Page 3 - William Raveis April 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 April 30, 2019 for the luxury market from Port
Royal to Bonita Beach Road area increased 11% year-over-year (374 vs 336).

NEW LISTINGS / INVENTORY
• During the 12 months ending April 30, 2019, a total of 663 new listings were added to the market,
this is approximately 5% more listings than the same time period 12 months ending April 30, 2018.
• Available inventory as of April 30, 2019 consisted of 497 units, an increase of 5% 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 $3,712,564, which increased 19% vs the
same time period in 2018.
• The median sales price for the area decreased 4% to $1,705,000 vs $1,775,000 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 April 30, 2019 for the luxury market from Port
Royal to Bonita Beach Road area decreased 26% year-over-year (347 vs 471).

NEW LISTINGS / INVENTORY
• During the 12 months ending April 30, 2019, a total of 630 new listings were added to the market,
a decrease of 2% vs the same time period, 12 months ending April 30, 2018.
• Available inventory as of April 30, 2019 consisted of 439 units, an increase of 16% 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 $2,011,976, an increase of 8% vs the same
time period in 2018.
• The median sales price for the area increased 20% to $1,615,000 vs $1,343,000 in 2018.