No Comments

Naples Florida Monthly Real Estate Market Update – April 2020 – LUXURY MARKET

Naples Florida Real Estate Market News –
April 2020

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 April 30, 2020 for the luxury market from Port Royal to Bonita Beach Road Area increased 2% year-over-year (384 vs 375). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending April 30, 2020, a total of 612 new listings were added to the market, this is an 8% decrease compared to the same time period 12 months ending April 30, 2019. 
  • Available inventory as of April 30, 2020 consisted of 410 units, a decrease of 18% vs the same time period in 2019. Current inventory represents 17 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $3,483,453, which decreased 15% vs the same time period in 2019. 
  • The median sales price for the area decreased 17% to $2,165,000 vs 2019. 

 

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 April 30, 2020 for the luxury market from Port Royal to Bonita Beach Road Area increased 13% year-over-year (391 vs 347). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending April 30, 2020, a total of 605 new listings were added to the market, a decrease of 5% vs the same time period 12 months ending April 30, 2019.
  • Available inventory as of April 30, 2020 consisted of 351 units, a 22% decrease vs the same time period in 2019. Current inventory represents 15 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $2,030,868, remaining relatively the same with an increase of 1% vs the same time period in 2019. 
  • The median sales price for the area decreased 21% to $1,437,500 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.”