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

Naples Florida Real Estate Market News –
December 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 December 31, 2019 for the luxury market from Port Royal to Bonita Beach Road Area increased 5% year-over-year (371 vs 352). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending December 31, 2019, a total of 624 new listings were added to the market, this is less than 2% fewer listings than the same time period 12 months ending December 31, 2018. 
  • Available inventory as of December 31, 2019 consisted of 373 units, a decrease of 10% vs the same time period in 2018. Current inventory represents 12 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $3,600,000, which increased 5% vs the same time period in 2018. 
  • The median sales price for the area was relatively unchanged at $2,666,792 vs $2,652,813 in 2018. 

 

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 December 31, 2019 for the luxury market from Port Royal to Bonita Beach Road Area decreased 14% year-over-year (379 vs 442). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending December 31, 2019, a total of 622 new listings were added to the market, a decrease of 2% vs the same time period 12 months ending December 31, 2018. 
  • Available inventory as of December 31, 2019 consisted of 376 units, a 3% increase vs the same time period in 2018. Current inventory represents 13 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $1,916,369, a decrease of less than 2% vs the same time period in 2018. 
  • The median sales price for the area decreased 5% to $1,544,792 from $1,626,625. 

 

“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.”