No Comments

Naples Florida Monthly Real Estate Market Update – January 2021 – LUXURY MARKET

Naples Florida Real Estate Market News –
January 2021

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 January 31, 2021 for the luxury market from Port Royal to Bonita Beach Road Area increased 47% year-over-year (552 vs 376). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending January 31, 2021, a total of 678 new listings were added to the market, an increase of 10% compared to the same time period 12 months ending January 31, 2020. 
  • Available inventory as of January 31, 2021 consisted of 300 units, a decrease of 29% vs the same time period in 2020 (300 vs 425). Current inventory represents 6.7 months of supply based on current absorption rates. 

AVERAGE & MEDIAN SALES PRICE

  • The year-over-year average sales price for the area was $3,717,347, remaining relatively the same with a decrease of less than 1% vs the same time period in 2020.
  • The median sales price for the area in January 2021 decreased 24% to $2,500,000 vs January 2020. 

 

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 January 31, 2021 for the luxury market from Port Royal to Bonita Beach Road Area increased 52% year-over-year (574 vs 377). 

NEW LISTINGS / INVENTORY

  • During the 12 months ending January 31, 2021, a total of 754 new listings were added to the market, an increase of 22% vs the same time period 12 months ending January 31, 2020. 
  • Available inventory as of January 31, 2021 consisted of 310 units, a 23% decrease vs the same time period in 2020. 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 $2,097,549, remaining relatively the same with an increase of less than 1% vs the same time period in 2020. 
  • The median sales price for the area in January 2021 decreased 9% to $1,646,250 vs January 2020. 

 

“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS. Copyright 2021 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.”