Monthly Market Detail - April 2018 Single Family Homes · 2018-05-25 · of the real estate industry in a market, and is of particular interest to real estate professionals, investors,

Produced by Florida Realtors® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.

Data released on Thursday, May 24, 2018. Next data release is Wednesday, June 20, 2018.

Economists' note : Closed Sales are one of the simplest—yet most

important—indicators for the residential real estate market. When

comparing Closed Sales across markets of different sizes, we

recommend comparing the percent changes in sales rather than the

number of sales. Closed Sales (and many other market metrics) are

affected by seasonal cycles, so actual trends are more accurately

represented by year-over-year changes (i.e. comparing a month's sales

to the amount of sales in the same month in the previous year), rather

than changes from one month to the next.

March 2018 500 3.5%

-6.6%

-5.7%

February 2018 327

January 2018 296

0.4%

July 2017 407

June 2017 494

7.7%

4.0%

23.0%

1.3%

-0.7%

-44.1%

6.2%

4.9%

May 2017 551

April 2017 459

September 2017 198

August 2017 429

December 2017 388

November 2017 303

October 2017 345

93.8% 0.2%

77 Days 105 Days -26.7%

April 2018

Median Time to Contract

120 Days

623

Median Time to Sale

New Pending Sales

New Listings

Month

553

Pending Inventory 994

Inventory (Active Listings) 3,235

Months Supply of Inventory 8.2

-18.4%

596 4.5%

Percent Change

Year-over-Year

$454,970 5.5%

$490.9 Million $389.6 Million 26.0%

$972,116 $848,816 14.5%

April 2017Percent Change

Year-over-Year

252 206 22.3%

505 459 10.0%

Summary Statistics

Closed Sales

Paid in Cash

94.0%

April 2018

$480,000Median Sale Price

Average Sale Price

Dollar Volume

Median Percent of Original

List Price Received

Year-to-Date 1,628 1.4%

10.0%

520 6.3%

Closed Sales

505

147 Days

925 7.5%

3,562 -9.2%

9.1 -9.9%

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A

Monthly Market Detail - April 2018

Collier County

Single Family Homes

Closed SalesThe number of sales transactions which closed duringthe month

2014 2015 2016 2017

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44.9% -8.4%

July 2017 33.7%

August 2017 160 8.1%

July 2017

192 29.7%

May 2017 240 46.3%

1.2%

June 2017 38.9%

Economists' note : This statistic is simply another way of viewing

Cash Sales. The remaining percentages of Closed Sales (i.e. those not

paid fully in cash) each month involved some sort of financing, such as

mortgages, owner/seller financing, assumed loans, etc.

Economists' note : Cash Sales can be a useful indicator of the extent to

which investors are participating in the market. Why? Investors are

far more likely to have the funds to purchase a home available up front,

whereas the typical homebuyer requires a mortgage or some other

form of financing. There are, of course, many possible exceptions, so

this statistic should be interpreted with care.

Year-to-Date 45.2% -1.1%

MonthPercent of Closed

Sales Paid in Cash

Percent Change

Year-over-Year

May 2017 43.6% 19.1%

April 2017

April 2017 206 -8.0%

June 2017

24.7%

December 2017 38.4% -12.9%

November 2017 39.3% -6.4%

October 2017 31.6% -8.9%

September 2017 40.9% 14.9%

August 2017 37.3% 1.9%

February 2018 44.0% -6.2%

January 2018 40.2% -16.4%

April 2018 49.9% 11.1%

March 2018 44.2% 0.2%

137 8.7%

119 -21.2%

December 2017 149 -11.8%

September 2017 81 -35.7%

November 2017 119 -7.0%

October 2017 109 -4.4%

January 2018

Month Cash SalesPercent Change

Year-over-Year

April 2018 252 22.3%

March 2018 221 3.8%

February 2018 144 -12.2%

Year-to-Date 736 0.3%



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2014 2015 2016 2017

Collier County

Single Family Homes

Cash SalesThe number of Closed Sales during the month in whichbuyers exclusively paid in cash

2014 2015 2016 2017

Cash Sales as a Percentage of Closed SalesThe percentage of Closed Sales during the monthwhich were Cash Sales



8.5%$884,138Year-to-Date

Economists' note : Median Sale Price is our preferred summary

statistic for price activity because, unlike Average Sale Price, Median

Sale Price is not sensitive to high sale prices for small numbers of

homes that may not be characteristic of the market area. Keep in mind

that median price trends over time are not always solely caused by

changes in the general value of local real estate. Median sale price only

reflects the values of the homes that sold each month, and the mix of

the types of homes that sell can change over time.

