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

Naples Florida Real Estate Market News –
December 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 December 31, 2020 for the luxury market from Port Royal to Bonita Beach Road Area increased 43% year-over-year (535 vs 373).

NEW LISTINGS / INVENTORY

  • During the 12 months ending December 31, 2020, a total of 699 new listings were added to the market, an increase of 11% compared to the same time period 12 months ending December 31, 2019.
  • Available inventory as of December 31, 2020 consisted of 284 units, a decrease of 25% vs the same time period in 2019 (284 vs 377). Current inventory represents 3.6 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $3,690,987, a decrease of 3% vs the same time period in 2019.
  • The median sales price for the area in December 2020 increased 71% to $3,850,000 vs December 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 December 31, 2020 for the luxury market from Port Royal to Bonita Beach Road Area increased 52% year-over-year (557 vs 367).

NEW LISTINGS / INVENTORY

  • During the 12 months ending December 31, 2020, a total of 782 new listings were added to the market, an increase of 26% vs the same time period 12 months ending December 31, 2019.
  • Available inventory as of December 31, 2020 consisted of 308 units, an 18% decrease vs the same time period in 2019. Current inventory represents 4.2 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $2,121,623, increasing 2% vs the same time period in 2019.
  • The median sales price for the area in December 2020 increased 4% to $1,620,000 vs December 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.”