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Naples Florida Real Estate Market News –
March 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 March 31, 2021 for the luxury market from Port Royal to Bonita Beach Road Area increased 50% year-over-year (617 vs 410).

NEW LISTINGS / INVENTORY

  • During the 12 months ending March 31, 2021, a total of 713 new listings were added to the market, an increase of 13% compared to the same time period 12 months ending March 31, 2020.
  • Available inventory as of March 31, 2021 consisted of 317 units, a decrease of 29% vs the same time period in 2020 (317 vs 446). Current inventory represents 3.4 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $4,044,356, an increase of 11% vs the same time period in 2020.
  • The median sales price for the area in March 2021 increased 30% to $3,912,500 vs March 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 March 31, 2021 for the luxury market from Port Royal to Bonita Beach Road Area increased 62% year-over-year (657 vs 405).

NEW LISTINGS / INVENTORY

  • During the 12 months ending March 31, 2021, a total of 824 new listings were added to the market, an increase of 33% vs the same time period 12 months ending March 31, 2020.
  • Available inventory as of March 31, 2021 consisted of 329 units, a 17% decrease vs the same time period in 2020. Current inventory represents 3 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $2,102,193, a decrease of 3% vs the same time period in 2020.
  • The median sales price for the area in March 2021 decreased 17% to $1,650,000 vs March 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.”

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