NAPLES FLORIDA
TM 2024 MAY
Home of the CLHMS
LUXURY INVENTORY VS. SALES | APRIL 2024
Buyer's Market
$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 $2,775,000 3 2 2 20 10% 2,000 - 2,999 $2,612,500 3 4 8 88 9% 3,000 - 3,999 $3,537,500 4 4 26 168 15% 4,000 - 4,999 $4,875,000 4 5 10 154 6% 5,000 - 5,999 $5,797,500 5 6 4 88 5% 6,000+ $12,300,000 5 7 9 136 7% 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. 40 29 76 34 30 36 45 57 78 54 66 41 32 10 26 1 2 4 2 1 2 4 7 7 3 5 7 4 7 3
Inventory Sales
Total Sales: 59 Total Sales Ratio2 : 9% Luxury Benchmark Price 1: $2,400,000
Total Inventory: 654
13 - MONTH LUXURY MARKET TREND 4
MEDIAN DATA REVIEW | APRIL
481 654 Apr. 2023 Apr. 2024 TOTAL INVENTORY VARIANCE: 34 % 44 59 TOTAL SOLDS VARIANCE: 20 % $3.33m $4.00m SALES PRICE
VARIANCE: 36 %
VARIANCE: 17 % $956 $1,118 SALE PRICE PER SQFT.
VARIANCE: - 1 % 94.94% 94.27% SALE TO LIST PRICE RATIO
VARIANCE: 38 % 29 40 DAYS ON MARKET
NAPLES MARKET SUMMARY | APRIL 2024
• The single-family luxury market is a Buyer's Market with a 9% Sales Ratio.
• Homes sold for a median of 94.27% of list price in April 2024.
• The most active price band is $2,500,000-$2,599,999, where the sales ratio is 70%
• The median luxury sales price for single-family homes is $4,000,000.
• The median days on market for April 2024 was 40 days, up from 29 in April 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 481 441 393 371 358 384 451 510 532 604 679 692 654 44 67 47 33 37 34 26 19 42 32 40 62 59 $3,325,000 $4,450,000 $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 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24
HOMES
NAPLES SINGLE - FAMILY
Apr. 2023 Apr. 2024 Apr. 2023 Apr. 2024 Apr. 2023 Apr. 2024 Apr. 2023 Apr. 2024 Apr. 2023 Apr. 2024 Luxury Benchmark Price
$2
400
000
1:
,
,
Luxury Benchmark Price 1: $1,275,000
LUXURY INVENTORY VS. SALES | APRIL 2024
Seller's Market
$4,600,000
$4,100,000
$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 $1,700,000 2 2 5 56 9% 1,500 - 1,999 $1,787,500 3 2 16 154 10% 2,000 - 2,499 $1,995,000 3 3 32 115 28% 2,500 - 2,999 $2,325,000 3 3 19 122 16% 3,000 - 3,499 $2,710,000 4 4 96 77 125% 3,500+ $2,780,000 3 4 1 55 2% 72 9 18 35 51 64 102 12 31 22 22 22 26 37 56 5 6 11 7 11 28 55 5 6 3 9 3 2 6 12 $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
-
$1,800,000
$1,899,999
- $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
Total
Total
Total
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.
Inventory: 579
Sales: 169
Sales Ratio2 : 29%
Luxury Benchmark Price 1: $1,275,000
13 - MONTH LUXURY MARKET TREND 4
Median Sales Price Inventory
Solds
MEDIAN DATA REVIEW | APRIL
APRIL 2024
• The attached luxury market is a Seller's Market with a 29% Sales Ratio.
• Homes sold for a median of 100.00% of list price in April 2024.
• The most active price band is $4,600,000-$5,099,999, where the sales ratio is 67%
• The median luxury sales price for attached homes is $2,480,000.
• The median days on market for April 2024 was 31 days, up from 29 in April 2023.
299 294 255 231 220 255 354 401 401 511 563 605 579 84 82 50 29 32 28 35 33 45 34 39 75 169 $2,030,000 $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 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24
% 299 579 VARIANCE: 101 % 84 169 VARIANCE: 22 % $2.03m $2.48m SALES PRICE VARIANCE: 7
VARIANCE:
% 97.15% 100.00%
LIST PRICE RATIO
NAPLES ATTACHED HOMES
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. VARIANCE: 94
% 29 31 DAYS ON MARKET
3
SALE TO
VARIANCE: - 11 % $966 $857 SALE PRICE PER SQFT. NAPLES MARKET SUMMARY |
Apr. 2023 Apr. 2024 Apr. 2023 Apr. 2024 Apr. 2023 Apr. 2024 Apr. 2023 Apr. 2024 Apr. 2023 Apr. 2024 Apr. 2023 Apr. 2024
TOTAL INVENTORY TOTAL SOLDS