Economists' note : Usually, we prefer Median Sale Price over Average

Sale Price as a summary statistic for home prices. However, Average

Sale Price does have its uses—particularly when it is analyzed

alongside the Median Sale Price. For one, the relative difference

between the two statistics can provide some insight into the market for

higher-end homes in an area.May 2017 $842,583 6.7%

April 2017 $848,816 1.1%

July 2017 $714,555 -1.6%

June 2017 $687,037 -2.7%

December 2017 $714,725 3.0%

November 2017 $733,688 3.7%

October 2017 $681,760 1.7%

September 2017 $754,638 24.0%

August 2017 $737,041 32.0%

February 2018 $931,825 15.4%

January 2018 $717,316 -4.8%

April 2018 $972,116 14.5%

March 2018 $862,851 4.1%

April 2017 $454,970 -2.2%

Month Average Sale PricePercent Change

Year-over-Year

June 2017 $416,250 -2.1%

May 2017 $455,000 -1.6%

August 2017 $436,000 11.8%

July 2017 $415,000 3.4%

$438,500 1.4%

December 2017 $449,500 -0.1%

September 2017 $456,500 14.2%

March 2018 $477,900 6.2%

February 2018 $491,000 15.9%

November 2017 $439,900 2.3%

October 2017 $425,000 11.8%

January 2018

Month Median Sale PricePercent Change

Year-over-Year

April 2018 $480,000 5.5%

Year-to-Date $469,000 6.9%



$0K

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2014 2015 2016 2017

Collier County

Single Family Homes

Median Sale PriceThe median sale price reported for the month (i.e. 50% of sales were above and 50% of sales were below)

2014 2015 2016 2017

Average Sale PriceThe average sale price reported for the month (i.e. total sales in dollars divided by the number of sales)



93.8% -0.8%

July 2017 93.4%

August 2017 $316.2 Million 40.1%

July 2017

$339.4 Million 1.2%

May 2017 $464.3 Million 31.2%

-0.8%

June 2017 93.2%

Economists' note : The Median Percent of Original List Price Received

is useful as an indicator of market recovery, since it typically rises as

buyers realize that the market may be moving away from them and

they need to match the selling price (or better it) in order to get a

contract on the house. This is usually the last measure to indicate a

market has shifted from down to up, so it is what we would call a

lagging indicator.

Economists' note : Dollar Volume is simply the sum of all sale prices

in a given time period, and can quickly be calculated by multiplying

Closed Sales by Average Sale Price. It is a strong indicator of the health

of the real estate industry in a market, and is of particular interest to

real estate professionals, investors, analysts, and government agencies.

Potential home sellers and home buyers, on the other hand, will likely

be better served by paying attention to trends in the two components

of Dollar Volume (i.e. sales and prices) individually.

0.4%94.2%Year-to-Date

MonthMed. Pct. of Orig.

List Price Received

Percent Change

Year-over-Year

May 2017 92.9% -1.4%

April 2017

April 2017 $389.6 Million 1.5%

June 2017

-0.9%

December 2017 94.4% 0.5%

November 2017 93.4% -1.2%

October 2017 93.5% -1.0%

September 2017 93.8% -0.1%

August 2017 93.5% -1.1%

February 2018 94.2% 0.2%

January 2018 93.8% -0.6%

April 2018 94.0% 0.2%

March 2018 94.7% 1.4%

$290.8 Million 6.0%

January 2018 $212.3 Million -10.2%

December 2017 $277.3 Million 4.4%

November 2017 $222.3 Million 3.0%

October 2017 $235.2 Million 6.7%

September 2017 $149.4 Million -30.7%

March 2018 $431.4 Million 7.8%

February 2018 $304.7 Million 7.8%

Month Dollar VolumePercent Change

Year-over-Year

April 2018 $490.9 Million 26.0%

Year-to-Date $1.4 Billion 10.0%



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2014 2015 2016 2017

Collier County

Single Family Homes

Dollar VolumeThe sum of the sale prices for all sales which closed during the month

