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Naples Florida Monthly Real Estate Market Update – May 2019

Naples Florida Real Estate Market News –
May 2019

 

 

 

NAPLES, BONITA SPRINGS AND ESTERO – SINGLE FAMILY PROPERTIES

CLOSED SALES

  • The number of closed sales in the 12 months ending May 31, 2019 for the Naples, Bonita Springs and Estero area increased 4% year-over-year (7,127 vs 6,850). 
  • There were 41 closed sales, priced above two million, in May 2019 compared to 57 in May 2018 a 28% decrease. During the 12 months ending May 31, 2019, sales in this category decreased 1% over the same time period in 2018 (382 vs 386). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending May 31, 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 May 31, 2018. 
  • Available inventory as of May 31, 2019 consisted of 5,550 units, an increase of 4% vs the same time period in 2018. Current inventory represents 9 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $667,871 which improved over the same time period in 2018, representing an increase of 2%. 
  • The median sales price for the area increased 4% to $400,000 vs $385,000 in 2018. 

 

NAPLES, BONITA SPRINGS AND ESTERO – CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending May 31, 2019 for the Naples, Bonita Springs and Estero area increased 5% year-over-year (5,862 vs 5,565). 
  • There were 23 closed sales, priced above two million, in May 2019 compared to 24 in May 2018 a 4% decrease. During the 12 months ending May 31, 2019, sales in this category increased 1% over the same time period in 2018 (143 vs 142 units). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending May 31, 2019, a total of 8,987 new listings were added to the market, approximately 1% more listings than the same time period 12 months ending May 31, 2018. 
  • Available inventory as of May 31, 2019 consisted of 4,295 units, a decrease of 5% vs the same time period in 2018. Current inventory represents 9 months of supply based on current absorption rate. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $403,869, a decrease of 3% vs the same time period in 2018. 
  • The median sales price for the area decreased 2% to $255,000 vs $259,000 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.”