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Naples Florida Monthly Real Estate Market Update – January 2019 – LUXURY MARKET

Naples Florida Real Estate Market News –
January 2019

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 January 31, 2019 for the luxury market from Port Royal to Bonita Beach Road area improved 11% year-over-year (373 vs 337). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending January 31, 2019, a total of 658 new listings were added to the market, this is approximately 4% more listings than the same time period 12 months ending January 31, 2018. 
  • Available inventory as of January 31, 2019 consisted of 468 units, an increase of 1% vs the same time period in 2018. Current inventory represents 15 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $3,707,500, which increased 22% vs the same time period in 2018. 
  • The median sales price for the area increased 51% to $3,000,000 vs 2018. 

 

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 January 31, 2019 for the luxury market from Port Royal to Bonita Beach Road area decreased 15% year-over-year (366 vs 431). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending January 31, 2019, a total of 648 new listings were added to the market, an increase of approximately 3% vs the same time period, 12 months ending January 31, 2018. 
  • Available inventory as of January 31, 2019 consisted of 430 units, an increase of 13% vs the same time period in 2018. 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 $1,966,589, an increase of 5% vs the same time period in 2018. 
  • The median sales price for the area increased 11% to $1,950,000 vs 2018. 

 

“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS. Copyright 2019 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.”