Naples Florida Real Estate Market News –
August 2019
LUXURY MARKET
LUXURY MARKET $1M+ (WEST OF 41)
PORT ROYAL TO BONITA BEACH ROAD – SINGLE FAMILY PROPERTIES
CLOSED SALES
- The number of closed sales in the 12 months ending August 31, 2019 for the luxury market from Port Royal to Bonita Beach Road area increased 4% year-over-year (369 vs 355).
NEW LISTINGS / INVENTORY
- During the 12 months ending August 31, 2019, a total of 652 new listings were added to the market, this is approximately 7% more listings than the same time period 12 months ending August 31, 2018.
- Available inventory as of August 31, 2019 consisted of 333 units, a decrease of 3% vs the same time period in 2018. Current inventory represents 11 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE
- The year-over-year average sales price for the area was $3,822,571, which increased 18% vs the same time period in 2018.
- The median sales price for the area increased 16% to $2,756,979 vs $2,378,125 in 2018.
LUXURY MARKET $1M+ (WEST OF 41)
PORT ROYAL TO BONITA BEACH ROAD – CONDOMINIUMS
CLOSED SALES
- The number of closed sales in the 12 months ending August 31, 2019 for the luxury market from Port Royal to Bonita Beach Road area decreased 14% year-over-year (379 vs 441).
NEW LISTINGS / INVENTORY
- During the 12 months ending August 31, 2019, a total of 627 new listings were added to the market, a decrease of 3% vs the same time period, 12 months ending August 31, 2018.
- Available inventory as of August 31, 2019 consisted of 283 units, an increase of 1% vs the same time period in 2018. Current inventory represents 9 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE
- The year-over-year average sales price for the area was $2,002,974, an increase of 6% vs the same time period in 2018.
- The median sales price for the area decreased 1% to $1,630,313 vs $1,620,167 in 2018.
“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS. Copyright 2019 Southwest Florida MLS. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it. Naples Florida Monthly Real Estate Market Update is provided by Dustin Beard.”