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

Naples Florida Real Estate Market News –
July 2018

LUXURY MARKET

 

 

 

SINGLE FAMILY

CLOSED SALES

  • The number of closed sales in the 12 months ending July 31, 2018 for the luxury market from Port Royal to Bonita Beach Road area improved 15% year-over-year (361 vs 313).

 

NEW LISTINGS/INVENTORY

  • During the 12 months ending July 31, 2018, a total of 613 new listings were added to the market, this is approximately 8% fewer listings than the same time period 12 months ending July 31, 2017.
  • Available inventory as of July 31, 2018 consisted of 342 units, a decrease of 15% vs the same time period in 2017. Current inventory represents 11 months of supply based on current absorption rates.

 

AVERAGE AND MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $3,278,941, which increased 3% vs the same time period in 2017.
  • The median sales price for the area increased 3% to $2,360,000 vs 2017.

 



CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending July 31, 2018 for the luxury market from Port Royal to Bonita Beach Road area improved 28% year-over-year (438 vs 342).

 

NEW LISTINGS/INVENTORY

  • During the 12 months ending July 31, 2018, a total of 652 new listings were added to the market, an increase of approximately 14% vs the same time period, 12 months ending July 31, 2017.
  • Available inventory as of July 31, 2018 consisted of 262 units, a decrease of 14% vs the same time period in 2017. Current inventory represents 7 months of supply based on current absorption rates.

 

AVERAGE AND MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $1,914,319, a decrease of 2% vs the same time period in 2017.
  • The median sales price for the area increase 15% to $1,687,500 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.”