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Naples Florida Monthly Real Estate Market Update – August 2019

Naples Florida Real Estate Market News –
August 2019

 

 

 

NAPLES, BONITA SPRINGS AND ESTERO – SINGLE FAMILY PROPERTIES

CLOSED SALES

  • The number of closed sales in the 12 months ending August 31, 2019 for the Naples, Bonita Springs and Estero area increased 7% year-over-year (7,280 vs 6,804). 
  • There were 17 closed sales, priced above two million, in August 2019 compared to 14 in August 2018 a 21% increase. During the 12 months ending August 31, 2019, sales in this category decreased 1% over the same time period in 2018 (386 vs 391). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending August 31, 2019, a total of 11,373 new listings were added to the market, this is 4% more listings than the same time period, 12 months ending August 31, 2018. 
  • Available inventory as of August 31, 2019 consisted of 4,376 units, a decrease of 8% vs the same time period in 2018. Current inventory represents 7 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $663,502 which remained relatively the same with an increase of less than 1% vs. the same time period in 2018. 
  • The median sales price for the area decreased 2% to $386,638 vs $392,979 in 2018. 

 

NAPLES, BONITA SPRINGS AND ESTERO – CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending August 31, 2019 for the Naples, Bonita Springs and Estero area increased 2% year-over-year (5,785 vs 5,693). 
  • There were 6 closed sales, priced above two million, in August 2019. The same number as August 2018. During the 12 months ending August 31, 2019, sales in this category increased 11% over the same time period in 2018 (157 vs 142 units). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending August 31, 2019, a total of 8,884 new listings were added to the market, which remained relatively the same with a decrease of less than 1% vs. the same time period 12 months ending August 31, 2018. 
  • Available inventory as of August 31, 2019 consisted of 3,335 units, a decrease of 10% vs the same time period in 2018. Current inventory represents 7 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $412,773 which remained relatively the same with a decrease of less than 1% vs. the same time period in 2018. 
  • The median sales price for the area was $244,115 which remained relatively the same with a decrease of less than 1% vs. 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.”