Naples Luxury Market Report January 2020

MANAGED BY

JANUARY 2020 LUXURY PROPERTIES MARKET REPORT REAL ESTATE

Naples / Bonita Springs / Estero

MANAGED BY

REAL ESTATE

MANAGED BY

REAL ESTATE

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

The number of closed sales in the 12 months ending January 31, 2020 for the Naples, Bonita Springs and Estero Area increased 8% year-over-year (7,663 vs 7,097).

•

There were 41 closed sales, priced above two million, in January 2020 compared to 30 in January 2019 a 37% increase. During the 12 months ending January 31, 2020, sales in this category decreased 2% over the same time period in 2019 (406 vs 414).

NEW LISTINGS / INVENTORY •

During the 12 months ending January 31, 2020, a total of 11,258 new listings were added to the market, this is a 4% decrease vs the same time period 12 months ending January 31, 2019.

•

Available inventory as of January 31, 2020 consisted of 5,292 units, a decrease of 11% vs the same time period in 2019. 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 $660,307, a decrease of 3% vs the same time period in 2019.

•

The median sales price for the area increased 10% to $420,000 vs 2019.

NAPLES, BONITA SPRINGS AND ESTERO – CONDOMINIUMS CLOSED SALES •

The number of closed sales in the 12 months ending January 31, 2020 for the Naples, Bonita Springs and Estero Area increased 6% year-over-year (6,095 vs 5,772).

•

There were 16 closed sales priced above two million compared to 12 in January 31, 2019, a 33% increase. During the 12 months ending January 31, 2020, sales in this category increased 3% vs the same time period in 2019 (152 vs 147 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending January 31, 2020, a total of 8,539 new listings were added to the market, a 9% decrease vs the same time period 12 months ending January 31, 2019.

•

Available inventory as of January 31, 2020 consisted of 4,120 units, a decrease of 17% vs the same time period in 2019. Current inventory represents 10 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $411,607, remaining relatively the same with an increase of 1% vs the same time period in 2019.

•

The median sales price for the area increased 9% to $260,000 vs 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.

MANAGED BY

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 January 31, 2020 for the luxury market from Port Royal to Bonita Beach Road Area increased 4% year-over-year (387 vs 373).

NEW LISTINGS / INVENTORY •

During the 12 months ending January 31, 2020, a total of 620 new listings were added to the market, this is a 2% decrease compared to the same time period 12 months ending January 31, 2019.

•

Available inventory as of January 31, 2020 consisted of 422 units, a decrease of 12% 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 $3,605,503, which decreased 3% vs the same time period in 2019.

•

The median sales price for the area increased 6% to $3,187,500 vs 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 January 31, 2020 for the luxury market from Port Royal to Bonita Beach Road Area increased 8% year-over-year (395 vs 366).

NEW LISTINGS / INVENTORY •

During the 12 months ending January 31, 2020, a total of 640 new listings were added to the market, remaining relatively the same with a decrease of 1% vs the same time period 12 months ending January 31, 2019.

•

Available inventory as of January 31, 2020 consisted of 408 units, a 6% increase vs the same time period in 2019. Current inventory represents 11 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $1,966,163, 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 decreased 24% to $1,475,000 vs 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.

MANAGED BY

REAL ESTATE

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

New Listings

10,000

2016 ---------------- 10,834 2017 ---------------- 11,697 2018 ---------------- 10,759 2019 ---------------- 11,726 2020 ---------------- 11,268

8,000

6,000

Closed Units

4,000

2016 ---------------- 7,136 2017 ---------------- 6,641 2018 ----------------- 6,800 2019 ---------------- 7,097 2020 --------------- 7,665

2,000

0 2016

2017

2018

2019

2020

Naples, Bonita Springs and Estero - Condominiums 10,000

New Listings 2016 ----------------- 8,228 2017 ----------------- 9,202 2018 ----------------- 8,762 2019 ----------------- 9,348 2020 ----------------- 8,689

8,000

6,000

Closed Units

4,000

2016 ----------------- 6,260 2017 ----------------- 5,275 2018 ----------------- 5,549 2019 ----------------- 5,772 2020 ----------------- 6,096

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.

MANAGED BY

REAL ESTATE

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

$680K $631K

$599K

$629K

$660K

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

2016

$500,000

2017

2018

2019

2020

Naples, Bonita Springs and Estero - Condominiums

$400,000

$412K $377K

$407K

$412K

$382K

$300,000

$200,000

$100,000

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.

MANAGED BY

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 2016 -----------------2017 -----------------2018 -----------------2019 -----------------2020 ------------------

700 600

622 705 627 666 620

500 400

Closed Units 300

2016 ------------------ 349 2017 ------------------ 291 2018 ------------------ 337 2019 ------------------ 373 2020 ------------------ 387

200

0

700

2016

2017

2018

2019

2020

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

600

New Listings

500

2016 ------------------ 507 2017 ------------------ 581 2018 ------------------ 626 2019 ------------------ 649 2020 ------------------ 640

400

300

Closed Units 2016 ------------------ 338 2017 ------------------ 296 2018 ------------------ 431 2019 ------------------ 366 2020 ------------------ 395

200

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.

MANAGED BY

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

$3.707M

$3,500,000

$3.605M

$3,000,000

$3.033M

$3.169M

$3.043M

2017

2018

$2,500,000

$2,000,000

$1,500,000 0 2016

2019

2020

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

$2,000,000

$2.013M

$1.943M

$1.874M

$1.966M

$1.966M

2019

2020

$1,500,000

$1,000,000

$500,000

0

2016

2017

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.

