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Naples Florida Monthly Real Estate Market Update – March 2019

Naples Florida Real Estate Market News –
March 2019

 

 

 

NAPLES, BONITA SPRINGS AND ESTERO – SINGLE FAMILY PROPERTIES

CLOSED SALES

  • The number of closed sales in the 12 months ending March 31, 2019 for the Naples, Bonita Springs and Estero area increased 3% year-over-year (6,985 vs 6,760). 
  • There were 38 closed sales, priced above two million, in March 2019 compared to 52 in March 2018 a 37% decrease. During the 12 months ending March 31, 2019, sales in this category increased 5% over the same time period in 2018 (393 vs 373). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending March 31, 2019, a total of 11,534 new listings were added to the market, this is 7% more listings than the same time period, 12 months ending March 31, 2018. 
  • Available inventory as of March 31, 2019 consisted of 6,142 units, an increase of 6% 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 $673,572 which improved over the same time period in 2018, representing an increase of 5%. 
  • The median sales price for the area decreased 3% to $382,020 vs $395,000 in 2018. 

 

NAPLES, BONITA SPRINGS AND ESTERO – CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending March 31, 2019 for the Naples, Bonita Springs and Estero area increased 3% year-over-year (5,679 vs 5,526). 
  • There were 14 closed sales, priced above two million, in March 2019 compared to 15 in March 2018 a 7% decrease. During the 12 months ending March 31, 2019, sales in this category decreased 16% over the same time period in 2018 (153 vs 128 units). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending March 31, 2019, a total of 8,993 new listings were added to the market, approximately 1% more listings than the same time period 12 months ending March 31, 2018. 
  • Available inventory as of March 31, 2019 consisted of 5,059 units, an decrease of 1% vs the same time period in 2018. Current inventory represents 11 months of supply based on current absorption rate. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $399,988, a decrease of 5% vs the same time period in 2018. 
  • The median sales price for the area decreased 1% to $263,000 vs $264,900 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.”