Grey Oaks Real Estate July 2020 Market Report

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JULY 2020 LUXURY PROPERTIES MARKET REPORT REAL ESTATE

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 July 31, 2020 for the Naples and Bonita Springs Area increased 7% year-over-year (6,981 vs 6,498).

•

There were 50 closed sales, priced above two million, in July 2020 compared to 33 in July 2019, a 52% increase. During the 12 months ending July 31, 2020, sales in this category increased 12% over the same time period in 2019 (401 vs 359).

NEW LISTINGS / INVENTORY •

During the 12 months ending July 31, 2020, a total of 9,920 new listings were added to the market, this is a 4% decrease vs the same time period 12 months ending July 31, 2019.

•

Available inventory as of July 31, 2020 consisted of 3,936 units, a decrease of 12% vs the same time period in 2019. Current inventory represents 4.8 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $684,647, remaining relatively the same with a decrease of less than 1% vs the same time period in 2019.

•

The median sales price for the area in July 2020 increased 11% to $420,500 vs July 2019.

NAPLES AND BONITA SPRINGS – CONDOMINIUMS CLOSED SALES •

The number of closed sales in the 12 months ending July 31, 2020 for the Naples and Bonita Springs Area decreased 3% year-over-year (5,051 vs 5,227).

•

There were 9 closed sales priced above two million compared to 8 in July 2019, a 13% increase.

During the 12 months ending July 31, 2020, sales in this category decreased 21% vs the same time period in 2019 (119 vs 151 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending July 31, 2020, a total of 7,795 new listings were added to the market, a 5% decrease vs the same time period 12 months ending July 31, 2019.

•

Available inventory as of July 31, 2020 consisted of 3,372 units, a decrease of 3% vs the same time period in 2019. Current inventory represents 6.9 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $432,934, remaining relatively the same with a decrease of less than 1% vs the same time period in 2019.

•

The median sales price for the area in July 2020 increased 12% to $257,000 vs July 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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REAL ESTATE

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 July 31, 2020 for the luxury market from Port Royal to Bonita Beach Road Area remained the same year-over-year (370 vs 370).

NEW LISTINGS / INVENTORY •

During the 12 months ending July 31, 2020, a total of 653 new listings were added to the market, remaining relatively the same with an increase of less than 1% compared to the same time period 12 months ending July 31, 2019.

•

Available inventory as of July 31, 2020 consisted of 363 units, a decrease of less than 1% vs the same time period in 2019. Current inventory represents 6.4 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $3,610,607, which decreased 4% vs the same time period in 2019.

•

The median sales price for the area in July 2020 increased 8% to $2,800,000 vs July 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 July 31, 2020 for the luxury market from Port Royal to Bonita Beach Road Area decreased 7% year-over-year (335 vs 362).

NEW LISTINGS / INVENTORY •

During the 12 months ending July 31, 2020, a total of 665 new listings were added to the market, an increase of 5% vs the same time period 12 months ending July 31, 2019.

•

Available inventory as of July 31, 2020 consisted of 369 units, an 18% increase vs the same time period in 2019. Current inventory represents 12 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $2,047,473, decreasing 3% vs the same time period in 2019.

•

The median sales price for the area in July 2020 increased 11% to $1,657,500 vs July 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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REAL ESTATE

New Listings | Closed Units 12 Month Comparisons Naples and Bonita Springs - Single Family Properties 12,000

New Listings

10,000

2016 ---------------- 10,078 2017 ---------------- 10,153 2018 ---------------- 9,664 2019 ---------------- 10,322 2020 --------------- 9,920

8,000

6,000

Closed Units

4,000

2016 ---------------- 5,878 2017 ---------------- 6,300 2018 ----------------- 6,040 2019 ---------------- 6,498 2020 --------------- 6,981

2,000

0 2016

2017

2018

2019

2020

Naples and Bonita Springs - Condominiums 10,000

New Listings 2016 ----------------- 8,055 2017 ----------------- 8,077 2018 ----------------- 8,027 2019 ----------------- 8,221 2020 ----------------- 7,795

8,000

6,000

Closed Units

4,000

2016 ----------------- 4,969 2017 ----------------- 5,030 2018 ----------------- 4,990 2019 ----------------- 5,227 2020 ----------------- 5,051

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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REAL ESTATE

Average Sales Price 12 Month Comparisons Naples and Bonita Springs - Single Family Properties $800,000 $700,000 $600,000

$663K

$701K

$689K

2018

2019

$685K

$630K

$500,000 $400,000 $300,000 $200,000

2016

2017

2020

Naples and Bonita Springs - Condominiums $500,000

$400,000

$393K

$412K

$435K

$436K

$433K

2018

2019

2020

$300,000

$200,000

$100,000

0

2016

2017

* 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

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 ---------------- 678 2017 ---------------- 651 2018 ---------------- 608 2019 ---------------- 649 2020 --------------- 653

600 500 400

Closed Units

300

2016 ---------------- 323 2017 ---------------- 305 2018 ----------------- 352 2019 ---------------- 370 2020 --------------- 370

200

0

700

2016

2017

2018

2019

2020

Luxury Property Market - Port Royal to Bonita Beach Road Area (West of 41) Condominiums $1M+ New Listings

600

2016 ---------------- 562 2017 ---------------- 556 2018 ---------------- 639 2019 ---------------- 631 2020 --------------- 665

