Page 2 - William Raveis March 2019 Market Report

NAPLES, BONITA SPRINGS AND ESTERO – SINGLE FAMILY PROPERTIES

CLOSED SALES
• The number of closed sales in the 12 months ending March 31, 2019 for the Naples, Bonita
Springs and Estero area increased 3% year-over-year (6,985 vs 6,760).
• There were 38 closed sales, priced above two million, in March 2019 compared to 52 in March 2018
a 37% decrease. During the 12 months ending March 31, 2019, sales in this category increased 5%
over the same time period in 2018 (393 vs 373).

NEW LISTINGS / INVENTORY
• During the 12 months ending March 31, 2019, a total of 11,534 new listings were added to the
market, this is 7% more listings than the same time period, 12 months ending March 31, 2018.
• Available inventory as of March 31, 2019 consisted of 6,142 units, an increase of 6% vs the
same time period in 2018. Current inventory represents 11 months of supply based on current
absorption rates.

AVERAGE & MEDIAN SALES PRICE
• The year-over-year average sales price for the area was $673,572 which improved over the same
time period in 2018, representing an increase of 5%.
• The median sales price for the area decreased 3% to $382,020 vs $395,000 in 2018.

NAPLES, BONITA SPRINGS AND ESTERO – CONDOMINIUMS

CLOSED SALES
• The number of closed sales in the 12 months ending March 31, 2019 for the Naples, Bonita Springs
and Estero area increased 3% year-over-year (5,679 vs 5,526).
• There were 14 closed sales, priced above two million, in March 2019 compared to 15 in March 2018
a 7% decrease. During the 12 months ending March 31, 2019, sales in this category decreased 16%
over the same time period in 2018 (153 vs 128 units).
NEW LISTINGS / INVENTORY
• During the 12 months ending March 31, 2019, a total of 8,993 new listings were added to
the market, approximately 1% more listings than the same time period 12 months ending March
31, 2018.
• Available inventory as of March 31, 2019 consisted of 5,059 units, an decrease of 1% vs the same
time period in 2018. Current inventory represents 11 months of supply based on current absorption
rate.

AVERAGE & MEDIAN SALES PRICE
• The year-over-year average sales price for the area was $399,988, a decrease of 5% vs the same
time period in 2018.
• The median sales price for the area decreased 1% to $263,000 vs $264,900 in 2018.