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Naples Florida Monthly Real Estate Market Update – April 2020

Naples Florida Real Estate Market News –
April 2020

 

 

 

 

NAPLES, BONITA SPRINGS AND ESTERO – SINGLE FAMILY PROPERTIES

CLOSED SALES

  • The number of closed sales in the 12 months ending April 30, 2020 for the Naples, Bonita Springs and Estero Area increased 12% year-over-year (7,875 vs 7,057). 
  • There were 28 closed sales, priced above two million, in April 2020 compared to 59 in April 2019 a 53% decrease. During the 12 months ending April 30, 2020, sales in this category increased 4% over the same time period in 2019 (413 vs 398). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending April 30, 2020, a total of 10,746 new listings were added to the market, this is an 8% decrease vs the same time period 12 months ending April 30, 2019. 
  • Available inventory as of April 30, 2020 consisted of 4,703 units, a decrease of 23% vs the same time period in 2019. Current inventory represents 7 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $650,162, a decrease of 3% vs the same time period in 2019. 
  • The median sales price for the area increased 3% to $413,279 vs 2019. 

 

NAPLES, BONITA SPRINGS AND ESTERO – CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending April 30, 2020 for the Naples, Bonita Springs and Estero Area increased 4% year-over-year (6,022 vs 5,807). 
  • There were 7 closed sales priced above two million compared to 26 in April 30, 2019, a 73% decrease. During the 12 months ending April 30, 2020, sales in this category increased 10% vs the same time period in 2019 (159 vs 144 units). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending April 30, 2020, a total of 8,042 new listings were added to the market, a 12% decrease vs the same time period 12 months ending April 30, 2019.
  • Available inventory as of April 30, 2020 consisted of 3,636 units, a decrease of 27% vs the same time period in 2019. Current inventory represents 7 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $416,728, an increase of 3% vs the same time period in 2019. 
  • The median sales price for the area increased 2% 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.”