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

Naples Florida Real Estate Market News –
November 2018

LUXURY MARKET

 

 

 

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 November 30, 2018 for the luxury market from Port Royal to Bonita Beach Road area improved 10% year-over-year (369 vs 336).

NEW LISTINGS / INVENTORY

  • During the 12 months ending November 30, 2018, a total of 667 new listings were added to the market, this is approximately 10% more listings than the same time period 12 months ending November 30, 2017.
  • Available inventory as of November 30, 2018 consisted of 397 units, an increase of 4% vs the same time period in 2017. Current inventory represents 12 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $3,402,141, which increased 7% vs the same time period in 2017.
  • The median sales price for the area increased 16% to $2,672,500 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 November 30, 2018 for the luxury market from Port Royal to Bonita Beach Road area improved 36% year-over-year (461 vs 340).

NEW LISTINGS / INVENTORY

  • During the 12 months ending November 30, 2018, a total of 678 new listings were added to the market, an increase of approximately 18% vs the same time period, 12 months ending November 30, 2017.
  • Available inventory as of November 30, 2018 consisted of 350 units, a decrease of 5% vs the same time period in 2017. Current inventory represents 9 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $1,936,501, an increase of 5% vs the same time period in 2017.
  • The median sales price for the area increased 11% to $1,550,000 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.”