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

Naples Florida Real Estate Market News –
February 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 February 28, 2019 for the luxury market from Port Royal to Bonita Beach Road area improved 2% year-over-year (358 vs 352). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending February 28, 2019, a total of 688 new listings were added to the market, this is approximately 11% more listings than the same time period 12 months ending February 28, 2018. 
  • Available inventory as of February 28, 2019 consisted of 518 units, an increase of 8% vs the same time period in 2018. Current inventory represents 17 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $3,828,590, which increased 27% vs the same time period in 2018. 
  • The median sales price for the area increased 52% to $3,800,000 vs $2,495,000 in 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 February 28, 2019 for the luxury market from Port Royal to Bonita Beach Road area decreased 27% year-over-year (341 vs 465). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending February 28, 2019, a total of 642 new listings were added to the market, which is no increase vs the same time period, 12 months ending February 28, 2018. 
  • Available inventory as of February 28, 2019 consisted of 474 units, an increase of 15% vs the same time period in 2018. Current inventory represents 17 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $1,971,538, a decrease of 3% vs the same time period in 2018. 
  • The median sales price for the area decreased 12% to $1,600,000 vs $1,820,000 in 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.”