MARCH 2019 LUXURY PROPERTIES MARKET REPORT Naples / Bonita Springs / Estero
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.
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 March 31, 2019 for the luxury market from Port Royal to Bonita Beach Road area has remained relatively, the same with a decrease less than 1%, year-over-year (348 vs 347).
NEW LISTINGS / INVENTORY •
During the 12 months ending March 31, 2019, a total of 664 new listings were added to the market, this is approximately 5% more listings than the same time period 12 months ending March 31, 2018.
•
Available inventory as of March 31, 2019 consisted of 525 units, an increase of 7% vs the same time period in 2018. Current inventory represents 18 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE •
The year-over-year average sales price for the area was $3,787,300, which increased 24% vs the same time period in 2018.
•
The median sales price for the area decreased 15% to $1,662,500 vs $1,950,000 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 March 31, 2019 for the luxury market from Port Royal to Bonita Beach Road area decreased 29% year-over-year (473 vs 335).
NEW LISTINGS / INVENTORY •
During the 12 months ending March 31, 2019, a total of 615 new listings were added to the market, a decrease of 6% vs the same time period, 12 months ending March 31, 2018.
•
Available inventory as of March 31, 2019 consisted of 463 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 $1,966,928, an increase of 5% vs the same time period in 2018.
•
The median sales price for the area increased 1% to $1,457,500 vs $1,410,000 in 2018.
New Listings | Closed Units 12 Month Comparisons Naples, Bonita Springs and Estero - Single Family Properties 14,000 12,000
11,543
11,147
10,550
11,534 10,812
10,000 8,000
7,098
6,922
6,840
6,760
6,985
New Listings Closed Units
6,000 4,000 2,000 0
Apr/14-Mar/15 Apr/15-Mar/16 Apr/16-Mar/17 Apr/17-Mar/18 Apr/18-Mar/19
Naples, Bonita Springs and Estero - Condominiums 12,000
10,000 8,642
8,286
9,192
8,864
8,998
8,000 6,431 6,000
5,966
5,457
5,526
5,679
New Listings Closed Units
4,000
2,000
0
Apr/14-Mar/15 Apr/15-Mar/16 Apr/16-Mar/17 Apr/17-Mar/18 Apr/18-Mar/19
Average Sales Price 12 Month Comparisons
Naples, Bonita Springs and Estero - Single Family Properties $700,000
$681K $673,572
$680,000
$644K $660,000
$519K
$640,000
$597K
$644,256
$636,663
$620,000
$640K
$605,093
$600,000 $580,000
$571,890
$560,000 $540,000 $520,000
Apr/14-Mar/15
Apr/15-Mar/16
Apr/16-Mar/17
Apr/17-Mar/18
Apr/18-Mar/19
Naples, Bonita Springs and Estero - Condominiums $440,000
$378K
$381K
$423K
$402K
$422,824
$420,000
$334K $399,988
$400,000 $381,244 $380,000
$384,639
$366,859 $360,000
$340,000
$320,000
Apr/14-Mar/15
Apr/15-Mar/16
Apr/16-Mar/17
Apr/17-Mar/18
Apr/18-Mar/19
New Listings | Closed Units 12 Month Comparisons Luxury Property Market - Port Royal to Bonita Beach Road Single Family Properties $1M+ 800 682
700
675
664
633
624 600 500 400
351
339
348
347
312
New Listings Closed Units
300 200 100 0
Apr/14-Mar/15
Apr/15-Mar/16
Apr/16-Mar/17
Apr/17-Mar/18
Apr/18-Mar/19
Luxury Property Market - Port Royal to Bonita Beach Road Condominiums $1M+ 800 700
653
500 400
615
593
600
551 473
462 381 339
300
New Listings 335
299
200 100 0
