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Naples Florida Monthly Real Estate Market Update – January 2020

Naples Florida Real Estate Market News –
January 2020

 

 

 

 

NAPLES, BONITA SPRINGS AND ESTERO – SINGLE FAMILY PROPERTIES

CLOSED SALES

  • The number of closed sales in the 12 months ending January 31, 2020 for the Naples, Bonita Springs and Estero Area increased 8% year-over-year (7,663 vs 7,097). 
  • There were 41 closed sales, priced above two million, in January 2020 compared to 30 in January 2019 a 37% increase. During the 12 months ending January 31, 2020, sales in this category decreased 2% over the same time period in 2019 (406 vs 414). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending January 31, 2020, a total of 11,258 new listings were added to the market, this is a 4% decrease vs the same time period 12 months ending January 31, 2019. 
  • Available inventory as of January 31, 2020 consisted of 5,292 units, a decrease of 11% vs the same time period in 2019. 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 $660,307, a decrease of 3% vs the same time period in 2019. 
  • The median sales price for the area increased 10% to $420,000 vs 2019. 

 

NAPLES, BONITA SPRINGS AND ESTERO – CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending January 31, 2020 for the Naples, Bonita Springs and Estero Area increased 6% year-over-year (6,095 vs 5,772). 
  • There were 16 closed sales priced above two million compared to 12 in January 31, 2019, a 33% increase. During the 12 months ending January 31, 2020, sales in this category increased 3% vs the same time period in 2019 (152 vs 147 units). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending January 31, 2020, a total of 8,539 new listings were added to the market, a 9% decrease vs the same time period 12 months ending January 31, 2019. 
  • Available inventory as of January 31, 2020 consisted of 4,120 units, a decrease of 17% vs the same time period in 2019. 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 $411,607, remaining relatively the same with an increase of 1% vs the same time period in 2019. 
  • The median sales price for the area increased 9% to $260,000 vs 2019. 

“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.”