Q1 HOUSING MARKET ACTIVITY SETS STAGE FOR STRONG YEAR

Sales of homes above $1 million in Naples during the first quarter of 2018 drove the market. Their sales increased 61 percent compared to the same quarter of 2017, according to the First Quarter 2018 Market Report released by the Naples Area Board of REALTORS (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island). January had 672 closed sales, February had 672 closed sales, and March had 942 closed sales, driven by a strong high end, which included a number of new construction condominiums just delivered, according to NABOR’s monthly reports. Pending sales in the first quarter of 2018 increased 3 percent to 3,177 compared with 3,097 in the first quarter of 2017. Pending sales for both single-family homes and condominiums over $1 million increased by double digits. Closed sales of condominiums in the $2 million and above market increased by 69 percent in the 12-months ending in the first quarter of 2018, versus the 12-months ending in the first quarter of 2017. To view the entire report, visit naplesarea.com.
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