William Raveis December 2019 Market Report

DECEMBER 2019 LUXURY PROPERTIES MARKET REPORT Naples / Bonita Springs / Estero

NAPLES, BONITA SPRINGS AND ESTERO – SINGLE FAMILY PROPERTIES CLOSED SALES •

The number of closed sales in the 12 months ending December 31, 2019 for the Naples, Bonita Springs and Estero Area was relatively unchanged year-over-year (7,596 vs 7,074).

•

There were 37 closed sales, priced above two million, in December 2019 compared to 22 in December 2018 a 68% increase. During the 12 months ending December 31, 2019, sales in this category decreased 3% over the same time period in 2018 (409 vs 396).

NEW LISTINGS / INVENTORY •

During the 12 months ending December 31, 2019, a total of 11,307 new listings were added to the market, this is a 4% decrease vs the same time period 12 months ending December 31, 2018.

•

Available inventory as of December 31, 2019 consisted of 4,700 units, a decrease of 11% vs the same time period in 2018. Current inventory represents 7 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $660,112 which remained relatively the same with a decrease of 2% vs the same time period in 2018.

•

The median sales price for the area decreased less than 2% to $386,940 from $391,317 in 2018.

NAPLES, BONITA SPRINGS AND ESTERO – CONDOMINIUMS CLOSED SALES •

The number of closed sales in the 12 months ending December 31, 2019 for the Naples, Bonita Springs and Estero Area was relatively unchanged year-over-year (5,991 vs 5,926).

•

There were 8 closed sales priced above two million in December 31, 2019, 27% fewer than December 2018. During the 12 months ending December 31, 2019, sales in this category were relatively unchanged vs the same time period in 2018 (152 vs 147 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending December 31, 2019, a total of 8,689 new listings were added to the market, a 7% decrease vs the same time period 12 months ending December 31, 2018.

•

Available inventory as of December 31, 2019 consisted of 3,694 units, a decrease of 14% vs the same time period in 2018. Current inventory represents 7 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $405,000, a decrease of 4% vs the same time period in 2018.

•

The median sales price for the area increased 3% to $256,500 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.

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 December 31, 2019 for the luxury market from Port Royal to Bonita Beach Road Area increased 5% year-over-year (371 vs 352).

NEW LISTINGS / INVENTORY •

During the 12 months ending December 31, 2019, a total of 624 new listings were added to the market, this is less than 2% fewer listings than the same time period 12 months ending December 31, 2018.

•

Available inventory as of December 31, 2019 consisted of 373 units, a decrease of 10% vs the same time period in 2018. 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 $3,600,000, which increased 5% vs the same time period in 2018.

•

The median sales price for the area was relatively unchanged at $2,666,792 vs $2,652,813 in 2018.

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 December 31, 2019 for the luxury market from Port Royal to Bonita Beach Road Area decreased 14% year-over-year (379 vs 442).

NEW LISTINGS / INVENTORY •

During the 12 months ending December 31, 2019, a total of 622 new listings were added to the market, a decrease of 2% vs the same time period 12 months ending December 31, 2018.

•

Available inventory as of December 31, 2019 consisted of 376 units, a 3% increase vs the same time period in 2018. Current inventory represents 13 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $1,916,369, a decrease of less than 2% vs the same time period in 2018.

•

The median sales price for the area decreased 5% to $1,544,792 from $1,626,625.

* 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.

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

New Listings

10,000

2015 ---------------- 10,834 2016 ---------------- 11,629 2017 ---------------- 10,715 2018 ---------------- 11,749 2019 ---------------- 11,307

8,000

6,000

Closed Units

4,000

2015 ---------------- 7,136 2016 ---------------- 6,607 2017 ---------------- 6,833 2018 ---------------- 7,074 2019 ---------------- 7,596

2,000

0 2015

2016

2017

2018

2019

Naples, Bonita Springs and Estero - Condominiums 10,000

New Listings 2015 ----------------- 8,228 2016 ----------------- 9,202 2017 ----------------- 8,762 2018 ----------------- 9,348 2019 ----------------- 8,689

8,000

6,000

Closed Units

4,000

2015 ----------------- 6,260 2016 ----------------- 5,276 2017 ----------------- 5,425 2018 ----------------- 5,926 2019 ----------------- 5,991

2,000

0 2015

2016

2017

2018

2019

* 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.

