Naples Florida Real Estate Market News –
February 2021
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 February 28, 2021 for the luxury market from Port Royal to Bonita Beach Road Area increased 48% year-over-year (574 vs 388).
NEW LISTINGS / INVENTORY
- During the 12 months ending February 28, 2021, a total of 663 new listings were added to the market, an increase of 4% compared to the same time period 12 months ending February 29, 2020.
- Available inventory as of February 28, 2021 consisted of 310 units, a decrease of 33% vs the same time period in 2020 (310 vs 466). Current inventory represents 6 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE
- The year-over-year average sales price for the area was $3,922,354, an increase of 9% vs the same time period in 2020.
- The median sales price for the area in February 2021 increased 26% to $3,470,000 vs February 2020.
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 February 28, 2021 for the luxury market from Port Royal to Bonita Beach Road Area increased 59% year-over-year (607 vs 381).
NEW LISTINGS / INVENTORY
- During the 12 months ending February 28, 2021, a total of 762 new listings were added to the market, an increase of 22% vs the same time period 12 months ending February 29, 2020.
- Available inventory as of February 28, 2021 consisted of 328 units, a 25% decrease vs the same time period in 2020. Current inventory represents 5 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE
- The year-over-year average sales price for the area was $2,117,255, remaining relatively the same with a decrease of less than 1% vs the same time period in 2020.
- The median sales price for the area in February 2021 increased 17% to $1,880,000 vs February 2020.
“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS. Copyright 2021 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.”