OCTOBER 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 October 31, 2019 for the Naples, Bonita Springs and Estero Area increased 5% year-over-year (7,395 vs 7,015).
•
There were 23 closed sales, priced above two million, in October 2019 compared to 21 in October 2018 a 10% increase. During the 12 months ending October 31, 2019, sales in this category decreased 9% over the same time period in 2018 (374 vs 411).
NEW LISTINGS / INVENTORY •
During the 12 months ending October 31, 2019, a total of 11,411 new listings were added to the market, this is 3% fewer vs. the same time period 12 months ending October 31, 2018.
•
Available inventory as of October 31, 2019 consisted of 4,768 units, a decrease of 6% vs the same time period in 2018. Current inventory represents 9 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE •
The year-over-year average sales price for the area was $652,000 which remained relatively the same with a decrease of less than 2% vs. the same time period in 2018.
•
The median sales price for the area decreased 2% to $384,416 from $391,879 in 2018.
NAPLES, BONITA SPRINGS AND ESTERO – CONDOMINIUMS CLOSED SALES •
The number of closed sales in the 12 months ending October 31, 2019 for the Naples, Bonita Springs and Estero Area was flat year-over-year (5,860 vs 5,840).
•
There were 7 closed sales priced above two million in October 31, 2019, 36% fewer than October 2018. During the 12 months ending October 31, 2019, sales in this category increased 6% over the same time period in 2018 (153 vs 144 units).
NEW LISTINGS / INVENTORY •
During the 12 months ending October 31, 2019, a total of 8,847 new listings were added to the market, a 6% decrease vs. the same time period 12 months ending October 31, 2018.
•
Available inventory as of October 31, 2019 consisted of 3,627 units, a decrease of 10% vs the same time period in 2018. Current inventory represents 7 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE •
The year-over-year average sales price for the area was $410,000, a decrease of 2% vs the same time period in 2018.
•
The median sales price for the area remained relatively the same with a decrease of 2% to $243,740 vs. 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.
LUXURY MARKET $1M+ (WEST OF 41) PORT ROYAL TO BONITA BEACH AREA – SINGLE FAMILY PROPERTIES CLOSED SALES •
The number of closed sales in the 12 months ending October 31, 2019 for the luxury market from Port Royal to Bonita Beach Area increased 2% year-over-year (389 vs 381).
NEW LISTINGS / INVENTORY •
During the 12 months ending October 31, 2019, a total of 685 new listings were added to the market, this is approximately 1% fewer listings than the same time period 12 months ending October 31, 2018.
•
Available inventory as of October 31, 2019 consisted of 376 units, a decrease of 5% vs the same time period in 2018. Current inventory represents 15 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE •
The year-over-year average sales price for the area was $3,942,000, which decreased 10% vs the same time period in 2018.
•
The median sales price for the area increased 11% to $2,744,666 from $2,474,375.
LUXURY MARKET $1M+ (WEST OF 41) PORT ROYAL TO BONITA BEACH AREA - CONDOMINIUMS CLOSED SALES •
The number of closed sales in the 12 months ending October 31, 2019 for the luxury market from Port Royal to Bonita Beach Area decreased 16% year-over-year (379 vs 451).
NEW LISTINGS / INVENTORY •
During the 12 months ending October 31, 2019, a total of 633 new listings were added to the market, a decrease of 6% vs the same time period 12 months ending October 31, 2018.
•
Available inventory as of October 31, 2019 consisted of 334 units, an increase of 3% 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 $2,269,000, an increase of 19% vs the same time period in 2018.
•
The median sales price for the area decreased 3% to $1,571,354 from $1,618,500.
* 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.
New Listings | Closed Units 12 Month Comparisons Naples, Bonita Springs and Estero - Single Family Properties 12,000 New Listings
10,000
2015 ---------------- 10,713 2016 ---------------- 11,561 2017 ---------------- 10,652 2018 ---------------- 11,752 2019 ---------------- 11,411
8,000
6,000 Closed Units
4,000
2015 ---------------- 7,235 2016 ---------------- 6,551 2017 ---------------- 6,915 2018 ---------------- 7,015 2019 ---------------- 7,395
2,000 0
2015
2016
2017
2018
2019
Naples, Bonita Springs and Estero - Condominiums 10,000
New Listings 2015 ----------------- 8,135 2016 ----------------- 9,017 2017 ----------------- 8,737 2018 ----------------- 9,368 2019 ----------------- 8,847
8,000
6,000
Closed Units
4,000
2015 ----------------- 6,336 2016 ----------------- 5,336 2017 ----------------- 5,501 2018 ----------------- 5,840 2019 ----------------- 5,860
2,000
0
2015
2016
2017
2018
2019
* 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.
Average Sales Price 12 Month Comparisons
Naples, Bonita Springs and Estero - Single Family Properties $800,000 $700,000 $600,000
$615K
$613K
2015
2016
$631K
$665K
$652K
2018
2019
$500,000 $400,000 $300,000 $200,000
$500,000
2017
Naples, Bonita Springs and Estero - Condominiums
$400,000 $372K
$383K
$395K
$417K
$410K
2018
2019
$300,000
$200,000
$100,000
0
2015
2016
2017
* 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.
