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Naples Florida Monthly Real Estate Market Update – January 2018 – LUXURY MARKET

Naples Florida Real Estate Market News –
January 2018

LUXURY MARKET

 

 

 

SINGLE FAMILY

CLOSED SALES

  • The number of closed sales in the 12 months ending January 31, 2018 for the luxury market from Port Royal to Bonita Beach Road area improved 16% year-over-year. (337 vs 291).

 

NEW LISTINGS/INVENTORY

  • During the 12 months ending January 31, 2018, a total of 612 new listings were added to the market, this is approximately 13% fewer listings than the same time period 12 months ending December 31, 2017.
  • Available inventory as of January 31, 2018 consisted of 442 units, a decrease of 15% vs the same time period in 2017. Current inventory represents 22 months of supply based on current absorption rates

AVERAGE AND MEDIAN SALES PRICE

  • The year-to-date average sales price for the area was $3,063,756, which decreased 3% vs the same time period in 2017.
  • The median sales price for the area decreased less than 5% to $2,295,229 vs 2017.

 




CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending January 31, 2018 for the luxury market from Port Royal to Bonita Beach Road area improved 44% year-over-year. (425 vs 295).

 

NEW LISTINGS/INVENTORY

  • During the 12 months ending January 31, 2018, a total of 631 new listings were added to the market, an increase of approximately 10% vs the same time period, 12 months ending December 31, 2017.
  • Available inventory as of January 31, 2018 consisted of 377 units, a decrease of 11% vs the same time period in 2017. Current inventory represents 9 months of supply based on current absorption rates.

 

AVERAGE AND MEDIAN SALES PRICE

  • The year-to-date average sales price for the area was $1,875,797, a decrease less than 4% vs the same time period in 2017.
  • The median sales price for the area increased 7% to $1,551,667 vs 2017.

 

“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS. Copyright 2018 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.”