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AUGUST 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 August 31, 2020 for the Naples and Bonita Springs Area increased 10% year-over-year (7,232 vs 6,548).
•
There were 49 closed sales, priced above two million, in August 2020 compared to 14 in August 2019, a 250% increase. During the 12 months ending August 31, 2020, sales in this category increased 21% over the same time period in 2019 (436 vs 359).
NEW LISTINGS / INVENTORY •
During the 12 months ending August 31, 2020, a total of 10,071 new listings were added to the market, this is a 2% decrease vs the same time period 12 months ending August 31, 2019.
•
Available inventory as of August 31, 2020 consisted of 3,724 units, a decrease of 10% vs the same time period in 2019. Current inventory represents 4.9 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE •
The year-over-year average sales price for the area was $695,740, remaining relatively the same with an increase of less than 1% vs the same time period in 2019.
•
The median sales price for the area in August 2020 increased 14% to $435,000 vs August 2019.
NAPLES AND BONITA SPRINGS – CONDOMINIUMS CLOSED SALES •
The number of closed sales in the 12 months ending August 31, 2020 for the Naples and Bonita Springs Area remained relatively the same with a decrease of less than 1% year-over-year (5,193 vs 5,220).
•
There were 59 closed sales priced above two million compared to 6 in August 2019, an 883% increase. During the 12 months ending August 31, 2020, sales in this category increased 15% vs the same time period in 2019 (173 vs 151 units).
NEW LISTINGS / INVENTORY •
During the 12 months ending August 31, 2020, a total of 8,002 new listings were added to the market, a 2% decrease vs the same time period 12 months ending August 31, 2019.
•
Available inventory as of August 31, 2020 consisted of 3,323 units, remaining relatively the same with an increase of 1% vs the same time period in 2019. Current inventory represents 6.5 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE •
The year-over-year average sales price for the area was $460,783, an increase of 5% vs the same time period in 2019.
•
The median sales price for the area in August 2020 increased 22% to $284,000 vs August 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 August 31, 2020 for the luxury market from Port Royal to Bonita Beach Road Area increased 9% year-over-year (396 vs 364).
NEW LISTINGS / INVENTORY •
During the 12 months ending August 31, 2020, a total of 674 new listings were added to the market, an increase of 5% compared to the same time period 12 months ending August 31, 2019.
•
Available inventory as of August 31, 2020 consisted of 345 units, remaining relatively the same with an increase of less than 1% vs the same time period in 2019 (345 vs 344). Current inventory represents 9.6 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE •
The year-over-year average sales price for the area was $3,465,347, a decrease of 12% vs the same time period in 2019.
•
The median sales price for the area in August 2020 increased 42% to $2,900,000 vs August 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 August 31, 2020 for the luxury market from Port Royal to Bonita Beach Road Area increased 13% year-over-year (416 vs 368).
NEW LISTINGS / INVENTORY •
During the 12 months ending August 31, 2020, a total of 741 new listings were added to the market, an increase of 20% vs the same time period 12 months ending August 31, 2019.
•
Available inventory as of August 31, 2020 consisted of 342 units, an 18% increase vs the same time period in 2019. Current inventory represents 3.3 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE •
The year-over-year average sales price for the area was $2,092,866, remaining relatively the same with a decrease of 1% vs the same time period in 2019.
•
The median sales price for the area in August 2020 increased 50% to $2,080,000 vs August 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 ---------------- 10,097 2017 ---------------- 10,143 2018 ---------------- 9,695 2019 ---------------- 10,263 2020 --------------- 10,071
8,000
6,000
Closed Units
4,000
2016 ---------------- 5,923 2017 ---------------- 6,309 2018 ----------------- 6,013 2019 ---------------- 6,548 2020 --------------- 7,232
2,000
0 2016
2017
2018
2019
2020
Naples and Bonita Springs - Condominiums 10,000
New Listings 2016 ----------------- 8,080 2017 ----------------- 8,121 2018 ----------------- 8,019 2019 ----------------- 8,185 2020 ----------------- 8,002
