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Naples Florida Monthly Real Estate Market Update – November 2019

Naples Florida Real Estate Market News –
November 2019

 

 

 

 

NAPLES, BONITA SPRINGS AND ESTERO – SINGLE FAMILY PROPERTIES

CLOSED SALES

  • The number of closed sales in the 12 months ending November 30, 2019 for the Naples, Bonita Springs and Estero Area was relatively unchanged year-over-year (7,395 vs 7,402). 
  • There were 25 closed sales, priced above two million, in November 2019 compared to 22 in November 2018 a 13% increase. During the 12 months ending November 30, 2019, sales in this category decreased 7% over the same time period in 2018 (379 vs 409). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending November 30, 2019, a total of 11,335 new listings were added to the market, this is relatively unchanged vs the same time period 12 months ending November 30, 2018. 
  • Available inventory as of November 30, 2019 consisted of 4,899 units, a decrease of 8% 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 $653,840 which remained relatively the same with a decrease of 2% vs the same time period in 2018. 
  • The median sales price for the area decreased less than 2% to $385,357 from $390,921 in 2018. 

 

NAPLES, BONITA SPRINGS AND ESTERO – CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending November 30, 2019 for the Naples, Bonita Springs and Estero Area was unchanged year-over-year (5,872 vs 5,860). 
  • There were 7 closed sales priced above two million in November 30, 2019, 30% fewer than November 2018. During the 12 months ending November 30, 2019, sales in this category were unchanged vs the same time period in 2018 (150 vs 149 units). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending November 30, 2019, a total of 8,725 new listings were added to the market, a 1% decrease vs the same time period 12 months ending November 30, 2018. 
  • Available inventory as of November 30, 2019 consisted of 4,328 units, a decrease of 13% vs the same time period in 2018. Current inventory represents 10 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $407,000, a decrease of 4% vs the same time period in 2018. 
  • The median sales price for the area remained relatively the same with a decrease of 1% to $245,209 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.”