Naples Florida Real Estate Market News –
May 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 May 31, 2021 for the luxury market from Port Royal to Bonita Beach Road Area increased 120% year-over-year (758 vs 345).
NEW LISTINGS / INVENTORY
During the 12 months ending May 31, 2021, a total of 754 new listings were added to the market, an increase of 20% compared to the same time period 12 months ending May 31, 2020.
Available inventory as of May 31, 2021 consisted of 232 units a 45% decrease vs the same time period in 2020 (232 vs 419). 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 $4,112,285 an increase of 13% vs the same time period in 2020.
The median sales price for the area in May 2021 decreased 6% to $3,350,000 vs May 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 May 31, 2021 for the luxury market from Port Royal to Bonita Beach Road Area increased 145% year-over-year (834 vs 340).
NEW LISTINGS / INVENTORY
During the 12 months ending May 31, 2021, a total of 874 new listings were added to the market, an increase of 42% vs the same time period 12 months ending May 31, 2020.
Available inventory as of May 31, 2021 consisted of 211 units, a 43% decrease vs the same time period in 2020. Current inventory represents 2.2 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE
The year-over-year average sales price for the area was $2,111,106, 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 May 2021 increased 10% to $1,858,750 vs May 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.”