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

Naples Florida Real Estate Market News –
February 2018

LUXURY MARKET

 

 

 

SINGLE FAMILY

CLOSED SALES

  • The number of closed sales in the 12 months ending February 28, 2018 for the luxury market from Port Royal to Bonita Beach Road area improved 19% year-over-year (350 vs 293).

 

NEW LISTINGS/INVENTORY

  • During the 12 months ending February 28, 2018, a total of 609 new listings were added to themarket, this is approximately 12% fewer listings than the same time period 12 months endingFebruary 28, 2017.
  • Available inventory as of February 28, 2018 consisted of 459 units, a decrease of 18% vs the sametime period in 2017. Current inventory represents 13 months of supply based on current absorptionrates.

 

AVERAGE AND MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $3,016,416, which decreased 4% vs thesame time period in 2017.
  • The median sales price for the area decreased less than 5% to $2,306,062 vs 2017.

 



CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending February 28, 2018 for the luxury market from Port Royal to Bonita Beach Road area improved 57% year-over-year (458 vs 292).

 

NEW LISTINGS/INVENTORY

  • During the 12 months ending February 28, 2018, a total of 648 new listings were added to themarket, an increase of approximately 13% vs the same time period, 12 months endingFebruary 28, 2017.
  • Available inventory as of February 28, 2018 consisted of 403 units, a decrease of 12% vs thesame time period in 2017. Current inventory represents 8 months of supply based on currentabsorption rates.

 

AVERAGE AND MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $1,911,244, a decrease less than 1% vs thesame time period in 2017.
  • The median sales price for the area increased 11% to $1,606,875 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.”