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

Naples Florida Real Estate Market News –
July 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 July 31, 2020 for the luxury market from Port Royal to Bonita Beach Road Area remained the same year-over-year (370 vs 370). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending July 31, 2020, a total of 653 new listings were added to the market, remaining relatively the same with an increase of less than 1% compared to the same time period 12 months ending July 31, 2019. 
  • Available inventory as of July 31, 2020 consisted of 363 units, a decrease of less than 1% vs the same time period in 2019. Current inventory represents 6.4 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $3,610,607, which decreased 4% vs the same time period in 2019. 
  • The median sales price for the area in July 2020 increased 8% to $2,800,000 vs July 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 July 31, 2020 for the luxury market from Port Royal to Bonita Beach Road Area decreased 7% year-over-year (335 vs 362). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending July 31, 2020, a total of 665 new listings were added to the market, an increase of 5% vs the same time period 12 months ending July 31, 2019. 
  • Available inventory as of July 31, 2020 consisted of 369 units, an 18% increase vs the same time period in 2019. Current inventory represents 12 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $2,047,473, decreasing 3% vs the same time period in 2019. 
  • The median sales price for the area in July 2020 increased 11% to $1,657,500 vs July 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.”