Grey Oaks Market Report Sept. 2020

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SEPTEMBER 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 September 30, 2020 for the Naples and Bonita Springs Area increased 14% year-over-year (7,558 vs 6,609).

•

There were 43 closed sales, priced above two million, in September 2020 compared to 15 in September 2019, a 187% increase. During the 12 months ending September 30, 2020, sales in this category increased 33% over the same time period in 2019 (465 vs 349).

NEW LISTINGS / INVENTORY •

During the 12 months ending September 30, 2020, a total of 10,278 new listings were added to the market, this is an increase of less than 1% vs the same time period 12 months ending September 30, 2019.

•

Available inventory as of September 30, 2020 consisted of 3,713 units, a decrease of 12% vs the same time period in 2019. Current inventory represents 5 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $712,888, a 4% increase vs the same time period in 2019.

•

The median sales price for the area in September 2020 increased 17% to $440,000 vs September 2019.

NAPLES AND BONITA SPRINGS – CONDOMINIUMS CLOSED SALES •

The number of closed sales in the 12 months ending September 30, 2020 for the Naples and Bonita Springs Area increased 3% year-over-year (5,375 vs 5,243).

•

There were 27 closed sales priced above two million compared to 6 in September 2019, a 350% increase. During the 12 months ending September 30, 2020, sales in this category increased 29% vs the same time period in 2019 (195 vs 151 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending September 30, 2020, a total of 8,128 new listings were added to the market, remaining relatively the same with a decrease of 1% vs the same time period 12 months ending September 30, 2019.

•

Available inventory as of September 30, 2020 consisted of 3,307 units, remaining relatively the same with an increase of 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 $470,461, an increase of 7% vs the same time period in 2019.

•

The median sales price for the area in September 2020 increased 17% to $275,000 vs September 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 September 30, 2020 for the luxury market from Port Royal to Bonita Beach Road Area increased 16% year-over-year (418 vs 360).

NEW LISTINGS / INVENTORY •

During the 12 months ending September 30, 2020, a total of 689 new listings were added to the market, an increase of 8% compared to the same time period 12 months ending September 30, 2019.

•

Available inventory as of September 30, 2020 consisted of 344 units, remaining relatively the same with a decrease of less than 1% vs the same time period in 2019 (344 vs 345). Current inventory represents 9.3 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $3,430,585, a decrease of 13% vs the same time period in 2019.

•

The median sales price for the area in September 2020 decreased 22% to $2,350,000 vs September 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 September 30, 2020 for the luxury market from Port Royal to Bonita Beach Road Area increased 24% year-over-year (454 vs 366).

NEW LISTINGS / INVENTORY •

During the 12 months ending September 30, 2020, a total of 766 new listings were added to the market, an increase of 26% vs the same time period 12 months ending September 30, 2019.

•

Available inventory as of September 30, 2020 consisted of 322 units, a 10% increase vs the same time period in 2019. Current inventory represents 6.2 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $2,085,924, a decrease of 2% vs the same time period in 2019.

•

The median sales price for the area in September 2020 increased 60% to $2,037,500 vs September 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 ---------------- 10,146 2017 ---------------- 9,656 2018 ---------------- 10,178 2019 ---------------- 10,258 2020 --------------- 10,278

8,000

6,000

Closed Units

4,000

2016 ---------------- 5,842 2017 ---------------- 6,136 2018 ----------------- 6,167 2019 ---------------- 6,609 2020 --------------- 7,558

2,000

0 2016

2017

2018

2019

2020

Naples and Bonita Springs - Condominiums 10,000

New Listings 2016 ----------------- 8,172 2017 ----------------- 7,795 2018 ----------------- 8,333 2019 ----------------- 8,196 2020 ----------------- 8,128

8,000

6,000

Closed Units

4,000

2016 ----------------- 4,877 2017 ----------------- 4,940 2018 ----------------- 5,136 2019 ----------------- 5,243 2020 ----------------- 5,375

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

$647K

$654K

2016

2017

$691K

$683K

2018

2019

$713K

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

2020

Naples and Bonita Springs - Condominiums $500,000

$470K $400,000

$394K

$438K

$439K

2018

2019

$413K

$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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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 ---------------- 682 2017 ---------------- 626 2018 ---------------- 633 2019 ---------------- 638 2020 --------------- 689

600 500 400

Closed Units

300

2016 ---------------- 310 2017 ---------------- 309 2018 ----------------- 355 2019 ---------------- 360 2020 --------------- 418

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 ---------------- 576 2017 ---------------- 573 2018 ---------------- 647 2019 ---------------- 606 2020 --------------- 766

700 600 500 400

Closed Units 2016 ---------------- 284 2017 ---------------- 323 2018 ----------------- 435 2019 ---------------- 366 2020 --------------- 454

