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OCTOBER 2020 LUXURY PROPERTIES MARKET REPORT RE EA AL L E ES ST TA AT TE E R
Naples | Bonita Springs
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REAL ESTATE
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REAL ESTATE
NAPLES AND BONITA SPRINGS – SINGLE FAMILY PROPERTIES CLOSED SALES •
The number of closed sales in the 12 months ending October 31, 2020 for the Naples and Bonita Springs Area increased 19% year-over-year (7,884 vs 6,640).
•
There were 79 closed sales, priced above two million, in October 2020 compared to 24 in October 2019, a 229% increase. During the 12 months ending October 31, 2020, sales in this category increased 47% over the same time period in 2019 (521 vs 354).
NEW LISTINGS / INVENTORY •
During the 12 months ending October 31, 2020, a total of 10,244 new listings were added to the market, this is a decrease of less than 1% vs the same time period 12 months ending October 31, 2019.
•
Available inventory as of October 31, 2020 consisted of 3,599 units, a decrease of 20% vs the same time period in 2019. Current inventory represents 4.6 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE •
The year-over-year average sales price for the area was $729,184 a 7% increase vs the same time period in 2019.
•
The median sales price for the area in October 2020 increased 24% to $477,500 vs October 2019.
NAPLES AND BONITA SPRINGS – CONDOMINIUMS CLOSED SALES •
The number of closed sales in the 12 months ending October 31, 2020 for the Naples and Bonita Springs Area increased 6% year-over-year (5,613 vs 5,300).
•
There were 20 closed sales priced above two million compared to 7 in October 2019, a 186% increase. During the 12 months ending October 31, 2020, sales in this category increased 40% vs the same time period in 2019 (209 vs 149 units).
NEW LISTINGS / INVENTORY •
During the 12 months ending October 31, 2020, a total of 8,199 new listings were added to the market, remaining relatively the same with an increase of 1% vs the same time period 12 months ending October 31, 2019.
•
Available inventory as of October 31, 2020 consisted of 3,264 units, a decrease of 6% vs the same time period in 2019. Current inventory represents 5.4 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE •
The year-over-year average sales price for the area was $478,197, an increase of 10% vs the same time period in 2019.
•
The median sales price for the area in October 2020 increased 20% to $287,000 vs October 2019.
* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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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LUXURY MARKET $1M+ (WEST OF 41) PORT ROYAL TO BONITA BEACH ROAD AREA – SINGLE FAMILY PROPERTIES CLOSED SALES •
The number of closed sales in the 12 months ending October 31, 2020 for the luxury market from Port Royal to Bonita Beach Road Area increased 27% year-over-year (461 vs 364).
NEW LISTINGS / INVENTORY •
During the 12 months ending October 31, 2020, a total of 688 new listings were added to the market, an increase of 7% compared to the same time period 12 months ending October 31, 2019.
•
Available inventory as of October 31, 2020 consisted of 328 units, a decrease of 10% vs the same time period in 2019 (328 vs 363). Current inventory represents 5 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE •
The year-over-year average sales price for the area was $3,433,640, a decrease of 13% vs the same time period in 2019.
•
The median sales price for the area in October 2020 increased 38% to $2,900,000 vs October 2019.
LUXURY MARKET $1M+ (WEST OF 41) PORT ROYAL TO BONITA BEACH ROAD AREA - CONDOMINIUMS CLOSED SALES •
The number of closed sales in the 12 months ending October 31, 2020 for the luxury market from Port Royal to Bonita Beach Road Area increased 35% year-over-year (490 vs 363).
NEW LISTINGS / INVENTORY •
During the 12 months ending October 31, 2020, a total of 765 new listings were added to the market, an increase of 24% vs the same time period 12 months ending October 31, 2019.
•
Available inventory as of October 31, 2020 consisted of 313 units, a 5% decrease vs the same time period in 2019. Current inventory represents 5.9 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE •
The year-over-year average sales price for the area was $2,084,563, a decrease of 2% vs the same time period in 2019.
•
The median sales price for the area in October 2020 increased 16% to $1,750,000 vs October 2019.
* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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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New Listings | Closed Units 12 Month Comparisons Naples and Bonita Springs - Single Family Properties 12,000
New Listings
10,000
2016 ---------------- 10,246 2017 ---------------- 9,434 2018 ---------------- 10,499 2019 ---------------- 10,294 2020 --------------- 10,244
8,000
6,000
Closed Units
4,000
2016 ---------------- 5,795 2017 ---------------- 6,139 2018 ----------------- 6,225 2019 ---------------- 6,640 2020 --------------- 7,884
2,000
0 2016
2017
2018
2019
2020
Naples and Bonita Springs - Condominiums 10,000
New Listings 2016 ----------------- 8,148 2017 ----------------- 7,808 2018 ----------------- 8,477 2019 ----------------- 8,139 2020 ----------------- 8,199
8,000
6,000
Closed Units
4,000
2016 ----------------- 4,819 2017 ----------------- 4,919 2018 ----------------- 5,192 2019 ----------------- 5,300 2020 ----------------- 5,613
2,000
0 2016
2017
2018
2019
2020
* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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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Average Sales Price 12 Month Comparisons Naples and Bonita Springs - Single Family Properties $800,000 $700,000
$694K $600,000
$639K
$657K
$729K $684K
$500,000 $400,000 $300,000 $200,000
2016
2017
2018
2019
2020
Naples and Bonita Springs - Condominiums $500,000
$478K $400,000
$398K
$439K
$436K
2018
2019
$413K
$300,000
$200,000
$100,000
0
2016
2017
2020
* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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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New Listings | Closed Units 12 Month Comparisons Luxury Property Market - Port Royal to Bonita Beach Road Area (West of 41) Single Family Properties $1M+ 800
New Listings
700
2016 ---------------- 690 2017 ---------------- 605 2018 ---------------- 658 2019 ---------------- 641 2020 --------------- 688
600 500 400
Closed Units
300
2016 ---------------- 301 2017 ---------------- 313 2018 ----------------- 357 2019 ---------------- 364 2020 --------------- 461
200
0
2016
2017
2018
2019
2020
Luxury Property Market - Port Royal to Bonita Beach Road Area (West of 41) Condominiums $1M+ New Listings
800
2016 ---------------- 582 2017 ---------------- 565 2018 ---------------- 658 2019 ---------------- 619 2020 --------------- 765
700 600 500 400
Closed Units 2016 ---------------- 288 2017 ---------------- 328 2018 ----------------- 439 2019 ---------------- 363 2020 --------------- 490
300 200
0
2016
2017
2018
2019
2020
* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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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Average Sales Price 12 Month Comparisons Luxury Property Market - Port Royal to Bonita Beach Road Area (West of 41) Single Family Properties ($1M+) $4,500,000
$4,000,000
$3.929M
$3,500,000
$3,000,000
$3.235M
$3.367M
$3.362M
2017
2018
$3.434M
$2,500,000
$2,000,000
$1,500,000 0 2016
2019
2020
Luxury Property Market - Port Royal to Bonita Beach Road Area (West of 41) Condominiums ($1M+) $2,500,000
$2,000,000
$1.941M
$1.984M
$1.932M
2016
2017
2018
$2.116M
$2.085M
$1,500,000
$1,000,000
$500,000
0
2019
2020
* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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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Neighborhood Snapshot Report Single Family Properties
