Page 3 - William Raveis August 2019 Market Report Dustin Beard

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 August 31, 2019 for the luxury market from
Port Royal to Bonita Beach Road area increased 4% year-over-year (369 vs 355).

NEW LISTINGS / INVENTORY
• During the 12 months ending August 31, 2019, a total of 652 new listings were added to the
market, this is approximately 7% more listings than the same time period 12 months ending
August 31, 2018.
• Available inventory as of August 31, 2019 consisted of 333 units, a decrease of 3% vs the same time
period in 2018. Current inventory represents 11 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE
• The year-over-year average sales price for the area was $3,822,571, which increased 18% vs the
same time period in 2018.
• The median sales price for the area increased 16% to $2,756,979 vs $2,378,125 in 2018.

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 August 31, 2019 for the luxury market from
Port Royal to Bonita Beach Road area decreased 14% year-over-year (379 vs 441).

NEW LISTINGS / INVENTORY
• During the 12 months ending August 31, 2019, a total of 627 new listings were added to the
market, a decrease of 3% vs the same time period, 12 months ending August 31, 2018.
• Available inventory as of August 31, 2019 consisted of 283 units, an increase of 1% vs the
same time period in 2018. Current inventory represents 9 months of supply based on current
absorption rates.

AVERAGE & MEDIAN SALES PRICE
• The year-over-year average sales price for the area was $2,002,974, an increase of 6% vs the same
time period in 2018.
• The median sales price for the area decreased 1% to $1,630,313 vs $1,620,167 in 2018.