Apr/14-Mar/15
Apr/15-Mar/16
Apr/16-Mar/17
Apr/17-Mar/18
Apr/18-Mar/19
Closed Units
Average Sales Price 12 Month Comparisons
Luxury Property Market - Port Royal to Bonita Beach Road Single Family Properties ($1M+) $4,500,000 $4,000,000 $3,500,000 $3,000,000
$3,787,300 $3,284,084
$3,318,354
$3.344M $3.005M
$3.829M $3,219,456
$3.144M
$3,042,127
$3.024M
$2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0
Apr/14-Mar/15
Apr/15-Mar/16
Apr/16-Mar/17
Apr/17-Mar/18
Apr/18-Mar/19
Luxury Property Market - Port Royal to Bonita Beach Road Condominiums ($1M+) $2,000,000 $1,959,772
$1,965,917
$1,966,928
$1,957,264
$1,950,000
$1,900,000
$1.974M
$2.014M
$1.947M
$1.874M
$1.967M
$1,864,642 $1,850,000
$1,800,000
$1,750,000
Apr/14-Mar/15
Apr/15-Mar/16
Apr/16-Mar/17
Apr/17-Mar/18
Apr/18-Mar/19
Neighborhood Snapshot Report
Naples, Bonita Springs and Estero Market Area 12-Month Sold Comparison Report for Select Communities
Single Family Homes ACTIVE LISTINGS
CLOSED PAST 12 MONTHS
MONTHS OF SUPPLY
Aqualane Shore
28
25
13.4
$4,868,362
Audubon
38
25
18.2
$901,704
Barefoot Beach
29
19
18.3
$4,778,343
Bonita Bay
69
84
9.9
$1,084,152
The Brooks
14
7
24
$466,769
Monthly Snapshot as of March 31, 2019
AVERAGE CLOSED PRICE
Colliers Reserve
21
18
14
$1,143,111
Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront
127
90
16.9
$2,050,326
Park Shore/Moorings/ Seagate/Couquina Sands Waterfront
33
27
14.7
$3,322,911
Crossings
6
18
4
$756,690
Grey Oaks
65
42
18.6
$1,957,926
Kensington
17
15
13.6
$1,013,068
Lely Resort
135
115
14.1
$603,660
Mediterra
72
41
21.1
$2,239,753
Monterey
17
32
6.4
$783,453
Olde Naples
102
65
18.8
$4,056,531
Palmira Golf and Country Club
39
31
15.1
$556,270
Pelican Bay
74
64
13.9
$2,571,432
Pelican Landing
58
56
12.4
$783,036
The Colony At Pelican Landing
17
6
34
$1,418,333
Pelican Marsh
51
37
16.5
$1,171,795
Pelican Sound
3
8
4.5
$598,000
Pine Ridge
36
33
13.1
$1,709,517
Port Royal
65
39
20
$9,031,130
Quail Creek
26
24
13
$1,009,331
Quail West
81
66
14.7
$1,932,328
Royal Harbor
47
23
24.5
$2,186,111
Tiburon
12
3
48
$2,047,500
Vanderbilt Beach
42
23
21.9
$2,172,350
Vineyards
73
76
11.5
$605,112
West Bay Club
26
20
15.6
$1,218,525
Neighborhood Snapshot Report Naples, Bonita Springs and Estero Market Area 12-Month Sold Comparison Report for Select Communities
CONDOMINIUMS Monthly Snapshot as of March 31, 2019
ACTIVE LISTINGS
CLOSED PAST 12 MONTHS
MONTHS OF SUPPLY
AVERAGE CLOSED PRICE
Bearfoot Beach
10
14
8.6
$1,469,704
Bonita Bay
122
120
12.2
$743,840
Park Shore/Moorings/ Seagate/Couquina Sands Non-Waterfront
50
81
7.4
$351,428
Park Shore/Moorings/ Seagate/Couquina Sands Waterfront
273
249
13.2
$1,213,373
The Dunes
46
29
19
$1,194,253
Grey Oaks
12
12
12
$1,036,250
Kensington
16
31
6.2
$453,115
Lely Resort
151
138
13.1
$293,331
Mediterra
13
18
8.7
$570,318
Monterey
1
2
6
$303,725
Olde Naples
139
96
17.4
$1,016,755
Palmira Golf and Country Club
25
17
17.6
$317,574
Pelican Bay
252
246
12.3
$1,217,106
Pelican Landing
68
49
16.7
$329,373
Pelican Marsh
80
81
11.9
$399,416
Pelican Sound
36
63
6.9
$315,755
Pine Ridge
15
10
18
$198,556
Tiburon
30
49
7.3
$742,820
Vanderbilt Beach
128
88
17.5
$861,697
Vineyards
121
119
12.2
$384,697
West Bay Club
11
26
5.1
$580,536
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