Grey Oaks Market Report October 2019

OCTOBER 2019 LUXURY PROPERTIES MARKET REPORT GREY OAKS

MANAGED BY

REAL ESTATE

MANAGED BY

REAL ESTATE

Welcome to the October issue of our Luxury Properties Market Report developed specifically for Grey Oaks. This monthly report provides Grey Oaks market data directly from the Southwest Florida MLS for both single family homes and condominiums.

We know there are many important factors to consider when selling or purchasing a home in Grey Oaks, the good news is we are uniquely equipped to assist you in developing the best strategies to be successful. The market goes through cycles and there are many variables to consider, understanding how to translate the data into opportunity is where we can help.

If you are considering selling or purchasing a home in any of our wonderful communities, you may find this information both informative and insightful. We would welcome the opportunity to speak with you about what today’s market conditions might mean to you and why choosing the right real estate partner is so important.

We’re on site seven days a week in our office at the Wellness Center, we would welcome the opportunity to meet you.

Grey Oaks Real Estate is managed by William Raveis Real Estate.

• The #1 family owned company in the Northeast and Florida with 130 offices and over 4,200 sales associates from New Jersey to Maine • The #1 luxury broker in The Leading Real Estate Companies of the World, the world’s top performing global network • 565 of the top performing independent brokerages servicing the Midwest, Southwest, Northeast, Southeast, and Western US and across the world • The only Christie’s International Real Estate affiliate in Collier County • The 9th largest real estate company in the US with over $11 Billion in residential sales annually

William Raveis has the highest average sale price of any broker in Naples.* We’re here to help our members get the best real estate services available.

*Highest average sale price based on brokers with more than 500 transactions.

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.

Grey Oaks Real Estate 2394 Grey Oaks Drive North, Naples, FL 34105 239.276.7103

MANAGED BY

REAL ESTATE

GREY OAKS – SINGLE FAMILY PROPERTIES CLOSED SALES •

The number of closed sales in the 12 months ending October 31, 2019 for the Grey Oaks Community decreased 32% year-over-year (37 vs 55).

•

There were no closed sales, priced up to two million, in October 2019 compared to 1 in October 2018. During the 12 months ending October 31, 2019, sales in this category decreased 29% over the same time period in 2018 (17 vs 24).

NEW LISTINGS / INVENTORY •

During the 12 months ending October 31, 2019, a total of 89 new listings were added to the market, this is 2% more listings than the same time period 12 months ending October 31, 2018.

•

Available inventory as of October 31, 2019 consisted of 56 units, an increase of 20% over the same time period in 2018. Current inventory represents 18 months of supply based on current absorption rates; indicating a buyer’s market.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price was $2,318,678 which decreased by 7% compared to the same time period in 2018.

•

The median sales price decreased 11% to $1,950,000 vs $2,200,000 in 2018.

GREY OAKS – CONDOMINIUMS CLOSED SALES •

The number of closed sales in the 12 months ending October 31, 2019 for the Grey Oaks Community decreased 19% year-over-year (13 vs 16).

•

There were no closed sales, priced above one million in October 2019. During the 12 months ending October 31, 2019, sales in this category increased 25% over the same time period in 2018 (5 vs 4 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending October 31, 2019, a total of 18 new listings were added to the market, this remained unchanged vs the same time period 12 months ending October 31, 2018.

•

Available inventory as of October 31, 2019 consisted of 7 units, a decrease of 36% vs the same time period in 2018. Current inventory represents 6 months of supply based on current absorption rate; indicating a balanced market.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price was $923,333, a decrease of 18% vs the same time period in 2018.

•

The median sales price increased 15% to $942,500 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.

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MANAGED BY

REAL ESTATE

New Listings | Closed Units 12-Month Comparisons Grey Oaks - Single Family Properties 100 90

92

87 75

80

89

87 73

70 60

47

50

55

54

37

40 30 20 10 0 Nov '14-Oct '15

Nov '15-Oct '16

Nov '16-Oct '17

New Listings

Nov '17-Oct '18

Nov '18-Oct '19

Closed Units

Grey Oaks - Condominiums 20 18 16

19

18 16

18

18 16

15 13

14

13

12 10 7

8 6 4 2 0

Nov '14-Oct '15

Nov '15-Oct '16

Nov '16-Oct '17

New Listings

Nov '17-Oct '18

Nov '18-Oct '19

Closed Units

* 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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MANAGED BY

REAL ESTATE

Average Sales Price 12-Month Comparisons

Grey Oaks - Single Family Properties $3,000,000 $2,500,000 $2,000,000

$2,778,132 $2,455,710

$519K

$2,421,052

$644K

$597K

$1,978,473

$681K

$640K

$2,075,965

$1,500,000 $1,000,000 $500,000 $0 $-

Nov '14-Oct '15

Nov '15-Oct '16

Nov '16-Oct '17

Nov '17-Oct '18

Nov '18-Oct '19

Grey Oaks - Condominiums $1,200,000

$1,117,694

$1,000,000

$928,870

$922,976

$841,626 $751,119

$800,000 $600,000 $400,000 $200,000 $0 $-

Nov '14-Oct '15

Nov '15-Oct '16

Nov '16-Oct '17

Nov '17-Oct '18

Nov '18-Oct '19

* 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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MANAGED BY

REAL ESTATE

New Listings | Closed Units 12-Month Comparisons Grey Oaks - Single Family Properties - up to $2M 45

40

40

37

35

36

34 29

30

30

28 24

23

25 20

17

15 10 5 0 Nov '14-Oct '15

Nov '15-Oct '16

Nov '16-Oct '17

New Listings

Nov '17-Oct '18

Nov '18-Oct '19

Closed Units

Grey Oaks - Condominiums - up to $2M 20 18 16

18 16

17 15

14

13

14

18

17

13

12 10 7

8 6 4 2 0 Nov '14-Oct '15

Nov '15-Oct '16

Nov '16-Oct '17

New Listings

Nov '17-Oct '18

Nov '18-Oct '19

Closed Units

* 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.