Monthly Snapshot as of October 31, 2020
ACTIVE LISTINGS
% CHANGE
CLOSED PAST % MONTHS OF 12 MONTHS CHANGE SUPPLY
% CHANGE
AVERAGE CLOSED PRICE
% CHANGE
Aqualane Shores
17
-35%
33
+83.3%
11.0
-11%
$4,948,335
+9%
Bonita Bay
25
-27%
58
-13%
6.3
-10%
$1,309,466
+27%
2
-86%
13
no change
6.3
-38%
$1,465,136
+2%
Grey Oaks
25
-51%
63
+66%
9.8
-35%
$2,736,875
+18%
Isles of Collier Preserve
16
-20%
51
+28%
5.7
-19%
$1,070,598
+15%
Kensington
4
-67%
16
no change
4.3
-33%
$788,088
-15%
Lely Resort
60
-31%
128
+26%
10.2
-12%
$690,966
+12%
Mediterra
34
-47%
45
+15%
11.6
-25%
$2,091,215
-8%
Monterey
7
-36%
22
-4%
4.4
-29%
$819,409
+5%
Naples Park
38
-39%
178
+16%
5.2
-34%
$484,286
+12%
Naples Reserve
24
-55%
118
+39%
6.5
-25%
$540,139
+4%
Olde Naples
35
-48%
84
+8%
9.4
-37%
$3,848,179
-5%
Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront
57
-28%
127
+21%
9.2
-23%
$2,058,400
-1%
Park Shore/Moorings/ Seagate/Coquina Sands Waterfront
11
-52%
37
+12%
7.2
-30%
$3,637,615
+5%
Pelican Bay
32
-37%
61
+33%
9.4
-14%
$2,943,246
+17%
Pelican Landing
15
-61%
48
-21%
7.9
-14%
$759,729
-7%
Pelican Marsh
21
-32%
56
+40%
7.0
-31%
$1,060,243
+14%
Pine Ridge
22
-45%
46
+59%
12.3
+18%
$ 2,279,597
+33%
Port Royal
29
-33%
36
-12%
14.2
-10%
$8,705,417
-9%
Quail Creek
9
-40%
22
-4%
5.8
-28%
$1,191,864
+6%
Quail West
16
-69%
67
+26%
9.8
-25%
$2,103,128
+16%
Royal Harbor
18
-44%
49
+104%
10.9
-8%
$2,580,755
+21%
The Colony At Pelican Landing
12
-20%
9
+29%
-8%
$1,619,889
+1%
Tiburon
8
-60%
17
+113%
4.9
+23%
$1,855,824
+44%
Vanderbilt Beach
15
-48%
41
+37%
10
-26%
$2,035,203
+11%
Vineyards
6
-85%
71
+9.2%
6.5
-29%
$676,398
+1%
Collier’s Reserve
12.6
* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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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Neighborhood Snapshot Report Condominiums
Monthly Snapshot as of October 31, 2020
ACTIVE LISTINGS
% CHANGE
CLOSED PAST % 12 MONTHS CHANGE
MONTHS OF % AVERAGE SUPPLY CHANGE CLOSED PRICE
% CHANGE
Bonita Bay
68
-9%
139
-5%
8.3
-1%
$783,958
-2%
Grey Oaks
5
no change
4
-50%
2.8
-47
$884,488
-3%
Isles of Collier Preserve
7
-67%
39
+30%
6.4
-26%
$522,934
+6%
Kensington
15
+7%
14
-13%
12.1
+142%
$442,921
-5%
Lely Resort
66
-43%
170
-10%
6.5
-39%
$315,181
Mediterra
12
-40%
15
+25%
12.7
+27%
$552,856
-5%
Olde Naples
61
-31%
118
+6%
8.7
-24%
$902,757
-14%
Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront
43
-20%
96
+68%
9.2
+18%
$418,390
+1%
Park Shore/Moorings/ Seagate/Coquina Sands Waterfront
173
-16%
309
no change
9.4
-1%
$1,397,924
+9%
Pelican Bay
137
-32%
287
+15%
8.5
-8%
$1,151,027
-23%
Pelican Landing
28
-28%
91
+14%
5.8
-28%
$347,001
+8%
Pelican Marsh
24
-53%
81
-10%
6.7
-27%
$398,140
+8%
1
-89%
21
+50%
4.0
-47%
$217,190
+1%
The Dunes of Naples
23
-30%
25
-31%
11
-35%
$1,087,217
-8%
Tiburon
21
+11%
38
-3%
6.9
+11%
$782,563
+7%
Vanderbilt Beach
53
-32%
96
+7%
10.5
-17%
$1,041,282
+28%
Vineyards
28
-61%
133
+10%
5.7
-39%
$367,648
+4%
Pine Ridge
no change
* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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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For more information on single family homes and condominiums in Grey Oaks, please contact Grey Oaks Real Estate.
Grey Oaks Real Estate
Jeanne Lesch Onsite Sales 203.858.4429 jeanne.lesch@raveis.com
Office Hours Monday - Friday 9AM-5PM Saturday 10AM-5PM Sunday 12PM-5PM 2400 Grey Oaks Drive North Naples, FL 34105 239.276.7103 realestate.greyoakscc.com