No Comments

Naples Florida Monthly Real Estate Market Update – May 2020

Naples Florida Real Estate Market News –
May 2020

 

 

 

 

NAPLES AND BONITA SPRINGS – SINGLE FAMILY PROPERTIES

CLOSED SALES

  • The number of closed sales in the 12 months ending May 31, 2020 for the Naples and Bonita Springs Area increased 5% year-over-year (7,490 vs 7,171). 
  • There were 16 closed sales, priced above two million, in May 2020 compared to 42 in May 2019, a 62% decrease. During the 12 months ending May 31, 2020, sales in this category remained relatively the same with an increase of 1% over the same time period in 2019 (387 vs 383). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending May 31, 2020, a total of 10,722 new listings were added to the market, this is an 8% decrease vs the same time period 12 months ending May 31, 2019. 
  • Available inventory as of May 31, 2020 consisted of 4,638 units, a decrease of 19% 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 $644,507, a decrease of 3% vs the same time period in 2019. 
  • The median sales price for the area decreased 4% to $379,950 vs 2019. 

 

NAPLES AND BONITA SPRINGS – CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending May 31, 2020 for the Naples and Bonita Springs Area decreased 5% year-over-year (5,609 vs 5,886). 
  • There were 7 closed sales priced above two million compared to 26 in May 31, 2019, a 73% decrease. During the 12 months ending May 31, 2020, sales in this category decreased 3% vs the same time period in 2019 (141 vs 146 units). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending May 31, 2020, a total of 8,107 new listings were added to the market, an 11% decrease vs the same time period 12 months ending May 31, 2019. 
  • Available inventory as of May 31, 2020 consisted of 3,618 units, a decrease of 18% vs the same time period in 2019. Current inventory represents 11 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $415,286, an increase of 2% vs the same time period in 2019. 
  • The median sales price for the area remained relatively the same with an increase of less than 1% to $252,500 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.”