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Naples Florida Monthly Real Estate Market Update – November 2018

Naples Florida Real Estate Market News –
November 2018

 

 

NAPLES, BONITA SPRINGS AND ESTERO – SINGLE FAMILY PROPERTIES

CLOSED SALES

  • The number of closed sales in the 12 months ending November 30, 2018 for the Naples, Bonita Springs and Estero area increased 2% year-over-year (7,008 vs 6,872).
  • There were 20 closed sales, priced above two million, in November 2018 compared to 24 in November 2017. During the 12 months ending November 30, 2018, sales in this category increased 12% over the same time period in 2017 (406 vs 364).

NEW LISTINGS / INVENTORY

  • During the 12 months ending November 30, 2018, a total of 11,644 new listings were added to the market, this is 9% more listings than the same time period, 12 months ending November 30, 2017.
  • Available inventory as of November 30, 2018 consisted of 5,171 units, an increase of 10% 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 $669,611 which improved over the same time period in 2017, representing an increase of 6%.
  • The median sales price for the area decreased 2% to $381,250 vs $390,000 in 2017.

 

NAPLES, BONITA SPRINGS AND ESTERO – CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending November 30, 2018 for the Naples, Bonita Springs and Estero area increased 9% year-over-year (5,886 vs 5,416).
  • There were 9 closed sales, priced above two million, in November 2018 compared to 5 in November 2017, an 80% increase. During the 12 months ending November 30, 2018, sales in this category increased 27% over the same time period in 2017 (148 vs 117 units).

NEW LISTINGS / INVENTORY

  • During the 12 months ending November 30, 2018, a total of 9,269 new listings were added to the market, approximately 6% more listings than the same time period 12 months ending November 30, 2017.
  • Available inventory as of November 30, 2018 consisted of 4,175 units, an increase of less than 1% vs the same time period in 2017. Current inventory represents 9 months of supply based on current absorption rate.

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $423,187, which improved over the same time period in 2017, representing an increase of 8%.
  • The median sales price stayed the same at $233,000 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.”