New Listings | Closed Units 12 Month Comparisons Luxury Property Market - Port Royal to Bonita Beach Area (West of 41) Single Family Properties $1M+ 800
New Listings 2015 -----------------2016 -----------------2017 -----------------2018 -----------------2019 ------------------
700 600
663 724 644 690 685
500 400 Closed Units
300
2015 ------------------ 373 2016 ------------------ 317 2017 ------------------ 346 2018 ------------------ 381 2019 ------------------ 389
200
0
700
2015
2016
2017
2018
2019
Luxury Property Market - Port Royal to Bonita Beach Area (West of 41) Condominiums $1M+
600
New Listings
500
2015 ------------------ 492 2016 ------------------ 599 2017 ------------------ 580 2018 ------------------ 6 7 2 2019 ------------------ 633
400 300
Closed Units 2015 ------------------ 342 2016 ------------------ 306 2017 ------------------ 343 2018 ------------------ 451 2019 ------------------ 379
200 100
2015
2016
2017
2018
2019
* 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.
Average Sales Price 12 Month Comparisons
Luxury Property Market - Port Royal to Bonita Beach Area (West of 41) Single Family Properties ($1M+) $4,500,000 $4,000,000
$4.374M $3.933M
$4.039M
$4.035M
2015
2016
2017
$3.942M
$3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 0
2018
2019
Luxury Property Market - Port Royal to Bonita Beach Area (West of 41) Condominiums ($1M+) $2,500,000 $2,000,000
$2.219M
$2.316M
$2.200M
$2.263M
$2.269M
2017
2018
2019
$1,500,000
$1,000,000
$500,000
0
2015
2016
* 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.
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 Shores
23
18
15
$4,409,464
Audubon
34
22
17
$1,039,708
Barefoot Beach
18
20
10
$5,060,785
Bonita Bay
41
76
7
$940,561
The Brooks
2
14
2
$479,133
Colliers Reserve
14
14
12
$1,454,600
Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront
92
107
11
$2,077,748
Park Shore/Moorings/ Seagate/Coquina Sands Waterfront
23
31
9
$3,474,201
Crossings
7
14
6
$720,750
Grey Oaks
56
37
18
$2,075,964
Kensington
13
16
10
$873,765
Lely Resort
105
117
11
$589,781
Mediterra
63
40
19
$2,237,119
Monterey
12
24
6
$773,668
Olde Naples
66
78
10
$4,003,961
Palmira Golf & Country Club
30
39
9
$557,556
Pelican Bay
58
53
13
$2,335,567
Pelican Landing
41
65
8
$830,361
Pelican Landing (The Colony)
13
8
20
$1,461,429
Pelican Marsh
35
40
10
$953,446
Pelican Sound
2
5
4
$571,900
Pine Ridge
41
29
17
$1,748,347
Port Royal
42
40
12
$9,773,064
Monthly Snapshot as of October 31, 2019
AVERAGE CLOSED PRICE
Quail Creek
15
23
7
$1,043,294
Quail West
53
53
12
$1,837,719
Royal Harbor
31
24
15
$2,103,074
Tiburon
10
7
5
$1,300,333
Vanderbilt Beach
28
32
11
$1,883,275
Vineyards
47
66
85
$662,754
West Bay Club
20
15
16
$1,209,438
* 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.
Neighborhood Snapshot Report Naples, Bonita Springs and Estero Market Area 12-Month Sold Comparison Report for Select Communities
CONDOMINIUMS ACTIVE LISTINGS
CLOSED PAST 12 MONTHS
MONTHS OF SUPPLY
8
18
8
$1,590,278
Bonita Bay
79
127
7
$862,980
Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront
54
53
12
$420,338
Park Shore/Moorings/ Seagate/Coquina Sands Waterfront
190
289
8
$1,375,101
The Dunes
32
36
11
$1,186,992
Grey Oaks
7
13
6
$920,648
Monthly Snapshot as of October 31, 2019 Barefoot Beach
AVERAGE CLOSED PRICE
Kensington
14
16
11
$476,416
Lely Resort
110
172
8
$307,350
Mediterra
19
11
18
$587,194
Monterey
1
1
1
$315,000
Olde Naples
91
110
10
$1,035,012
Palmira Golf & Country Club
16
20
10
$304,282
200
236
10
$1,338,837
Pelican Bay Pelican Landing
36
76
6
$326,855
Pelican Marsh
48
90
6
$386,333
Pelican Sound
12
66
2
$290,884
Pine Ridge
10
14
8
$199,305
Tiburon
22
39
7
$729,028
Vanderbilt Beach
85
87
12
$804,866
Vineyards
73
119
7
$362,643
West Bay Club
11
18
7
$588,176
* 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.
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