Grey Oaks Real Estate May 21 Market Report

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MAY 2021 LUXURY PROPERTIES MARKET REPORT EL A LE S ET SA T AT TEE RE ERA A R L E ST AT E

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 May 31, 2021 for the Naples and Bonita Springs Area increased 55% year-over-year (10,511 vs 6,782).

•

There were 118 closed sales, priced above two million in May 2021 compared to 17 in May 2020, a 594% increase. During the 12 months ending May 31, 2021, sales in this category increased 170% over the same time period in 2020 (975 vs 361 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending May 31, 2021, a total of 10,806 new listings were added to the market, this is an 11% increase vs the same time period 12 months ending May 31, 2020.

•

Available inventory as of May 31, 2021 consisted of 2,674 units, a decrease of 39% vs the same time period in 2020. Current inventory represents 2.9 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $904,944 representing an increase of 35% vs the same time period in 2020.

•

The median sales price for the area in May 2021 increased 51% to $574,250 vs May 2020.

NAPLES AND BONITA SPRINGS – CONDOMINIUMS CLOSED SALES •

The number of closed sales in the 12 months ending May 31, 2021 for the Naples and Bonita Springs Area increased 70% year-over-year (8,647 vs 5,086).

•

There were 46 closed sales priced above two million compared to 7 in May 2020, a 557% increase.

During the 12 months ending May 31, 2021, sales in this category increased 157% vs the same time period in 2020 (345 vs 134 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending May 31, 2021, a total of 8,895 new listings were added to the market, a 19% increase vs the same time period 12 months ending May 31, 2020.

•

Available inventory as of May 31, 2021 consisted of 1,801 units, a decrease of 48% vs the same time period in 2020. Current inventory represents 2 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $523,004 an increase of 20% vs the same time period in 2020.

•

The median sales price for the area in May 2021 increased 25% to $320,000 vs May 2020.

* The source of this market data is the Southwest Florida MLS, Copyright 2021. 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 May 31, 2021 for the luxury market from Port Royal to Bonita Beach Road Area increased 120% year-over-year (758 vs 345).

NEW LISTINGS / INVENTORY •

During the 12 months ending May 31, 2021, a total of 754 new listings were added to the market, an increase of 20% compared to the same time period 12 months ending May 31, 2020.

•

Available inventory as of May 31, 2021 consisted of 232 units a 45% decrease vs the same time period in 2020 (232 vs 419). Current inventory represents 3 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $4,112,285 an increase of 13% vs the same time period in 2020.

•

The median sales price for the area in May 2021 decreased 6% to $3,350,000 vs May 2020.

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 May 31, 2021 for the luxury market from Port Royal to Bonita Beach Road Area increased 145% year-over-year (834 vs 340).

NEW LISTINGS / INVENTORY •

During the 12 months ending May 31, 2021, a total of 874 new listings were added to the market, an increase of 42% vs the same time period 12 months ending May 31, 2020.

•

Available inventory as of May 31, 2021 consisted of 211 units, a 43% decrease vs the same time period in 2020. Current inventory represents 2.2 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $2,111,106, remaining relatively the same with a decrease of less than 1% vs the same time period in 2020.

•

The median sales price for the area in May 2021 increased 10% to $1,858,750 vs May 2020.

* The source of this market data is the Southwest Florida MLS, Copyright 2021. 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

2017 ---------------- 10,118 2018 ---------------- 9,597 2019 ---------------- 10,449 2020 --------------- 9,764 2021 ---------------- 10,806

8,000

6,000

Closed Units

4,000

2017 ---------------- 6,183 2018 ---------------- 6,073 2019 ----------------- 6,397 2020 --------------- 6,782 2021 ---------------- 10,511

2,000

0 2017

2018

2019

2020

2021

Naples and Bonita Springs - Condominiums 10,000

New Listings 2017 ----------------- 8,055 2018 ----------------- 8,018 2019 ----------------- 8,237 2020 ---------------- 7,463 2021 ------------------ 8,895

8,000

6,000

Closed Units

4,000

2017 ----------------- 4,992 2018 ----------------- 4,953 2019 ----------------- 5,271 2020 ---------------- 5,086 2021 ------------------ 8,647

2,000

0 2017

2018

2019

2020

2021

* The source of this market data is the Southwest Florida MLS, Copyright 2021. 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 $1,00,000

$800,000

$905K

$600,000

$635K

$681K

$695K

$671K

$400,000

$200,000

$0 2017

2018

2019

2020

2021

Naples and Bonita Springs - Condominiums $1,00,000

$800,000

$600,000

$523K

$400,000

$411K

$438K

$424K

2018

2019

$435K

$200,000

$0 2017

2020

2021

* The source of this market data is the Southwest Florida MLS, Copyright 2021. 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+ 900

New Listings

800

2017 ---------------- 654 2018 ---------------- 613 2019 ---------------- 647 2020 --------------- 627 2021 ---------------- 754

700 600 500

Closed Units

400

2017 ---------------- 311 2018 ---------------- 330 2019 ----------------- 362 2020 --------------- 345 2021 ---------------- 758

300 200 0

2017

2018

2019

2020

2021

Luxury Property Market - Port Royal to Bonita Beach Road Area (West of 41) Condominiums $1M+ 900

New Listings 2017 ---------------- 554 2018 ---------------- 636 2019 ---------------- 610 2020 --------------- 616 2021 ---------------- 874

800 700 600 500

Closed Units 2017 ---------------- 318 2018 ---------------- 439 2019 ----------------- 338 2020 --------------- 340 2021 ---------------- 834

