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

Naples Florida Real Estate Market News –
April 2018

LUXURY MARKET

 

 

 

SINGLE FAMILY

CLOSED SALES

  • The number of closed sales in the 12 months ending April 30, 2018 for the luxury market from Port Royal to Bonita Beach Road area improved 7% year-over-year (334 vs 312).

 

NEW LISTINGS/INVENTORY

  • During the 12 months ending April 30, 2018, a total of 632 new listings were added to the market, this is approximately 4% fewer listings than the same time period 12 months ending April 30, 2017.
  • Available inventory as of April 30, 2018 consisted of 470 units, a decrease of 9% vs the same time period in 2017. Current inventory represents 17 months of supply based on current absorption rates.

 

AVERAGE AND MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $3,105,134, which decreased 4% vs the same time period in 2017.
  • The median sales price for the area increased 9% to $3,375,000 vs 2017.

 



CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending April 30, 2018 for the luxury market from Port Royal to Bonita Beach Road area improved 60% year-over-year (470 vs 294).

 

NEW LISTINGS/INVENTORY

  • During the 12 months ending April 30, 2018, a total of 641 new listings were added to the market, an increase of approximately 13% vs the same time period, 12 months ending April 30, 2017.
  • Available inventory as of April 30, 2018 consisted of 366 units, a decrease of 17% 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-over-year average sales price for the area was $1,859,550, a decrease of 7% vs the same time period in 2017.
  • The median sales price for the area increased 5% to $1,331,500 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.”