Page 3 - William Raveis November 2018 Market Report

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, 2018 for the luxury market
from Port Royal to Bonita Beach Road area improved 10% year-over-year (369 vs 336).

NEW LISTINGS / INVENTORY
• During the 12 months ending November 30, 2018, a total of 667 new listings were added to the
market, this is approximately 10% more listings than the same time period 12 months ending
November 30, 2017.
• Available inventory as of November 30, 2018 consisted of 397 units, an increase of 4% vs the same
time period in 2017. Current inventory represents 12 months of supply based on current absorption
rates.

AVERAGE & MEDIAN SALES PRICE
• The year-over-year average sales price for the area was $3,402,141, which increased 7% vs the
same time period in 2017.
• The median sales price for the area increased 16% to $2,672,500 vs 2017.

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, 2018 for the luxury market
from Port Royal to Bonita Beach Road area improved 36% year-over-year (461 vs 340).

NEW LISTINGS / INVENTORY
• During the 12 months ending November 30, 2018, a total of 678 new listings were added to the
market, an increase of approximately 18% vs the same time period, 12 months ending November
30, 2017.
• Available inventory as of November 30, 2018 consisted of 350 units, a decrease of 5% vs the
same time period in 2017. 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 $1,936,501, an increase of 5% vs the same
time period in 2017.
• The median sales price for the area increased 11% to $1,550,000 vs 2017.

* The source of this market data is the Southwest Florida MLS, Copyright 2018. Accuracy of this information is reliable but not guaranteed.
Anyone who chooses to use this information to make market decisions should have this data independently verified.