2014 2015 2016 2017

Median Percent of Original List Price ReceivedThe median of the sale price (as a percentage of the original list price) across all properties selling during the month



April 2017 147 Days 16.7%

Economists' note : Time to Sale is a measure of the length of the home

selling process, calculated as the number of days between the initial

listing of a property and the closing of the sale. Median Time to Sale is

the amount of time the "middle" property selling this month was on

the market. That is, 50% of homes selling this month took less time to

sell, and 50% of homes took more time to sell. Median Time to Sale

gives a more accurate picture than Average Time to Sale, which can be

skewed upward by small numbers of properties taking an abnormally

long time to sell.

Economists' note : Like Time to Sale, Time to Contract is a measure of

the length of the home selling process calculated for sales which closed

during the month. The difference is that Time to Contract measures

the number of days between the initial listing of a property and the

signing of the contract which eventually led to the closing of the sale.

When the gap between Median Time to Contract and Median Time to

Sale grows, it is usually a sign of longer closing times and/or declining

numbers of cash sales.

June 2017 140 Days 10.2%

May 2017 147 Days 26.7%

August 2017 151 Days 2.7%

July 2017 157 Days 18.0%

January 2018 140 Days 12.9%

December 2017 161 Days 3.9%

November 2017 175 Days 25.9%

October 2017 164 Days 21.5%

September 2017 172 Days 24.6%

March 2018 124 Days -12.1%

February 2018 147 Days 6.5%

Month Median Time to SalePercent Change

Year-over-Year

April 2018 120 Days -18.4%

-7.9%129 DaysYear-to-Date

May 2017 103 Days 41.1%

April 2017 105 Days 34.6%

105 Days 31.3%

June 2017 97 Days 26.0%

July 2017

December 2017 113 Days 6.6%

November 2017 124 Days 45.9%

October 2017 113 Days 34.5%

September 2017 108 Days 13.7%

August 2017 97 Days 1.0%

MonthMedian Time to

Contract

Percent Change

Year-over-Year

April 2018 77 Days -26.7%

87 Days -12.1%Year-to-Date

March 2018 81 Days -18.2%

February 2018 109 Days 9.0%

January 2018 86 Days -1.1%


J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A0

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tMonthly Market Detail - April 2018

2014 2015 2016 2017

Collier County

Single Family Homes

Median Time to ContractThe median number of days between the listing date and contract date for all Closed Sales during the month

2014 2015 2016 2017

Median Time to SaleThe median number of days between the listing date and closing date for all Closed Sales during the month




May 2017 497 -11.6%

December 2017 509 7.8%

November 2017 610 -2.9%

October 2017 452 -23.6%

September 2017

April 2017 520 -16.7%

July 2017 453 10.2%

June 2017 491 1.9%

153 -69.8%

August 2017 514 7.1%

February 2018 722 3.1%

January 2018 829 -2.0%

April 2018 553 6.3%

March 2018 705 1.4%

April 2017 596 0.3%

Month New ListingsPercent Change

Year-over-Year

June 2017 481 11.1%

May 2017 591 25.5%

August 2017 483 12.1%

July 2017 430 6.7%

October 2017 344 -7.8%

January 2018 507 0.2%

December 2017 367 -3.2%

6.6%

February 2018 558 7.3%

November 2017 413 11.6%

Economists' note : New Listings tend to rise in delayed response to

increasing prices, so they are often seen as a lagging indicator of

market health. As prices rise, potential sellers raise their estimations

of value—and in the most recent cycle, rising prices have freed up

many potential sellers who were previously underwater on their

mortgages. Note that in our calculations, we take care to not include

properties that were recently taken off the market and quickly relisted,

since these are not really new listings.

Economists' note : Because of the typical length of time it takes for a

sale to close, economists consider Pending Sales to be a decent

indicator of potential future Closed Sales. It is important to bear in

mind, however, that not all Pending Sales will be closed successfully.

So, the effectiveness of Pending Sales as a future indicator of Closed

Sales is susceptible to changes in market conditions such as the

availability of financing for homebuyers and the inventory of

distressed properties for sale.

