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

Naples Florida Real Estate Market News –
November 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 November 30, 2019 for the luxury market from Port Royal to Bonita Beach Road Area decreased 7% year-over-year (361 vs 389). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending November 30, 2019, a total of 631 new listings were added to the market, this is approximately 8% fewer listings than the same time period 12 months ending November 30, 2018. 
  • Available inventory as of November 30, 2019 consisted of 378 units, a decrease of 7% vs the same time period in 2018. Current inventory represents 18 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $3,729,491, which increased 10% vs the same time period in 2018. 
  • The median sales price for the area increased 6% to $2,695,792 from $2,546,354. 

 

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 November 30, 2019 for the luxury market from Port Royal to Bonita Beach Road Area decreased 19% year-over-year (374 vs 461). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending November 30, 2019, a total of 607 new listings were added to the market, a decrease of 4% vs the same time period 12 months ending November 30, 2018. 
  • Available inventory as of November 30, 2019 consisted of 485 units, unchanged vs the same time period in 2018. Current inventory represents 20 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $1,806,449, a decrease of 3% vs the same time period in 2018. 
  • The median sales price for the area decreased 7% to $1,439,917 from $1,550,639. 

 

“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.”