Page 3 - William Raveis May 2019 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 May 31, 2019 for the luxury market from Port
Royal to Bonita Beach Road area increased 7% year-over-year (366 vs 342).

NEW LISTINGS / INVENTORY
• During the 12 months ending May 31, 2019, a total of 657 new listings were added to the market,
this is approximately 5% more listings than the same time period 12 months ending May 31, 2018.
• Available inventory as of May 31, 2019 consisted of 459 units, an increase of 6% vs the same time
period in 2018. Current inventory represents 16 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE
• The year-over-year average sales price for the area was $3,696,351, which increased 17% vs the
same time period in 2018.
• The median sales price for the area decreased 6% to $2,577,500 vs $2,742,500 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 May 31, 2019 for the luxury market from Port
Royal to Bonita Beach Road area decreased 23% year-over-year (347 vs 450).

NEW LISTINGS / INVENTORY
• During the 12 months ending May 31, 2019, a total of 619 new listings were added to the market, a
decrease of 5% vs the same time period, 12 months ending May 31, 2018.
• Available inventory as of May 31, 2019 consisted of 396 units, an increase of 17% vs the
same time period in 2018. Current inventory represents 15 months of supply based on current
absorption rates.

AVERAGE & MEDIAN SALES PRICE
• The year-over-year average sales price for the area was $2,026,661, an increase of 8% vs the same
time period in 2018.
• The median sales price for the area decreased 2% to $1,735,000 vs $1,775,000 in 2018.

* The source of this market data is the Southwest Florida MLS, Copyright 2019. 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.