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Naples Florida Monthly Real Estate Market Update – July 2020

Naples Florida Real Estate Market News –
July 2020

 

 

 

 

NAPLES AND BONITA SPRINGS – SINGLE FAMILY PROPERTIES

CLOSED SALES

  • The number of closed sales in the 12 months ending July 31, 2020 for the Naples and Bonita Springs Area increased 7% year-over-year (6,981 vs 6,498). 
  • There were 50 closed sales, priced above two million, in July 2020 compared to 33 in July 2019, a 52% increase. During the 12 months ending July 31, 2020, sales in this category increased 12% over the same time period in 2019 (401 vs 359). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending July 31, 2020, a total of 9,920 new listings were added to the market, this is a 4% decrease vs the same time period 12 months ending July 31, 2019. 
  • Available inventory as of July 31, 2020 consisted of 3,936 units, a decrease of 12% vs the same time period in 2019. Current inventory represents 4.8 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $684,647, 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 July 2020 increased 11% to $420,500 vs July 2019. 

 

NAPLES AND BONITA SPRINGS – CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending July 31, 2020 for the Naples and Bonita Springs Area decreased 3% year-over-year (5,051 vs 5,227). 
  • There were 9 closed sales priced above two million compared to 8 in July 2019, a 13% increase. During the 12 months ending July 31, 2020, sales in this category decreased 21% vs the same time period in 2019 (119 vs 151 units). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending July 31, 2020, a total of 7,795 new listings were added to the market, a 5% decrease vs the same time period 12 months ending July 31, 2019.
  • Available inventory as of July 31, 2020 consisted of 3,372 units, a decrease of 3% vs the same time period in 2019. Current inventory represents 6.9 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $432,934, 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 July 2020 increased 12% to $257,000 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.”