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Naples Florida Monthly Real Estate Market Update – February 2019

Naples Florida Real Estate Market News –
February 2019

 

 

 

NAPLES, BONITA SPRINGS AND ESTERO – SINGLE FAMILY PROPERTIES

CLOSED SALES

  • The number of closed sales in the 12 months ending February 28, 2019 for the Naples, Bonita Springs and Estero area increased 4% year-over-year (7,017 vs 6,751). 
  • There were 31 closed sales, priced above two million, in February 2019 compared to 38 in February 2018 a 23% decrease. During the 12 months ending February 28, 2019, sales in this category increased 12% over the same time period in 2018 (407 vs 363). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending February 28, 2019, a total of 11,591 new listings were added to the market, this is 7% more listings than the same time period, 12 months ending February 28, 2018.
  • Available inventory as of February 28, 2019 consisted of 6,216 units, an increase of 8% vs the same time period in 2018. Current inventory represents 11 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $681,337 which improved over the same time period in 2018, representing an increase of 6%. 
  • The median sales price for the area decreased 3% to $395,000 vs $408,500 in 2018. 

 

NAPLES, BONITA SPRINGS AND ESTERO – CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending February 28, 2019 for the Naples, Bonita Springs and Estero area increased 1% year-over-year (5,642 vs 5,564).
  • There were 9 closed sales, priced above two million, in February 2019 compared to 22 in February 2018 a 144% decrease. During the 12 months ending February 28, 2019, sales in this category decreased 15% over the same time period in 2018 (150 vs 128 units). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending February 28, 2019, a total of 9,116 new listings were added to the market, approximately 4% more listings than the same time period 12 months ending February 28, 2018. 
  • Available inventory as of February 28, 2019 consisted of 5,125 units, an increase of 3% vs the same time period in 2018. 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 $401,633, a decrease of 5% vs the same time period in 2018. 
  • The median sales price for the area increased 1% to $254,000 vs $250,785 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.”