Page 3 - William Raveis May 2019 Market Report Dustin

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.