6

MANAGED BY

REAL ESTATE

Average Sales Price 12-Month Comparisons

Grey Oaks - Single Family Properties - up to $2M $1,460,000

$1,442,207

$1,440,000

$1,423,333

$1,420,000

$3.829M

$1,400,000 $1,380,000 $1,360,000

$3.344M

$3.144M

$3.005M

$3.024M

$1,371,800

$1,352,976 $1,338,068

$1,340,000 $1,320,000 $1,300,000 $1,280,000

Nov '14-Oct '15

Nov '15-Oct '16

Nov '16-Oct '17

Nov '17-Oct '18

Nov '18-Oct '19

Grey Oaks - Condominiums - up to $2M $950,000 $909,806 $900,000

$892,870

$892,150

Nov '15-Oct '16

Nov '16-Oct '17

$920,648

$850,000

$800,000

$779,729

$750,000

$700,000

Nov '14-Oct '15

Nov '17-Oct '18

Nov '18-Oct '19

* 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.

7

MANAGED BY

REAL ESTATE

New Listings | Closed Units 12-Month Comparisons Grey Oaks - Single Family Properties - $2M-$4M 45

41

40 35

30

30

29

27

24

25

40

21

20

17

16

15

15 10 5 0 Nov '14-Oct '15

Nov '15-Oct '16

Nov '16-Oct '17

New Listings

Nov '17-Oct '18

Nov '18-Oct '19

Closed Units

Average Sales Price 12-Month Comparisons

Grey Oaks - Single Family Properties - $2M-$4M $2,800,000 $2,723,959

$2,715,000

$2,700,000 $2,600,000 $2,500,000 $2,423,458

$2,402,167

$2,400,000

$2,419,236

$2,300,000 $2,200,000

Nov '14-Oct '15

Nov '15-Oct '16

Nov '16-Oct '17

Nov '17-Oct '18

Nov '18-Oct '19

* 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.

8

MANAGED BY

REAL ESTATE

New Listings | Closed Units 12-Month Comparisons Grey Oaks - Single Family Properties - $4M+ 30

26

25

22

20

19

18 14

15

14

10

10

8

5

5

2

0 Nov '14-Oct '15

Nov '15-Oct '16

Nov '16-Oct '17

New Listings

Nov '17-Oct '18

Nov '18-Oct '19

Closed Units

Average Sales Price 12-Month Comparisons

Grey Oaks - Single Family Properties - $4M+ $5,200,000

$5,150,000

$5,150,000

$5,086,000

$5,100,000 $5,050,000 $5,000,000

$5,015,000

$4,996,543

$4,950,000

$4,905,787

$4,900,000 $4,850,000 $4,800,000 $4,750,000

Nov '14-Oct '15

Nov '15-Oct '16

Nov '16-Oct '17

Nov '17-Oct '18

Nov '18-Oct '19

* 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.

9

MANAGED BY

REAL ESTATE

Neighborhood Snapshot Report

12-Month Sold Comparison Report for Select Grey Oaks Communities

Single Family Homes ACTIVE LISTINGS

CLOSED PAST 12 MONTHS

MONTHS OF SUPPLY

AVERAGE CLOSED PRICE

Avila

6

2

36

$842,500

Banyan Island

3

0

0

N/A

Monthly Snapshot as of October 31, 2019

Capistrano

1

1

12

$1,825,000

Isla Vista

2

2

12

$2,080,000

Isle Royale

2

2

12

$5,412,500

Isle Toscano

0

2

0

$3,749,500

0

N/A

L'ermitage

0

0

Majestic Isle

0

0

0

N/A

Miramonte

4

2

24

$2,375,000

Palm Island

0

0

0

N/A

San Tiva

0

3

0

$1,000,000

5

14

$2,617,500

Estates

6

The Mews

0

2

0

$1,300,000

Torino

7

3

28

$1,541,667

Traditions

1

5

2

$1,572,139

Venezia

1

0

0

N/A

Estuary At Grey Oaks Anhinga Pointe

1

2

6

$3,602,000

0

0

N/A

Great Egret Trail

0

Gordon River Trail

5

1

60

$6,750,000

Marsh Wren Lane

2

3

8

$2,395,833

Nighthawk Pointe

2

0

0

N/A

Noble Heron Way

2

0

0

N/A

Osprey Trail

0

0

0

N/A

Condominiums Monthly Snapshot as of October 31, 2019

ACTIVE LISTINGS

CLOSED PAST 12 MONTHS

MONTHS OF SUPPLY

AVERAGE CLOSED PRICE

Avila

1

3

4

$498,000

L'ermitage

0

0

0

N/A

Terra Verde

0

3

0

$875,000

Traditions

5

9

7

$906,875

* 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.

10

MANAGED BY

REAL ESTATE

For more information on single family homes and condominiums in Grey Oaks, please contact our sales team.

Grey Oaks Real Estate

Jeanne Lesch Onsite Sales Associate 203.858.4429 jeanne.lesch@raveis.com

Hillary Boss Onsite Sales Associate 802.598.9256 hillary.boss@raveis.com

Summer Office Hours Monday - Friday 9AM-5PM Saturday & Sunday 10AM-3PM

2394 Grey Oaks Drive North Naples, FL 34105 239.276.7103 realestate.greyoakscc.com

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