Home of the CLHMS TM 2024 JUNE NAPLES FLORIDA www.LuxuryHomeMarketing.com
LUXURY INVENTORY VS. SALES | MAY 2024
Buyer's Market Total Inventory:
InventorySales
$20,000,000+
$15,000,000 - $19,999,999
$10,000,000 - $14,999,999
$9,000,000 - $9,999,999
$8,000,000 - $8,999,999
$7,000,000 - $7,999,999
$6,000,000 - $6,999,999
$5,000,000 - $5,999,999
$4,000,000 - $4,999,999
$3,500,000 - $3,999,999
$3,000,000 - $3,499,999
$2,800,000 - $2,999,999
$2,600,000 - $2,799,999
$2,500,000 - $2,599,999
$2,400,000 - $2,499,999
Square Feet3 -RangePrice -Median SoldBeds -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0 - 1,999 $2,650,000 3 3 1 19 5% 2,000 - 2,999 $2,650,000 3 3 5 74 7% 3,000 - 3,999 $3,225,000 4 5 34 143 24% 4,000 - 4,999 $4,670,900 5 5 15 150 10% 5,000 - 5,999 $7,600,000 4 5 7 84 8% 6,000+ $9,781,393 5 7 5 125 4% NAPLES SINGLE - FAMILY HOMES 1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 12%; Balanced >= 12 to < 21%; Seller's >= 21%. If >100% MLS® data reported previous month’s sales exceeded current inventory. 35 26 75 30 30 33 44 51 68 47 63 38 26 10 19 1 0 4 3 3 2 6 5 5 8 9 7 8 3 3
Total Sales: 67 Total Sales Ratio2 : 11% Luxury Benchmark Price 1: $2,400,000
595
13 - MONTH LUXURY MARKET TREND 4
MEDIAN DATA REVIEW | MAY
441 595 May 2023 May 2024 TOTAL INVENTORY
VARIANCE: 35 %
$1,109 $1,006 SALE PRICE PER SQFT.
VARIANCE: - 9 %
VARIANCE: 0 %
VARIANCE: 1 % 94.34% 95.24% SALE TO LIST PRICE RATIO
67 67 TOTAL SOLDS VARIANCE: - 19 % $4.45m $3.63m SALES PRICE VARIANCE: - 12 %
42 37 DAYS ON MARKET
NAPLES MARKET SUMMARY | MAY 2024
• The single-family luxury market is a Buyer's Market with a 11% Sales Ratio.
• Homes sold for a median of 95.24% of list price in May 2024.
• The most active price band is $2,600,000-$2,799,999, where the sales ratio is 31%
• The median luxury sales price for single-family homes is $3,625,000.
• The median days on market for May 2024 was 37 days, down from 42 in May 2023.
3Square foot table does not account for listings and solds where square foot data is not disclosed. 4Data reported includes Active and Sold properties and does not include Pending properties.
Solds Median Sales Price Inventory 441 393 371 358 384 451 510 532 604 679 692 654 595 67 47 33 37 34 26 19 42 32 40 62 59 67
$3,935,000 $3,400,000 $3,650,000 $3,982,463 $3,150,000 $3,349,000 $3,747,268 $3,350,000 $4,175,000 $3,960,000 $4,000,000 $3,625,000 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24
$4,450,000
NAPLES SINGLE - FAMILY HOMES
May
2024 May 2023 May 2024 May 2023 May 2024 May 2023 May 2024 May 2023 May 2024 Luxury Benchmark Price 1: $2,400,000
2023 May
$4,600,000
$4,100,000
LUXURY INVENTORY VS. SALES | MAY 2024
$1,700,000
$1,600,000
NAPLES ATTACHED HOMES Square Feet3 -RangePrice -Median SoldBeds -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0 - 1,499 $1,350,000 2 2 5 54 9% 1,500 - 1,999 $1,812,500 3 2 16 132 12% 2,000 - 2,499 $1,937,500 3 3 12 102 12% 2,500 - 2,999 $2,210,000 3 3 14 101 14% 3,000 - 3,499 $2,912,500 4 4 46 72 64% 3,500+ $6,425,000 4 5 6 53 11% 66 14 15 28 46 55 89 7 32 21 22 16 16 28 59 13 6 1 6 4 16 23 2 4 6 3 4 1 2 8 $5,100,000+
- $5,099,999
- $4,599,999 $3,600,000 - $4,099,999 $3,100,000 - $3,599,999 $2,600,000 - $3,099,999 $2,100,000 - $2,599,999 $2,000,000 - $2,099,999 $1,900,000 - $1,999,999
- $1,899,999
$1,800,000
- $1,799,999
- $1,699,999
- $1,599,999 $1,400,000 - $1,499,999 $1,275,000 - $1,399,999
$1,500,000
Inventory Sales Luxury
Balanced Market Total Inventory: 514 Total Sales: 99 Total Sales Ratio2 : 19% 1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 12%; Balanced >= 12 to < 21%; Seller's >= 21%. If >100% MLS® data reported previous month’s sales exceeded current inventory.
Benchmark Price 1: $1,275,000
13 - MONTH LUXURY MARKET TREND 4
Solds Median Sales Price Inventory
MEDIAN DATA REVIEW | MAY
• The attached luxury market is a Balanced Market with a 19% Sales Ratio.
• Homes sold for a median of 97.65% of list price in May 2024.
• The most active price band is $4,600,000-$5,099,999, where the sales ratio is
• The median luxury sales price for attached homes is $2,565,000.
• The median days on market for May 2024 was 59 days, up from 28 in May 2023.
294 255 231 220 255 354 401 401 511 563 605 579 514 82 50 29 32 28 35 33 45 34 39 75 169 99 $2,100,000 $2,150,000 $1,850,000 $2,025,000 $1,940,000 $1,800,000 $2,470,000 $2,295,000 $2,050,000 $2,400,000 $2,350,000 $2,480,000 $2,565,000 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 3Square
VARIANCE: 75 % 294 514 VARIANCE: 21 % 82 99 VARIANCE: 22 % $2.10m $2.57m SALES PRICE VARIANCE: 111 % 28 59 DAYS ON MARKET VARIANCE: 1 % 97.12% 97.65% SALE TO LIST PRICE RATIO VARIANCE: 1 % $987 $996 SALE PRICE PER SQFT. NAPLES
NAPLES ATTACHED HOMES
foot table does not account for listings and solds where square foot data is not disclosed. 4Data reported includes Active and Sold properties and does not include Pending properties.
MARKET SUMMARY | MAY 2024
43%
May 2023 May 2024 May 2023 May 2024 May 2023 May 2024 May 2023 May 2024 May 2023 May 2024 May 2023 May 2024
TOTAL
SOLDS
INVENTORY TOTAL
Luxury Benchmark Price 1: $1,275,000