400 300 200 0

2017

2018

2019

2020

2021

* The source of this market data is the Southwest Florida MLS, Copyright 2021. 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

$4.112M $3,500,000

$3,000,000

$3.755M

$3.637M

$3.313M $3.253M

$2,500,000

$2,000,000

$1,500,000 0 2017

2018

2019

2020

2021

Luxury Property Market - Port Royal to Bonita Beach Road Area (West of 41) Condominiums ($1M+) $2,500,000

$2,000,000

$2.004M $1,500,000

$1.907M

$2.059M

$2.126M

$2.111M

2020

2021

$1,000,000

$500,000

0

2017

2018

2019

* The source of this market data is the Southwest Florida MLS, Copyright 2021. 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 May 31, 2021

ACTIVE LISTINGS

% CHANGE

CLOSED PAST % MONTHS OF 12 MONTHS CHANGE SUPPLY

% CHANGE

AVERAGE CLOSED PRICE

% CHANGE

Aqualane Shores

7

-71%

57

+159%

6.3

-49%

$5,673,691

+7%

Bonita Bay

7

-72%

90

+58%

4.9

-17%

$1,656,015

+35%

Collier’s Reserve

0

-100%

22

+47%

2.7

-70%

$1,562,250

+6%

Grey Oaks

1

-98%

92

+100%

4.6

-66%

$2,268,750

+8%

Isles of Collier Preserve

2

-94%

76

+69%

3.6

-41%

$1,097,140

+16%

Kensington

1

-90%

20

+43%

2.7

-48%

$855,000

+26%

Lely Resort

11

-89%

220

+110%

6.1

-42%

$658,200

+21%

Mediterra

7

-85%

89

+134%

6.8

-48%

$1,866,000

+7%

Monterey

4

-64%

34

+55%

4.3

-17%

$838,750

+13%

Naples Park

13

-86%

261

+80%

3.2

-47%

$542,716

+20%

Naples Reserve

10

-83%

161

+77%

3.0

-60%

$590,155

+26%

Olde Naples

18

-71%

129

+102%

6.1

-44%

$3,811,000

+11%

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

30

-71%

39

+14%

1.9

-84%

$2,797,000

+83%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

3

-87%

39

+11%

4.4

-47%

$4,108,809

+12%

Pelican Bay

9

-80%

93

+82%

5.3

-49%

$3,734,468

+53%

Pelican Landing

4

-88%

87

+89%

5.5

-27%

$852,979

+12%

Pelican Marsh

7

-81%

87

+50%

4.5

-48%

$1,442,827

+44%

Pine Ridge

6

-84%

59

+62%

6.1

-54%

$2,540,544

+34%

Port Royal

7

-86%

75

+142%

8.3

-43%

$10,74,333

+11%

Quail Creek

4

-69%

29

-12%

4.4

-31%

$1,417,948

+37%

Quail West

6

-89%

102

+104%

4.6

-62%

$2,366,936

+21%

Royal Harbor

5

-84%

66

+144%

5.3

-56%

$2,839,843

+24%

The Colony At Pelican Landing

1

-92%

22

+214%

6.8

-47%

$1,582,273

-13%

Tiburon

2

-75%

19

+58%

3.0

-23%

$2,043,697

+22%

Vanderbilt Beach

5

-86%

60

+107%

4.7

-62%

$2,103,975

+20%

Vineyards

1

-98%

95

+64%

3.5

-53%

$770,361

+11%

* The source of this market data is the Southwest Florida MLS, Copyright 2021. 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 May 31, 2021

ACTIVE LISTINGS

% CHANGE

CLOSED PAST % 12 MONTHS CHANGE

MONTHS OF % AVERAGE SUPPLY CHANGE CLOSED PRICE

% CHANGE

Bonita Bay

16

-81%

192

+73%

5.8

-29%

$897,689

+16%

Grey Oaks

3

0%

15

+67%

2.9

-12%

$1,058,060

+32%

Isles of Collier Preserve

3

-87%

60

+88%

3.5

-55%

$536,861

+3%

Kensington

1

-94.4%

40

+344%

9.0

+34%

$464,418

-3.0%

Lely Resort

13

-88%

274

+54%

5.0

-35%

$319,431

+2%

Mediterra

2

-92%

32

+146%

7.0

-49%

$592,000

+4%

Olde Naples

37

-63%

196

+70%

7.2

-27%

$1,113,571

+17%

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

19

-69%

144

+106%

6.0

-36%

$539,535

+36%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

36

-84%

508

+92%

6.8

-22%

$1,539,199

+12%

Pelican Bay

38

-80%

473

+84%

5.9

-37%

$1,330,117

+4%

Pelican Landing

5

-87%

119

+70%

3.6

-36%

$354,004

+1%

Pelican Marsh

1

-98%

134

+70%

3.9

-47%

$433,867

+17%

The Dunes of Naples

5

-84%

67

+644%

6.5

no change

$1,194,109

+14%

Tiburon

0

-100%

61

+60%

5.6

-13%

$758,275

-3%

Vanderbilt Beach

16

-83%

170

+87%

7.2

-36%

$1,096,904

+19%

Vineyards

11

-83%

162

+31%

4.2

-38%

$388,842

+13%

* The source of this market data is the Southwest Florida MLS, Copyright 2021. 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

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 239.276.7103 jlesch@greyoakscc.com 2400 Grey Oaks Drive North | Naples | FL 34105 GreyOaksCC.com