8,000
6,000
Closed Units
4,000
2016 ----------------- 4,914 2017 ----------------- 5,027 2018 ----------------- 5,047 2019 ----------------- 5,220 2020 ----------------- 5,193
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 $600,000
$657K
$643K
2016
2017
$691K
$691K
2018
2019
$696K
$500,000 $400,000 $300,000 $200,000
2020
Naples and Bonita Springs - Condominiums $500,000
$461K $400,000
$390K
$414K
$436K
$437K
2018
2019
$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 ---------------- 673 2017 ---------------- 650 2018 ---------------- 602 2019 ---------------- 645 2020 --------------- 674
600 500 400
Closed Units
300
2016 ---------------- 323 2017 ---------------- 306 2018 ----------------- 345 2019 ---------------- 364 2020 --------------- 396
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 ---------------- 564 2017 ---------------- 588 2018 ---------------- 632 2019 ---------------- 616 2020 --------------- 741
700 600 500 400
Closed Units 2016 ---------------- 280 2017 ---------------- 329 2018 ----------------- 429 2019 ---------------- 368 2020 --------------- 416
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
$3,500,000
$3,000,000
$3.919M $3.323M
$3.411M
$3.465M
$3.310M
$2,500,000
$2,000,000
$1,500,000 0 2016
2017
2018
2019
2020
Luxury Property Market - Port Royal to Bonita Beach Road Area (West of 41) Condominiums ($1M+) $2,500,000
$2,000,000
$2.011M
$1.985M
2016
2017
$1,500,000
$2.110M
$2.093M
2019
2020
$1.929M
$1,000,000
$500,000
0
2018
* 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 August 31, 2020
ACTIVE LISTINGS
% CHANGE
CLOSED PAST % MONTHS OF 12 MONTHS CHANGE SUPPLY
% CHANGE
AVERAGE CLOSED PRICE
% CHANGE
Aqualane Shores
17
-6%
28
+40%
11.3
-7%
$5,018,110
+4%
Bonita Bay
25
+4%
62
-5%
6.1
-16%
$1,286,017
+24%
6
-54%
15
+15%
7.3
-25%
$1,548,793
+20%
Grey Oaks
24
-50%
44
-18.5%
11.2
-21%
$2,681,715
+18%
Isles of Collier Preserve
21
+24%
48
+23%
5.9
-21%
$996,485
+6%
Kensington
3
-63%
17
+21%
4.7
-28%
$819,377
-11%
Lely Resort
71
-4%
107
+12%
10.4
-12%
$677,345
+8%
Mediterra
40
-27%
42
-2%
12.5
-19%
$2,121,135
-2%
Monterey
9
-50%
21
-9%
4.7
-27%
$833,851
+17%
Naples Park
34
-49%
166
+17%
5.3
-35%
$462,287
+8%
Naples Reserve
30
-32%
107
+26%
7.1
-22%
$526,538
+1%
Olde Naples
43
-37%
77
+9%
9.9
-39%
$3,955,896
-2%
Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront
69
-9%
113
+7%
9.5
-18%
$2,002,562
-6%
Park Shore/Moorings/ Seagate/Coquina Sands Waterfront
13
-44%
31
-6%
7.6
-23%
$3,716,637
+4%
Pelican Bay
27
-18%
55
+17%
9.9
+3%
$2,880,200
+17%
Pelican Landing
22
-24%
38
-39%
7.9
-20%
$749,563
-6%
Pelican Marsh
21
-34%
57
+63%
7.4
-27%
$1,063,151
+13%
Pine Ridge
28
-15%
35
-5%
12.9
+30%
$2,246,328
+35%
Port Royal
41
-13%
33
-18%
14.4
-11%
$8,401,364
-11%
Quail Creek
8
-47%
21
-19%
6.2
-29%
$1,081,714
-6%
Quail West
25
-51%
59
+11%
11
-16%
$1,937,405
+1%
Royal Harbor
19
-27%
34
+17%
11.5
+3%
$2,718,147
+30%
The Colony At Pelican Landing
10
-9%
7
no change
-5%
$1,509,857
-8%
Tiburon
4
-20%
9
+29%
4.6
+10%
$1,756,111
+33%
Vanderbilt Beach
18
-40%
40
+67%
10.9
-17%
$1,956,158
+2%
Vineyards
20
-43%
63
-7%
7
-26%
$659,735
-4%
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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REAL ESTATE
Neighborhood Snapshot Report Condominiums
Monthly Snapshot as of August 31, 2020
ACTIVE LISTINGS
% CHANGE
CLOSED PAST % 12 MONTHS CHANGE
MONTHS OF % AVERAGE SUPPLY CHANGE CLOSED PRICE $792,927
% CHANGE
Bonita Bay
66
-10%
124
-5%
8.1
-6%
-1%
Grey Oaks
7
-13%
7
-50%
2.9
-46%
$811,571
-10%
Isles of Collier Preserve
10
-50%
37
+28%
7.1
-21%
$520,733
+6%
Kensington
14
+75%
11
-52%
10.9
+118%
$469,818
+6%
Lely Resort
77
-39%
105
-25%
6.8
-37%
$307,353
-3%
Mediterra
21
+17%
12
no change
13.7
+67%
$538,153
-7%
Olde Naples
70
-15%
119
+11%
9
-22%
$922,032
-16%
Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront
43
+2%
78
+22%
9.6
+37%
$417,512
+8%
Park Shore/Moorings/ Seagate/Coquina Sands Waterfront
193
+6%
278
-6%
9.2
-5%
$1,399,751
+8%
Pelican Bay
129
-25%
257
-3%
8.7
-2%
$1,189,215
-17%
Pelican Landing
27
no change
80
+1%
5.8
-32%
$337,826
+6%
Pelican Marsh
31
-31%
80
+1%
6.5
-32%
$382,234
-1%
Pine Ridge
6
-14%
18
+39%
4.4
-43%
$213,278
-1%
The Dunes of Naples
28
-9%
43
+34%
6
-65%
$1,106,235
-9%
Tiburon
16
-16%
35
-17%
4.8
+5%
$782,669
-1%
Vanderbilt Beach
69
-19%
88
-8%
10.9
-11%
$984,189
11%
Vineyards
44
-43%
120
-2%
6.2
-38%
$355,298
-2%
* 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