DECEMBER Home of the CLHMS
TM
NAPLES F LO RI D A www.LuxuryHomeMarketing.com
2023
NAPLES
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | NOVEMBER 2023 Inventory
Sales
Luxury Benchmark Price 1: $2,400,000
Total Inventory: 510 Total Sales: 19
$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
35
0
58
0 21
0
28
0
30
1
$6,000,000 - $6,999,999
$2,400,000 - $2,499,999
1
59
3 37
0
$3,000,000 - $3,499,999
$2,500,000 - $2,599,999
37
3
$4,000,000 - $4,999,999
$2,600,000 - $2,799,999
37
2
$5,000,000 - $5,999,999
$2,800,000 - $2,999,999
Total Sales Ratio2: 4%
21
0
$7,000,000 - $7,999,999
$3,500,000 - $3,999,999
Buyer's Market
59
5
41
1 20
1 10
1
17
2
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,999
NA
NA
NA
0
30
0%
2,000 - 2,999
$4,118,750
4
4
2
77
3%
3,000 - 3,999
$3,175,000
3
4
7
127
6%
4,000 - 4,999
$4,074,500
4
6
8
118
7%
5,000 - 5,999
$6,650,000
4
6
1
66
2%
6,000+
$7,000,000
4
6
1
92
1%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
NAPLES
SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4 Median Sales Price
$4,537,500
$4,550,000
$4,500,000
Inventory
Solds
$4,450,000
$3,935,000 $3,000,000
458
417
349
335
$3,405,770
$3,325,000
494
481
$3,400,000
441
393
371
$3,982,463
$3,650,000
$3,349,000
$3,150,000
510
451
384
358
31
48
41
41
61
44
67
47
33
37
34
26
19
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
MEDIAN DATA REVIEW | NOVEMBER TOTAL INVENTORY Nov. 2022
Nov. 2023
335
TOTAL SOLDS Nov. 2022
Nov. 2023
510 VARIANCE: 52 %
31
19 VARIANCE: -39 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
Nov. 2022
Nov. 2023
Nov. 2022
1,244
$
995 VARIANCE: -20 %
95.16%
$
SALES PRICE Nov. 2022
Nov. 2023
3.00m
$
$
Nov. 2023
96.10% VARIANCE: 1 %
3.35m VARIANCE: 12 %
DAYS ON MARKET Nov. 2022
Nov. 2023
37
19 VARIANCE: -49 %
NAPLES MARKET SUMMARY | NOVEMBER 2023 • The Naples single-family luxury market is a Buyer's Market with a 4% Sales Ratio. • Homes sold for a median of 96.10% of list price in November 2023. • The most active price band is $2,400,000-$2,499,999, where the sales ratio is 12%. • The median luxury sales price for single-family homes is $3,349,000. • The median days on market for November 2023 was 19 days, down from 37 in November 2022.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
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NAPLES
ATTACHED HOMES
LUXURY INVENTORY VS. SALES | NOVEMBER 2023 Inventory
Sales
Luxury Benchmark Price 1: $1,275,000 $5,100,000+ $4,600,000 - $5,099,999 $4,100,000 - $4,599,999
46
1 11
1
10
1
23
1 17
3 11
1
$1,600,000 - $1,699,999
18
2
$1,500,000 - $1,599,999
1
67
7
$1,800,000 - $1,899,999
$1,275,000 - $1,399,999
35
5
$2,100,000 - $2,599,999
$1,400,000 - $1,499,999
Total Sales Ratio2: 8%
23
3
$2,600,000 - $3,099,999
$1,700,000 - $1,799,999
Buyer's Market
28
2
$3,100,000 - $3,599,999
$1,900,000 - $1,999,999
Total Sales: 33
20
1
$3,600,000 - $4,099,999
$2,000,000 - $2,099,999
Total Inventory: 401
25
2 22
1
45
2
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,499
NA
NA
NA
0
39
0%
1,500 - 1,999
$1,675,000
2
2
8
116
7%
2,000 - 2,499
$2,035,000
3
3
6
81
7%
2,500 - 2,999
$2,610,000
3
4
12
78
15%
3,000 - 3,499
$3,375,000
3
4
6
45
13%
3,500+
$4,450,000
4
4
1
42
2%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
NAPLES
ATTACHED HOMES
13 - MONTH LUXURY MARKET TREND 4 Sale Price
$2,225,000
Solds
$2,470,000 $2,152,500
$2,195,000
$2,195,000
273
234
174
158
Inventory
137
31
42
Nov-22
Dec-22
49
Jan-23
Feb-23
$2,000,000
$2,030,000
$2,100,000
281
299
294
$2,150,000 $1,850,000
$2,025,000
$1,940,000
$1,800,000
401
354
255
78
84
82
Mar-23
Apr-23
May-23
231
255
220
50
29
32
28
35
33
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
MEDIAN DATA REVIEW | NOVEMBER TOTAL INVENTORY Nov. 2022
Nov. 2023
158
401 VARIANCE: 154 % SALE PRICE PER SQFT. Nov. 2022
Nov. 2023
977
$
973 VARIANCE: 0 % $
TOTAL SOLDS Nov. 2022
Nov. 2023
31
33 VARIANCE: 6 %
SALE TO LIST PRICE RATIO Nov. 2022
Nov. 2023
96.07% 96.20% VARIANCE: 0 %
SALES PRICE Nov. 2022
Nov. 2023
2.23m
$
$
2.47m VARIANCE: 11 %
DAYS ON MARKET Nov. 2022
Nov. 2023
61
54 VARIANCE: -11 %
NAPLES MARKET SUMMARY | NOVEMBER 2023 • The Naples attached luxury market is a Buyer's Market with an 8% Sales Ratio. • Homes sold for a median of 96.20% of list price in November 2023. • The most active price band is $1,800,000-$1,899,999, where the sales ratio is 18%. • The median luxury sales price for attached homes is $2,470,000. • The median days on market for November 2023 was 54 days, down from 61 in November 2022.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3