No Comments

Naples Florida Monthly Real Estate Market Update – August 2020

Naples Florida Real Estate Market News –
August 2020

 

 

 

 

NAPLES AND BONITA SPRINGS – SINGLE FAMILY PROPERTIES

CLOSED SALES

  • The number of closed sales in the 12 months ending August 31, 2020 for the Naples and Bonita Springs Area increased 10% year-over-year (7,232 vs 6,548).  
  • There were 49 closed sales, priced above two million, in August 2020 compared to 14 in August 2019, a 250% increase. During the 12 months ending August 31, 2020, sales in this category increased 21% over the same time period in 2019 (436 vs 359). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending August 31, 2020, a total of 10,071 new listings were added to the market, this is a 2% decrease vs the same time period 12 months ending August 31, 2019.  
  • Available inventory as of August 31, 2020 consisted of 3,724 units, a decrease of 10% vs the same time period in 2019. Current inventory represents 4.9 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $695,740, remaining relatively the same with an increase of less than 1% vs the same time period in 2019.  
  • The median sales price for the area in August 2020 increased 14% to $435,000 vs August 2019. 

 

NAPLES AND BONITA SPRINGS – CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending August 31, 2020 for the Naples and Bonita Springs Area remained relatively the same with a decrease of less than 1% year-over-year (5,193 vs 5,220).  
  • There were 59 closed sales priced above two million compared to 6 in August 2019, an 883% increase. During the 12 months ending August 31, 2020, sales in this category increased 15% vs the same time period in 2019 (173 vs 151 units). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending August 31, 2020, a total of 8,002 new listings were added to the market, a 2% decrease vs the same time period 12 months ending August 31, 2019.  
  • Available inventory as of August 31, 2020 consisted of 3,323 units, remaining relatively the same with an increase of 1% vs the same time period in 2019. Current inventory represents 6.5 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $460,783, an increase of 5% vs the same time period in 2019.  
  • The median sales price for the area in August 2020 increased 22% to $284,000 vs August 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.”