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

Naples Florida Real Estate Market News –
March 2018

LUXURY MARKET

SINGLE FAMILY

CLOSED SALES

  • The number of closed sales in the 12 months ending March 31, 2018 for the luxury market from Port Royal to Bonita Beach Road area improved 11% year-over-year (346 vs 312).

 

NEW LISTINGS/INVENTORY

  • During the 12 months ending March 31, 2018, a total of 652 new listings were added to the market, this is approximately 3% fewer listings than the same time period 12 months ending March 31, 2017.
  • Available inventory as of March 31, 2018 consisted of 480 units, a decrease of 13% vs the same time period in 2017. Current inventory represents 12 months of supply based on current absorption rates.

 

AVERAGE AND MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $3,034,969, which decreased 6% vs the same time period in 2017.
  • The median sales price for the area increased 26% to $3,215,000 vs 2017.

 



CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending March 31, 2018 for the luxury market from Port Royal to Bonita Beach Road area improved 58% year-over-year (471 vs 299).

 

NEW LISTINGS/INVENTORY

  • During the 12 months ending March 31, 2018, a total of 653 new listings were added to the market, an increase of approximately 12% vs the same time period, 12 months ending March 31, 2017.
  • Available inventory as of March 31, 2018 consisted of 390 units, a decrease of 17% vs the same time period in 2017. Current inventory represents 8 months of supply based on current absorption rates.

 

AVERAGE AND MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $1,866,272, a decrease of 5% vs the same time period in 2017.
  • The median sales price for the area increased 11% to $1,455,000 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.”