500

400

300

Closed Units

200

2016 ---------------- 287 2017 ---------------- 329 2018 ----------------- 426 2019 ---------------- 362 2020 --------------- 335

100

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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REAL ESTATE

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

$3.775M $3.323M

$3.256M

$3.611M

$3.355M

$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

$1.983M

$1.975M

$1.952M

2016

2017

2018

$2.109M

$2.047M

$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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REAL ESTATE

Neighborhood Snapshot Report Single Family Properties

Monthly Snapshot as of July 31, 2020

ACTIVE LISTINGS

% CHANGE

CLOSED PAST % MONTHS OF 12 MONTHS CHANGE SUPPLY

% CHANGE

AVERAGE CLOSED PRICE

% CHANGE

Aqualane Shores

20

+11%

27

+23%

11.5

-8%

$5,100,262

+4%

Bonita Bay

21

-34%

55

-17%

5.9

-20%

$1,288,765

+24%

Collier’s Reserve

9

-40%

15

+25%

7.7

-17%

$1,486,993

+11%

Grey Oaks

29

-37%

52

+30%

11.9

+13%

$2,706,580

+23%

Isles of Collier Preserve

22

-16%

47

+27%

5.8

-26%

$984,080

+6%

Kensington

3

-70%

15

+7%

4.8

-27%

$804,627

-19%

Lely Resort

83

+3.8%

105

+9%

10.4

-12%

$667,056

+7%

Mediterra

42

-22%

38

-10%

12.6

-19%

$2,143,980

+2%

Monterey

7

-61%

19

-21%

4.7

-23%

$812,678

+14%

Naples Park

37

-54%

155

+13%

5.3

-36%

$452,592

+7%

Naples Reserve

31

-26%

99

+11%

7.2

-23%

$532,038

+2%

Olde Naples

44

-40%

74

+6%

10.2

-39%

$3,915,088

-7%

Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront

76

-13%

104

-3%

9.5

-17%

$2,011,582

-5%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

17

-37%

31

-3%

7.7

-21%

$3,488,411

-5%

Pelican Bay

27

-23%

53

+10%

10.1

+2%

$2,816,670

+13%

Pelican Landing

25

-22%

40

-31%

7.7

-25%

$732,778

-9%

Pelican Marsh

26

-24%

59

+79%

7.7

-22%

$1,061,197

+16%

Pine Ridge

29

-15%

36

0%

12.9

+25%

$2,144,546

+32%

Port Royal

40

-15%

31

-23%

14.5

-11%

$9,367,581

+6%

Quail Creek

11

-27%

20

-20%

6.2

-32%

$1,009,550

-10%

Quail West

32

-37%

57

-10%

11.2

-15%

$1,891,875

-2%

Royal Harbor

25

-14%

30

+11%

11.2

+1%

$2,542,067

+18%

The Colony At Pelican Landing

11

+10%

6

0%

-3%

$1,475,667

-16%

Tiburon

9

+125%

11

+120%

4.6

+2%

$1,731,364

+45%

Vanderbilt Beach

18

-46%

35

+25%

11.1

-12%

$1,904,324

+7%

Vineyards

19

-47%

61

-8%

7.1

-27%

$668,935

-1%

12.8

* 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.

MANAGED BY

REAL ESTATE

Neighborhood Snapshot Report Condominiums

Monthly Snapshot as of July 31, 2020

ACTIVE LISTINGS

% CHANGE

CLOSED PAST % MONTHS OF 12 MONTHS CHANGE SUPPLY

% CHANGE

AVERAGE CLOSED PRICE $793,988

% CHANGE

Bonita Bay

69

-12%

120

-9%

8.1

-7%

+1%

Grey Oaks

5

-38%

7

-56%

2.9

-47%

$811,571

-22%

Isles of Collier Preserve

8

-53%

36

+29%

7.4

-17%

$519,777

+5%

Kensington

13

+63%

10

-58%

10.2

+86%

$473,800

+7%

Lely Resort

73

-45%

174

+2%

7

-36%

$306,618

-2%

Mediterra

22

+22%

12

-8%

13.8

+89%

$561,069

-1%

Olde Naples

71

-1%

120

+12%

8.9

-23%

$930,682

-12%

Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront

50

+14%

9

+125%

8.2

-1%

$327,222

-13%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

208

+13%

279

-4%

9

-7%

$1,348,384

+6%

Pelican Bay

133

-29%

246

-9%

8.7

-1%

$1,132,494

-21%

Pelican Landing

31

+15%

78

-3%

5.7

-35%

$339,935

+6%

Pelican Marsh

34

-35%

79

+4%

6.6

-31%

$377,390

-3%

Pine Ridge

3

-57%

17

+31%

4.3

-46%

$208,412

+6%

The Dunes of Naples

29

+20%

39

-15%

18

-6%

$1,121,512

-6%

Tiburon

19

-5%

35

-19%

6.6

0%

$786,669

-2%

Vanderbilt Beach

74

-27%

88

-6%

10.9

-9.2%

$967,047

+9%

Vineyards

46

-38%

118

-4%

6.4

-37%

$345,811

-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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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 Associate 203.858.4429 jeanne.lesch@raveis.com

Office Hours Monday - Friday 9AM-5PM Saturday 10AM-5PM Sunday 12PM-5PM 2394 Grey Oaks Drive North Naples, FL 34105 239.276.7103 realestate.greyoakscc.com