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

Naples Florida Real Estate Market News –
November 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 November 30, 2020 for the luxury market from Port Royal to Bonita Beach Road Area increased 36% year-over-year (484 vs 357).

NEW LISTINGS / INVENTORY

  • During the 12 months ending November 30, 2020, a total of 690 new listings were added to the market, an increase of 9% compared to the same time period 12 months ending November 30, 2019.
  • Available inventory as of November 30, 2020 consisted of 333 units, a decrease of 13% vs the same time period in 2019 (333 vs 383). Current inventory represents 7.7 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $3,558,442, a decrease of 8% vs the same time period in 2019.
  • The median sales price for the area in November 2020 increased 25% to $3,125,000 vs November 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 November 30, 2020 for the luxury market from Port Royal to Bonita Beach Road Area increased 43% year-over-year (512 vs 359).

NEW LISTINGS / INVENTORY

  • During the 12 months ending November 30, 2020, a total of 767 new listings were added to the market, an increase of 22% vs the same time period 12 months ending November 30, 2019.
  • Available inventory as of November 30, 2020 consisted of 331 units, a 10% decrease vs the same time period in 2019. Current inventory represents 8.5 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $2,110,792, remaining relatively the same with an increase of 1% vs the same time period in 2019.
  • The median sales price for the area in November 2020 increased 17% to $1,550,000 vs November 2019.

 

“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS. Copyright 2020 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.”