August 2015 CHANGE Total homes under contract (pending sales) Total closed sales 654 689 -5% Median closed price $320,000 $306,000 5% Total active listings (inventory) 4,787 3,525 36% Average days on market 88 75 13% Single-family closed sales 350 348 1% Single-family median closed price $384,000 $388,000 -1% Single-family inventory 2,554 2,025 26% Condominium closed sales 304 341 -11% Condominium median closed price $232,000 $235,000 -1% Condominium inventory 2,233 1,500 49% Geographically, overall closed sales in East Naples increased 10 percent to 136 homes in August 2016 from 124 homes in August 2015. Also impressive was the 12 percent increase in single family closed sales in the East Naples area to 91 homes in August 2016 from 81 homes in August 2015, and a 72 percent increase in condominium inventory in North Naples to 639 condominiums in August 2016 from 371 condominiums in August 2015.Broker analysts have long acknowledged that a small portion of new construction inventory appears in the Southwest Florida MLS data. To confirm such speculation, Wes Kunkle, President and Managing Broker at Kunkle International Realty, performed an independent analysis of the MLS in August and found that, "approximately 20 percent of active listings in select geographic areas of high development were new construction."If you are weighing the pros and cons of buying or selling a home in the coming months, let a REALTOR® be your guide. A REALTOR® can help you do a market comparison and determine a fair and reasonable listing price. A REALTOR® can also identify properties best suited for your needs and negotiate a purchase price that fits your budget.
The share of renters opting to renew their leases hit an all-time high of 53.8% through the first seven months of the year, up from 52.9% in 2015, according to new data from property management software provider RealPage.
Mortgage rates took their biggest leap in two months on Friday, thanks to a sell-off in the U.S. bond market. It was only an eighth of a percentage point move...
But even if the Federal Reserve raises its funds rate this month, mortgage rates may not move much higher. After the central bank made its first increase last December, mortgage rates moved up briefly, but then fell again.
