Page 3 - William Raveis February 2019 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 February 28, 2019 for the luxury market from
Port Royal to Bonita Beach Road area improved 2% year-over-year (358 vs 352).

NEW LISTINGS / INVENTORY
• During the 12 months ending February 28, 2019, a total of 688 new listings were added to the
market, this is approximately 11% more listings than the same time period 12 months ending
February 28, 2018.
• Available inventory as of February 28, 2019 consisted of 518 units, an increase of 8% vs the same
time period in 2018. Current inventory represents 17 months of supply based on current absorption
rates.

AVERAGE & MEDIAN SALES PRICE
• The year-over-year average sales price for the area was $3,828,590, which increased 27% vs the
same time period in 2018.
• The median sales price for the area increased 52% to $3,800,000 vs $2,495,000 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 February 28, 2019 for the luxury market from
Port Royal to Bonita Beach Road area decreased 27% year-over-year (341 vs 465).

NEW LISTINGS / INVENTORY
• During the 12 months ending February 28, 2019, a total of 642 new listings were added to the
market, which is no increase vs the same time period, 12 months ending February 28, 2018.
• Available inventory as of February 28, 2019 consisted of 474 units, an increase of 15% vs the
same time period in 2018. Current inventory represents 17 months of supply based on current
absorption rates.

AVERAGE & MEDIAN SALES PRICE
• The year-over-year average sales price for the area was $1,971,538, a decrease of 3% vs the same
time period in 2018.
• The median sales price for the area decreased 12% to $1,600,000 vs $1,820,000 in 2018.

* 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.