Page 3 - William Raveis December 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 December 31, 2018 for the luxury market from
Port Royal to Bonita Beach Road area improved 7% year-over-year (361 vs 337).

NEW LISTINGS / INVENTORY
• During the 12 months ending December 31, 2018, a total of 651 new listings were added to the
market, this is approximately 6% more listings than the same time period 12 months ending
December 31, 2017.
• Available inventory as of December 31, 2018 consisted of 410 units, an increase of 3% vs the same
time period in 2017. Current inventory represents 14 months of supply based on current absorption
rates.

AVERAGE & MEDIAN SALES PRICE
• The year-over-year average sales price for the area was $3,522,764, which increased 13% vs the
same time period in 2017.
• The median sales price for the area increased 52% to $2,950,000 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 December 31, 2018 for the luxury market from
Port Royal to Bonita Beach Road area improved 27% year-over-year (444 vs 350).

NEW LISTINGS / INVENTORY
• During the 12 months ending December 31, 2018, a total of 663 new listings were added to the
market, an increase of approximately 11% vs the same time period, 12 months ending December 31,
2017.
• Available inventory as of December 31, 2018 consisted of 370 units, a decrease of 5% vs the
same time period in 2017. Current inventory represents 10 months of supply based on current
absorption rates.

AVERAGE & MEDIAN SALES PRICE
• The year-over-year average sales price for the area was $1,953,415, an increase of 4% vs the same
time period in 2017.
• The median sales price for the area decreased 3% to $1,580,000 vs 2017.

* 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.