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Naples Florida Monthly Real Estate Market Update – September 2019

Naples Florida Real Estate Market News –
September 2019

 

 

 

NAPLES, BONITA SPRINGS AND ESTERO – SINGLE FAMILY PROPERTIES

CLOSED SALES

  • The number of closed sales in the 12 months ending September 30, 2019 for the Naples, Bonita Springs and Estero Area increased 6% year-over-year (7,359 vs 6,957). 
  • There were 15 closed sales, priced above two million, in September 2019 compared to 29 in September 2018 a 91% increase. During the 12 months ending September 30, 2019, sales in this category decreased 9% over the same time period in 2018 (372 vs 407). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending September 30, 2019, a total of 11,383 new listings were added to the market, this is relatively flat vs. the same time period 12 months ending September 30, 2018. 
  • Available inventory as of September 30, 2019 consisted of 4,491 units, a decrease of 6% 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 $669,224 which remained relatively the same with a decrease of less than 3% vs. the same time period in 2018. 
  • The median sales price for the area decreased 2% to $384,833 from $392,588 in 2018. 

 

NAPLES, BONITA SPRINGS AND ESTERO – CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending September 30, 2019 for the Naples, Bonita Springs and Estero Area was unchanged year-over-year (5,792 vs 5,799). 
  • There were 6 closed sales priced above two million in September 2019, the same number as September 2018. During the 12 months ending September 30, 2019, sales in this category increased 4% over the same time period in 2018 (125 vs 120 units). 

NEW LISTINGS / INVENTORY

 

  • During the 12 months ending September 30, 2019, a total of 6,469 new listings were added to the market, a 6% decrease vs. the same time period 12 months ending September 30, 2018. 
  • Available inventory as of September 30, 2019 consisted of 3,416 units, a decrease of 6% vs the same time period in 2018. Current inventory represents 8 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $415,230, a decrease of 3% vs the same time period in 2018. 
  • The median sales price for the area remained relatively the same with a decrease of 2% to $245,860 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.”