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

Naples Florida Real Estate Market News –
December 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 December 31, 2018 for the luxury market from Port Royal to Bonita Beach Road area improved 7% year-over-year (361 vs 337). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending December 31, 2018, a total of 651 new listings were added to the market, this is approximately 6% more listings than the same time period 12 months ending December 31, 2017. 
  • Available inventory as of December 31, 2018 consisted of 410 units, an increase of 3% vs the same time period in 2017. Current inventory represents 14 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $3,522,764, which increased 13% vs the same time period in 2017. 
  • The median sales price for the area increased 52% to $2,950,000 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 December 31, 2018 for the luxury market from Port Royal to Bonita Beach Road area improved 27% year-over-year (444 vs 350). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending December 31, 2018, a total of 663 new listings were added to the market, an increase of approximately 11% vs the same time period, 12 months ending December 31, 2017. 
  • Available inventory as of December 31, 2018 consisted of 370 units, a decrease of 5% vs the same time period in 2017. Current inventory represents 10 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $1,953,415, an increase of 4% vs the same time period in 2017. 
  • The median sales price for the area decreased 3% to $1,580,000 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.”