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Naples Florida Monthly Real Estate Market Update – November 2020

Naples Florida Real Estate Market News –
November 2020

 

 

 

 

NAPLES AND BONITA SPRINGS – SINGLE FAMILY PROPERTIES

CLOSED SALES

  • The number of closed sales in the 12 months ending November 30, 2020 for the Naples and Bonita Springs Area increased 24% year-over-year (8,250 vs 6,643).
  • There were 61 closed sales, priced above two million, in November 2020 compared to 24 in November 2019, a 154% increase. During the 12 months ending November 30, 2020, sales in this category increased 57% over the same time period in 2019 (559 vs 356).

NEW LISTINGS / INVENTORY

  • During the 12 months ending November 30, 2020, a total of 10,222 new listings were added to the market, this is an increase of less than 1% vs the same time period 12 months ending November 30, 2019.
  • Available inventory as of November 30, 2020 consisted of 3,503 units, a decrease of 23% vs the same time period in 2019. Current inventory represents 4.6 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $747,621 a 10% increase vs the same time period in 2019.
  • The median sales price for the area in November 2020 increased 19% to $470,000 vs November 2019.

 

NAPLES AND BONITA SPRINGS – CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending November 30, 2020 for the Naples and Bonita Springs Area increased 11% year-over-year (5,876 vs 5,316).
  • There were 11 closed sales priced above two million compared to 5 in November 2019, a 120% increase. During the 12 months ending November 30, 2020, sales in this category increased 49% vs the same time period in 2019 (216 vs 145 units).

NEW LISTINGS / INVENTORY

  • During the 12 months ending November 30, 2020, a total of 8,212 new listings were added to the market, a 2% increase vs the same time period 12 months ending November 30, 2019.
  • Available inventory as of November 30, 2020 consisted of 3,248 units, a decrease of 10% vs the same time period in 2019. Current inventory represents 5.5 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $483,107 an increase of 12% vs the same time period in 2019.
  • The median sales price for the area in November 2020 increased 8% to $277,500 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.”