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Naples Florida Monthly Real Estate Market Update – September 2020

Naples Florida Real Estate Market News –
September 2020

 

 

 

 

NAPLES AND BONITA SPRINGS – SINGLE FAMILY PROPERTIES

CLOSED SALES

  • The number of closed sales in the 12 months ending September 30, 2020 for the Naples and Bonita Springs Area increased 14% year-over-year (7,558 vs 6,609).
  • There were 43 closed sales, priced above two million, in September 2020 compared to 15 in September 2019, a 187% increase. During the 12 months ending September 30, 2020, sales in this category increased 33% over the same time period in 2019 (465 vs 349).

NEW LISTINGS / INVENTORY

  • During the 12 months ending September 30, 2020, a total of 10,278 new listings were added to the market, this is an increase of less than 1% vs the same time period 12 months ending September 30, 2019.
  • Available inventory as of September 30, 2020 consisted of 3,713 units, a decrease of 12% vs the same time period in 2019. Current inventory represents 5 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $712,888, a 4% increase vs the same time period in 2019.
  • The median sales price for the area in September 2020 increased 17% to $440,000 vs September 2019.

 

NAPLES AND BONITA SPRINGS – CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending September 30, 2020 for the Naples and Bonita Springs Area increased 3% year-over-year (5,375 vs 5,243).
  • There were 27 closed sales priced above two million compared to 6 in September 2019, a 350% increase. During the 12 months ending September 30, 2020, sales in this category increased 29% vs the same time period in 2019 (195 vs 151 units).

NEW LISTINGS / INVENTORY

  • During the 12 months ending September 30, 2020, a total of 8,128 new listings were added to the market, remaining relatively the same with a decrease of 1% vs the same time period 12 months ending September 30, 2019.
  • Available inventory as of September 30, 2020 consisted of 3,307 units, remaining relatively the same with an increase of 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 $470,461, an increase of 7% vs the same time period in 2019.
  • The median sales price for the area in September 2020 increased 17% to $275,000 vs September 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.”