Month New Pending SalesPercent Change

Year-over-Year

April 2018 623 4.5%


September 2017 183 -52.3%

March 2018 665



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2014 2015 2016 2017

Collier County

Single Family Homes

New Pending SalesThe number of listed properties that went under contract during the month

2014 2015 2016 2017

New ListingsThe number of properties put onto the market during the month



March 2018 3,375 -10.7%

February 2018 3,416 -9.1%

Month InventoryPercent Change

Year-over-Year

April 2018 3,235 -9.2%

3,322 -10.1%YTD (Monthly Avg)

-11.2%

December 2017 2,980 -11.7%

November 2017 2,894 -14.5%

January 2018 3,262

2,962 -1.1%

October 2017 2,722 -13.2%

September 2017 2,688 -10.3%

August 2017 2,889 -1.6%

July 2017

April 2018 8.2 -9.9%

March 2018 8.6 -11.3%

February 2018 8.8 -10.2%

January 2018 8.3 -14.4%

December 2017 7.6 -14.6%

November 2017 7.4 -16.9%

October 2017 6.9 -16.9%

September 2017 6.9 -12.7%

-2.4%

August 2017 7.1 -6.6%

July 2017 7.4 -5.1%

April 2017 3,562 4.2%

June 2017 3,124 -1.5%

May 2017 3,322 0.4%

Economists' note : There are a number of ways to define and calculate

Inventory. Our method is to simply count the number of active listings

on the last day of the month, and hold this number to compare with the

same month the following year. Inventory rises when New Listings are

outpacing the number of listings that go off-market (regardless of

whether they actually sell). Likewise, it falls when New Listings aren't

keeping up with the rate at which homes are going off-market.

Economists' note : MSI is a useful indicator of market conditions. The

benchmark for a balanced market (favoring neither buyer nor seller) is

5.5 months of inventory. Anything higher is traditionally a buyers'

market, and anything lower is a sellers' market. There is no single

accepted way of calculating MSI. A common method is to divide

current Inventory by the most recent month's Closed Sales count, but

this count is a usually poor predictor of future Closed Sales due to

seasonal cycles. To eliminate seasonal effects, we use the 12-month

average of monthly Closed Sales instead.

YTD (Monthly Avg) 8.5 -11.5%

Month Months SupplyPercent Change

Year-over-Year

April 2017 9.1 4.6%

June 2017 7.8 -4.9%

May 2017 8.3



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2014 2015 2016 2017

Collier County

Single Family Homes

Inventory (Active Listings)The number of property listings active at the end of the month

2014 2015 2016 2017

Months Supply of InventoryAn estimate of the number of months it will take to deplete the current Inventory given recent sales rates



$100,000 - $149,999 3 50.0%

Sale Price Closed SalesPercent Change

Year-over-Year

Less than $50,000 0 N/A

$50,000 - $99,999 1 N/A

$150,000 - $199,999 7 0.0%

$200,000 - $249,999 17 -54.1%

$50,000 - $99,999 1 Day N/A

$100,000 - $149,999

$400,000 - $599,999 135 18.4%

$600,000 - $999,999 81 1.3%

17 Days 54.5%

Economists' note: Closed Sales are one of the simplest—yet most

important—indicators for the residential real estate market. When

comparing Closed Sales across markets of different sizes, we

recommend comparing the percent changes in sales rather than the

number of sales. Closed Sales (and many other market metrics) are

affected by seasonal cycles, so actual trends are more accurately

represented by year-over-year changes (i.e. comparing a month's sales

to the amount of sales in the same month in the previous year), rather

than changes from one month to the next.

Sale PriceMedian Time to

Contract

Percent Change

Year-over-Year

Less than $50,000 (No Sales) N/A

$1,000,000 or more 109 39.7%

$250,000 - $299,999 53 -11.7%

$300,000 - $399,999 99 22.2%

Economists' note : Like Time to Sale, Time to Contract is a measure of

the length of the home selling process calculated for sales which closed

during the month. The difference is that Time to Contract measures

the number of days between the initial listing of a property and the

signing of the contract which eventually led to the closing of the sale.

When the gap between Median Time to Contract and Median Time to

Sale grows, it is usually a sign of longer closing times and/or declining

numbers of cash sales.

