No Comments

Naples Florida Monthly Real Estate Market Update – June 2020

Naples Florida Real Estate Market News –
June 2020

 

 

 

 

NAPLES AND BONITA SPRINGS – SINGLE FAMILY PROPERTIES

CLOSED SALES

  • The number of closed sales in the 12 months ending June 30, 2020 for the Naples and Bonita Springs Area increased 5% year-over-year (6,726 vs 6,400). 
  • There were 57 closed sales, priced above two million, in June 2020 compared to 35 in June 2019, a 63% increase. During the 12 months ending June 30, 2020, sales in this category increase 9% over the same time period in 2019 (383 vs 351). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending June 30, 2020, a total of 9,802 new listings were added to the market, this is a 6% decrease vs the same time period 12 months ending June 30, 2019. 
  • Available inventory as of June 30, 2020 consisted of 4,265 units, a decrease of 9% 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 $682,691, remaining relatively the same with a decrease of less than 1% vs the same time period in 2019. 
  • The median sales price for the area in June 2020 increased 6% to $397,000 vs June 2019. 

 

NAPLES AND BONITA SPRINGS – CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending June 30, 2020 for the Naples and Bonita Springs Area decreased 4% year-over-year (4,964 vs 5,194). 
  • There were 8 closed sales priced above two million compared to 20 in June 2019, a 60% decrease. During the 12 months ending June 30, 2020, sales in this category decreased 20% vs the same time period in 2019 (118 vs 148 units). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending June 30, 2020, a total of 7,614 new listings were added to the market, a 7% decrease vs the same time period 12 months ending June 30, 2019. 
  • Available inventory as of June 30, 2020 consisted of 3,470 units, a decrease of 6% 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 $432,783, remaining relatively the same with a decrease of less than 1% vs the same time period in 2019. 
  • The median sales price for the area in June 2020 increased 2% to $264,000 vs June 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.”