No Comments

Naples Florida Monthly Real Estate Market Update – February 2020

Naples Florida Real Estate Market News –
February 2020

 

 

 

 

NAPLES, BONITA SPRINGS AND ESTERO – SINGLE FAMILY PROPERTIES

CLOSED SALES

  • The number of closed sales in the 12 months ending February 29, 2020 for the Naples, Bonita Springs and Estero Area increased 11% year-over-year (7,833 vs 7,069). 
  • There were 37 closed sales, priced above two million, in February 2020 compared to 30 in February 2019 a 23% increase. During the 12 months ending February 29, 2020, sales in this category decreased 2% over the same time period in 2019 (406 vs 413). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending February 29, 2020, a total of 11,239 new listings were added to the market, this is a 4% decrease vs the same time period 12 months ending February 29, 2019. 
  • Available inventory as of February 29, 2020 consisted of 5,508 units, a decrease of 14% vs the same time period in 2019. 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 $655,227, a decrease of 3% vs the same time period in 2019. 
  • The median sales price for the area increased 3% to $400,000 vs 2019. 

 

NAPLES, BONITA SPRINGS AND ESTERO – CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending February 29, 2020 for the Naples, Bonita Springs and Estero Area increased 9% year-over-year (6,206 vs 5,697). 
  • There were 13 closed sales priced above two million compared to 9 in February 29, 2019, a 44% increase. During the 12 months ending February 29, 2020, sales in this category increased 22% vs the same time period in 2019 (158 vs 129 units). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending February 29, 2020, a total of 8,624 new listings were added to the market, a 7% decrease vs the same time period 12 months ending February 29, 2019.
  • Available inventory as of February 29, 2020 consisted of 4,345 units, a decrease of 18% vs the same time period in 2019. 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 $413,510, an increase of 3% vs the same time period in 2019. 
  • The median sales price for the area increased 3% to $286,500 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.”