$150,000 - $199,999 49 Days 28.9%

$200,000 - $249,999 28 Days -45.1%

$250,000 - $299,999

$400,000 - $599,999 61 Days -41.3%

56 Days -17.6%

$300,000 - $399,999 68 Days -37.0%

$600,000 - $999,999 90 Days -37.5%

$1,000,000 or more 134 Days -10.1%

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$50,000 -$99,999

$100,000 -$149,999

$150,000 -$199,999

$200,000 -$249,999

$250,000 -$299,999

$300,000 -$399,999

$400,000 -$599,999

$600,000 -$999,999

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April 2017 April 2018

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Less than$50,000

$50,000 -$99,999

$100,000 -$149,999

$150,000 -$199,999

$200,000 -$249,999

$250,000 -$299,999

$300,000 -$399,999

$400,000 -$599,999

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Collier County

Single Family Homes

Closed Sales by Sale PriceThe number of sales transactions which closed during the month

Median Time to Contract by Sale PriceThe median number of days between the listing date and contract date for all Closed Sales during the month



Initial Listing Price New ListingsPercent Change

Year-over-Year


$50,000 - $99,999 1 0.0%

$100,000 - $149,999 2 -60.0%

Economists' note: New Listings tend to rise in delayed response to

increasing prices, so they are often seen as a lagging indicator of

market health. As prices rise, potential sellers raise their estimations

of value—and in the most recent cycle, rising prices have freed up

many potential sellers who were previously underwater on their

mortgages. Note that in our calculations, we take care to not include

properties that were recently taken off the market and quickly relisted,

since these are not really new listings.

$150,000 - $199,999 4 -33.3%

$200,000 - $249,999 31 6.9%

$250,000 - $299,999 42 -37.3%

$300,000 - $399,999 121 21.0%

$400,000 - $599,999 157 16.3%

$600,000 - $999,999 93 3.3%

$1,000,000 or more 102 17.2%

Current Listing Price InventoryPercent Change

Year-over-Year


$50,000 - $99,999 1 -75.0%

$100,000 - $149,999 1 -92.9%

Economists' note : There are a number of ways to define and calculate

Inventory. Our method is to simply count the number of active listings

on the last day of the month, and hold this number to compare with the

same month the following year. Inventory rises when New Listings are

outpacing the number of listings that go off-market (regardless of

whether they actually sell). Likewise, it falls when New Listings aren't

keeping up with the rate at which homes are going off-market.

$150,000 - $199,999 16 -20.0%

$200,000 - $249,999 58 -12.1%

$250,000 - $299,999 181 -12.1%

$300,000 - $399,999 472 1.7%

$400,000 - $599,999 877 -3.6%

$600,000 - $999,999 672 -4.8%

$1,000,000 or more 957 -18.3%

0

200

400

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800

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1,400

Less than$50,000

$50,000 -$99,999

$100,000 -$149,999

$150,000 -$199,999

$200,000 -$249,999

$250,000 -$299,999

$300,000 -$399,999

$400,000 -$599,999

$600,000 -$999,999

$1,000,000 ormore

Inve

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020406080

100120140160180

Less than$50,000

$50,000 -$99,999

$100,000 -$149,999

$150,000 -$199,999

$200,000 -$249,999

$250,000 -$299,999

$300,000 -$399,999

$400,000 -$599,999

$600,000 -$999,999

$1,000,000 ormore

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020406080100120140160180


Collier County

Single Family Homes

New Listings by Initial Listing PriceThe number of properties put onto the market during the month

Inventory by Current Listing PriceThe number of property listings active at the end of the month

Closed Sales

Median Sale Price

Closed Sales

Median Sale Price

Closed Sales

Median Sale Price



April 2018 April 2017Percent Change

Year-over-Year

Traditional

501 440 13.9%

$480,000 $460,000 4.3%

Foreclosure/REO

4 17 -76.5%

$267,500 $282,000 -5.1%

Short Sale

0 2 -100.0%

(No Sales) $199,450 N/A

$0

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Traditional Foreclosure/REO Short Sale

2014 2015 2016 2017



Monthly Distressed Market - April 2018

Collier CountySingle Family Homes

2014 2015 2016 2017

Documents

Monthly Market Detail - April 2018 Single Family Homes · 2018-05-25 · of the real estate industry in a market, and is of particular interest to real estate professionals, investors,