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

Naples Florida Real Estate Market News –
May 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 May 31, 2019 for the luxury market from Port Royal to Bonita Beach Road area increased 7% year-over-year (366 vs 342). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending May 31, 2019, a total of 657 new listings were added to the market, this is approximately 5% more listings than the same time period 12 months ending May 31, 2018. 
  • Available inventory as of May 31, 2019 consisted of 459 units, an increase of 6% vs the same time period in 2018. Current inventory represents 16 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $3,696,351, which increased 17% vs the same time period in 2018. 
  • The median sales price for the area decreased 6% to $2,577,500 vs $2,742,500 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 May 31, 2019 for the luxury market from Port Royal to Bonita Beach Road area decreased 23% year-over-year (347 vs 450). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending May 31, 2019, a total of 619 new listings were added to the market, a decrease of 5% vs the same time period, 12 months ending May 31, 2018. 
  • Available inventory as of May 31, 2019 consisted of 396 units, an increase of 17% 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 $2,026,661, an increase of 8% vs the same time period in 2018. 
  • The median sales price for the area decreased 2% to $1,735,000 vs $1,775,000 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.”