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Naples Florida Monthly Real Estate Market Update – September 2018

Naples Florida Real Estate Market News –
September 2018

 

 

NAPLES, BONITA SPRINGS AND ESTERO – SINGLE FAMILY PROPERTIES

CLOSED SALES

  • The number of closed sales in the 12 months ending September 30, 2018 for the Naples, Bonita Springs and Estero area remained relatively the same, with a decrease of less than 1% year-over-year (6,885 vs 6,908).
  • There were 27 closed sales, priced above two million, in September 2018 compared to 13 in September 2017. During the 12 months ending September 30, 2018, sales in this category increased 13% over the same time period in 2017 (404 vs 359).

NEW LISTINGS / INVENTORY

  • During the 12 months ending September 30, 2018, a total of 11,276 new listings were added to the market, this is 4% more listings than the same time period, 12 months ending September 30, 2017.
  • Available inventory as of September 30, 2018 consisted of 4,554 units, an increase of 5% vs the same time period in 2017. Current inventory represents 8 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $664,142 which improved over the same time period in 2017, representing an increase of 6%.
  • The median sales price for the area decreased 4% to $379,995 vs $395,450 in 2017.

NAPLES, BONITA SPRINGS AND ESTERO – CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending September 30, 2018 for the Naples, Bonita Springs and Estero area increased 4% year-over-year (5,744 vs 5,504).
  • There were 6 closed sales, priced above two million, in September 2018 compared to 7 in September 2017, a 14% decrease. During the 12 months ending September 30, 2018, sales in this category increased 22% over the same time period in 2017 (141 vs 116 units).

NEW LISTINGS / INVENTORY

  • During the 12 months ending September 30, 2018, a total of 9,131 new listings were added to the market, approximately 5% more listings than the same time period 12 months ending September 30, 2017.
  • Available inventory as of September 30, 2018 consisted of 3,494 units, an increase of 1% vs the same time period in 2017. Current inventory represents 7 months of supply based on current absorption rate.

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $416,462, which improved over the same time period in 2017, representing an increase of 5%.
  • The median sales price for the area remained relatively the same with an increase of 2% to $225,900 vs 2017.

LUXURY MARKET $1M+ (WEST OF 41)

PORT ROYAL TO BONITA BEACH ROAD – SINGLE FAMILY PROPERTIES

CLOSED SALES

  • The number of closed sales in the 12 months ending September 30, 2018 for the luxury market from Port Royal to Bonita Beach Road area improved 13% year-over-year (362 vs 319).

NEW LISTINGS / INVENTORY

  • During the 12 months ending September 30, 2018, a total of 628 new listings were added to the market, this is approximately 1% fewer listings than the same time period 12 months ending September 30, 2017.
  • Available inventory as of September 30, 2018 consisted of 326 units, a decrease of 9% vs the same time period in 2017. Current inventory represents 11 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $3,235,245, which decreased 4% vs the same time period in 2017.
  • The median sales price for the area increased 39% to $2,725,000 vs 2017.

 

LUXURY MARKET $1M+ (WEST OF 41)

PORT ROYAL TO BONITA BEACH ROAD – CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending September 30, 2018 for the luxury market from Port Royal to Bonita Beach Road area improved 32% year-over-year (445 vs 336).

 

NEW LISTINGS / INVENTORY

  • During the 12 months ending September 30, 2018, a total of 652 new listings were added to the market, an increase of approximately 11% vs the same time period, 12 months ending September 30, 2017.
  • Available inventory as of September 30, 2018 consisted of 265 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 & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $1,898,511, a decrease of 4% vs the same time period in 2017.
  • The median sales price for the area decrease 14% to $1,536,250 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.”