Page 2 - William Raveis May 2019 Market Report Dustin

NAPLES, BONITA SPRINGS AND ESTERO – SINGLE FAMILY PROPERTIES

CLOSED SALES
• The number of closed sales in the 12 months ending May 31, 2019 for the Naples, Bonita
Springs and Estero area increased 4% year-over-year (7,127 vs 6,850).
• There were 41 closed sales, priced above two million, in May 2019 compared to 57 in May 2018 a
28% decrease. During the 12 months ending May 31, 2019, sales in this category decreased 1% over
the same time period in 2018 (382 vs 386).

NEW LISTINGS / INVENTORY
• During the 12 months ending May 31, 2019, a total of 11,591 new listings were added to the market,
this is 7% more listings than the same time period, 12 months ending May 31, 2018.
• Available inventory as of May 31, 2019 consisted of 5,550 units, an increase of 4% 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 $667,871 which improved over the same
time period in 2018, representing an increase of 2%.
• The median sales price for the area increased 4% to $400,000 vs $385,000 in 2018.

NAPLES, BONITA SPRINGS AND ESTERO – CONDOMINIUMS

CLOSED SALES
• The number of closed sales in the 12 months ending May 31, 2019 for the Naples, Bonita Springs
and Estero area increased 5% year-over-year (5,862 vs 5,565).
• There were 23 closed sales, priced above two million, in May 2019 compared to 24 in May 2018 a
4% decrease. During the 12 months ending May 31, 2019, sales in this category increased 1% over
the same time period in 2018 (143 vs 142 units).
NEW LISTINGS / INVENTORY
• During the 12 months ending May 31, 2019, a total of 8,987 new listings were added to
the market, approximately 1% more listings than the same time period 12 months ending May
31, 2018.
• Available inventory as of May 31, 2019 consisted of 4,295 units, a decrease of 5% vs the same time
period in 2018. Current inventory represents 9 months of supply based on current absorption rate.

AVERAGE & MEDIAN SALES PRICE
• The year-over-year average sales price for the area was $403,869, a decrease of 3% vs the same
time period in 2018.
• The median sales price for the area decreased 2% to $255,000 vs $259,000 in 2018.