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

$671K $631K

$610K

$629K

2015

2016

2017

$660K

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

$500,000

2018

2019

Naples, Bonita Springs and Estero - Condominiums

$400,000

$423K $377K

$384K

$393K

$405K

$300,000

$200,000

$100,000

0

2015

2016

2017

2018

2019

* 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.

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 2015 -----------------2016 -----------------2017 -----------------2018 -----------------2019 ------------------

700 600

622 699 599 631 624

500 400

Closed Units 300

2015 ------------------ 349 2016 ------------------ 284 2017 ------------------ 332 2018 ------------------ 352 2019 ------------------ 371

200

0

700

2015

2016

2017

2018

2019

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

600

New Listings

500

2015 ------------------ 507 2016 ------------------ 598 2017 ------------------ 593 2018 ------------------ 635 2019 ------------------ 622

400

300

Closed Units 2015 ------------------ 338 2016 ------------------ 298 2017 ------------------ 348 2018 ------------------ 442 2019 ------------------ 379

200

100

2015

2016

2017

2018

2019

* 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.

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

$3.600M

$3,000,000

$3.033M

$3.421M

$3.174M

$3.103M

2016

2017

$2,500,000

$2,000,000

$1,500,000 0 2015

2018

2019

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

$2,000,000

$2.013M

$1.953M

$1.870M

$1.952M

$1.916M

2018

2019

$1,500,000

$1,000,000

$500,000

0

2015

2016

2017

* 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.

Neighborhood Snapshot Report Naples, Bonita Springs and Estero Market Area

Single Family Homes ACTIVE LISTINGS

CLOSED PAST 12 MONTHS

MONTHS OF SUPPLY

22

17

11

$4,921,399

Audubon

34

22

17

$940,000

Barefoot Beach

20

17

8

$4,790,412

Bonita Bay

38

68

6

$847,500

The Brooks

7

14

5

$467,273

Colliers Reserve

16

17

10

$1,315,000

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

96

114

11

$2,091,257

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

29

34

10

$3,275,000

Crossings

6

12

3

$841,500

Grey Oaks

54

42

15

$2,150,000

Kensington

12

18

6

$831,361

Lely Resort

93

111

11

$530,000

Mediterra

62

45

15

$2,420,838

Monterey

15

23

6

$775,000

Olde Naples

77

78

13

$4,017,672

Palmira Golf & Country Club

28

46

9

$470,000

Pelican Bay

47

47

11

$2,581,405

Pelican Landing

38

61

9

$700,000

Pelican Landing (The Colony)

14

7

13

$1,742,000

Pelican Marsh

36

48

10

$862,500

Pelican Sound

1

5

1

$684,000

Pine Ridge

36

27

11

$1,275,000

Port Royal

51

38

15

$9,312,401

Monthly Snapshot as of December 31, 2019 Aqualane Shores

AVERAGE CLOSED PRICE

Quail Creek

17

22

7

$1,109,950

Quail West

61

52

13

$1,804,876

Royal Harbor

33

28

12

$1,925,000

8

10

4

$1,270,000

Vanderbilt Beach

34

32

14

$1,300,000

Vineyards

48

69

8

$663,604

West Bay Club

21

14

10

$955,000

Tiburon

* 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.

Neighborhood Snapshot Report Naples, Bonita Springs and Estero Market Area

CONDOMINIUMS ACTIVE LISTINGS

CLOSED PAST 12 MONTHS

MONTHS OF SUPPLY

6

20

3

$1,579,800

Bonita Bay

88

124

8

$432,500

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

50

69

8

$395,270

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

226

304

9

$949,500

The Dunes

35

41

11

$1,159,646

Grey Oaks

7

13

5

$889,923

Monthly Snapshot as of December 31, 2019 Barefoot Beach

AVERAGE CLOSED PRICE

Kensington

12

15

5

$465,267

Lely Resort

133

193

10

$314,891

Mediterra

16

15

11

$585,856

Monterey

1

2

1

$311,000

Olde Naples

99

117

11

$1,054,679

Palmira Golf & Country Club

16

19

8

$313,054

202

247

9

$890,000

Pelican Landing

41

90

7

$323,283

Pelican Marsh

59

90

9

$368,607

Pelican Sound

14

66

3

$289,534

Pine Ridge

10

17

7

$218,837

Tiburon

22

43

6

$759,306

Pelican Bay

Vanderbilt Beach

98

97

13

$841,714

Vineyards

90

131

9

$358,525

West Bay Club

10

21

5

$516,762

* 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.

Connecticut l Florida l Maine l Massachusetts l New Hampshire l New Jersey l New York l Rhode Island l Vermont