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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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

$3.924M

$3,500,000

$3,000,000

$3.258M

$3.454M

$3.431M

$3.299M

$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

$2.006M

$2.009M

2016

2017

$1,500,000

$2.124M

$2.086M

2019

2020

$1.923M

$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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REAL ESTATE

Neighborhood Snapshot Report Single Family Properties

Monthly Snapshot as of September 30, 2020

ACTIVE LISTINGS

% CHANGE

CLOSED PAST % MONTHS OF 12 MONTHS CHANGE SUPPLY

% CHANGE

AVERAGE CLOSED PRICE

% CHANGE

Aqualane Shores

20

no change

29

+45%

11.5

-5%

$4,957,347

+9%

Bonita Bay

29

+7.4%

59

-15%

7

-29%

$1,318,035

+31%

5

-55%

13

no change

7.3

-25%

$1,565,146

+15%

Grey Oaks

26

-49%

54

+40%

10.6

-28%

$2,633,318

+14%

Isles of Collier Preserve

20

+18%

49

+26%

5.9

-18%

$1,047,687

+13%

Kensington

4

-56%

15

-6%

4.6

-28%

$800,960

-13%

Lely Resort

64

-7%

115

+15%

10.4

-11%

$690,608

+10%

Mediterra

42

-28%

45

+15%

12.2

-21%

$2,140,881

-3%

Monterey

7

-50%

20

-13%

4.4

-30%

$811,425

+10%

Naples Park

32

-52%

182

+26%

5.3

-35%

$476,404

+11%

Naples Reserve

28

-40%

109

+27%

6.9

-23%

$526,410

+1%

Olde Naples

42

-35%

79

+3%

9.7

-38%

$3,913,658

-2%

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

65

-22%

121

+18%

9.3

-21%

$1,982,362

-5%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

12

-43%

33

+7%

7.5

-26%

$3,755,780

+6%

Pelican Bay

28

-26%

57

+19%

9.8

-6%

$2,837,684

+16%

Pelican Landing

19

-42%

41

-33%

8

-16%

$746,302

-7%

Pelican Marsh

22

-27%

59

+51%

7.2

-28%

$1,048,536

+8%

Pine Ridge

20

-44%

42

+31%

12.8

+29%

$2,175,511

+32%

Port Royal

35

-15%

34

-13%

14.4

-10%

$8,566,029

-10%

Quail Creek

10

-38%

21

-19%

6

-27%

$1,109,571

-3%

Quail West

19

-62%

65

+25%

10.5

-20%

$2,042,721

+10%

Royal Harbor

13

-46%

43

+72%

11.5

-1%

$2,674,349

+27%

The Colony At Pelican Landing

10

-17%

8

+33%

-7%

$1,477,375

-15%

Tiburon

5

-38%

10

+43%

4.9

+20%

$1,715,500

+30%

Vanderbilt Beach

15

-46%

40

+54%

10.4

-22%

$1,949,083

+2%

Vineyards

15

-61%

37

-30%

6.8

-27%

$673,740

-4%

Collier’s Reserve

12.4

* 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 September 30, 2020

ACTIVE LISTINGS

% CHANGE

CLOSED PAST % 12 MONTHS CHANGE

MONTHS OF % AVERAGE SUPPLY CHANGE CLOSED PRICE

% CHANGE

Bonita Bay

65

-16%

130

no change

8.1

-5%

$791,961

-3%

Grey Oaks

5

-17%

7

-50%

2.8

-48%

$811,571

-10%

Isles of Collier Preserve

8

-60%

37

+23%

6.8

-24%

$518,485

+5%

Kensington

16

+78%

11

-45%

11.8

+146%

$451,182

-1%

Lely Resort

65

-47%

170

-3%

6.5

-40%

$305,456

-5%

Mediterra

16

-11%

11

-15%

13.4

+49%

$541,167

-7%

Olde Naples

59

-22%

118

+6%

8.9

-23%

$908,295

-17%

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

41

-9%

88

+47%

9.6

+32%

$418,380

+12%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

175

-1%

289

-4%

9.3

-3%

$1,425,631

+11%

Pelican Bay

140

-17%

274

+8%

8.7

-3%

$1,137,645

-23.5%

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

-33%

19

+36%

4.4

-42%

$212,421

-2%

The Dunes of Naples

22

+83%

41

+11%

8

+100%

$1,190,730

+10%

Tiburon

18

-14%

41

+11%

6.8

+10%

$765,595

-3%

Vanderbilt Beach

63

-24%

94

+7%

10.7

-14%

$971,974

+21%

Vineyards

31

-57%

122

+3%

6

-39%

$355,162

+1%

* 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