MANAGED BY

REAL ESTATE

Neighborhood Snapshot Report Naples, Bonita Springs and Estero Market Area

Single Family Properties Monthly Snapshot as of January 31, 2020

ACTIVE LISTINGS

CLOSED PAST 12 MONTHS

MONTHS OF SUPPLY

AVERAGE CLOSED PRICE

Aqualane Shores

24 | -14.3%

17 | +26.1%

11.6 | -4.9%

Audubon

34 | +13.3%

21 | -22.2%

17.1 | +30.5%

$1,304,063 | +24.0%

20 | 0.0%

16 | 0.0%

7.8 | -39.5%

$3,500,000 | -13.3%

Bonita Bay

35 | -23.9%

66 | -14.3%

6 | -21.1%

$1,034,045 | -12.2%

The Brooks

6 | 0.0%

14 | +75%

4.6 | +31.4%

$467,273 | -1.9%

Colliers Reserve

16 | +6.7%

16 | -15.8%

9.9 | +16.5%

$1,439,994 | +27.8%

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

93 | +2.2%

124 | +22.8%

10.9 | +12.4%

$2,080,874 | +.6%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

28 | +3.7%

36 | 0.0%

10.2 | +24.4%

$3,539,674 | +2.5%

Crossings

6 | -25.0%

12 | -25.0%

3.1 | -26.2%

$841,500 | +28.4%

Grey Oaks

53 | +15.2%

41 | -21.2%

15.2 | +60.0%

$2,780,748 | +17.2%

Kensington

12 | -7.7%

18 | 0.0%

5.9 | -4.8%

$834,417 | -18.0% $621,662 | -5.2%

Barefoot Beach

$4,846,105 | +4.9%

Lely Resort

92 | -12.4%

106 | -3.6%

11.0 | 0.0%

Mediterra

61 | +13.0%

49 | +63.3%

14.2 | -16.0%

$2,338,014 | +0.4%

Monterey

14 | -30.0%

23 | -32.4%

5.8 | -15.9%

$807,277 | +2.7%

Olde Naples

73 | -23.2%

78 | +23.8%

12.3 | -30.1

$4,009,531 | +5.4%

Palmira Golf & Country Club

27 | -10.0%

43 | +16.2%

8.8 | -2.2%

$562,779 | -3.0%

Pelican Bay

47 | +30.6%

50 | 0.0%

11.0 | +41.0%

Pelican Landing

38 | 0.0%

60 | +39.5%

8.1 | -27.7%

Pelican Landing (The Colony)

13 | +8.3%

7 | +40.0%

13.3 | +11.8%

Pelican Marsh

36 | +2.9%

51 | +37.8%

9.8 | -1.0%

$1,059,123 | -17.2%

Pelican Sound

1 | -50.0%

6 | -40.0%

0.6 | -53.8%

$683,333 | +12.5%

Pine Ridge

37 | +5.7%

32 | -8.6%

12.0 | +6.2%

$1,886,858 | +2.9%

Port Royal

50 | -3.8%

33 | -23.3%

15.0 | -9.6%

$9,209,432 | -10.9%

Quail Creek

16 | -36.0%

21 | -19.2%

6.9 | -38.9%

$1,090,043 | -0.4%

Quail West

59 | -13.2%

51 | -20.3%

12.5 | -11.3%

$1,816,246 | -12.7%

33 | +43.5%

31 | +34.8%

12.0 | +51.9%

$2,157,065 | +5.3%

8 | -11.1%

11 | +175.0%

3.7 | -44.8%

$1,259,909 | -33.6%

Vanderbilt Beach

33 | +17.9%

32 | +18.5%

12.9 | +30.3%

$1,876,625 | +14.8%

Vineyards

45 | -26.2%

69 | 0.0%

7.9 | -37.3%

$654,343 | +3.3%

21 | 0.0%

15 | -28.6%

10.5 | +59.1%

$1,137,976 | -8.2%

Royal Harbor Tiburon

West Bay Club

$2,879,291 | +22.3% $787,389 | +1.0% $1,742,000 | +30.9%

* 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 Naples, Bonita Springs and Estero Market Area

Condominiums Monthly Snapshot as of January 31, 2020

ACTIVE LISTINGS

CLOSED PAST 12 MONTHS

MONTHS OF SUPPLY

AVERAGE CLOSED PRICE

Barefoot Beach

6 | -14.3%

21 | +40.0%

3.2 | -30.4%

$1,611,714 | +11.3%

Bonita Bay

87 | -2.2%

124 | -7.5%

8.0 | -13.0%

$762,736 | +2.3%

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

50 | -13.8%

76 | -13.6%

8.3 | -5.7%

$401,357 | -7.4%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

224 | +1.4%

310 | +6.5%

9.1 | -3.2%

$1,294,822 | +7.9%

The Dunes

34 | +3.0%

44 | +22.2%

10.5 | +4.0%

$1,149,466 | +4.4%

Grey Oaks

6 | -45.5%

13 | 0.0%

4.4 | -33.3%

$858,000 | -20.9%

Kensington

13 | -40.9%

15 | -44.4%

5.9 | -49.6%

$451,933 | +2.6%

Lely Resort

129 | -4.4%

194 | +33.8%

9.3 | -13.9%

$316,168 | +4.8%

Mediterra

16 | +14.3%

16 | -33.3%

11.5 | +91.7%

$572,052 | -2.2%

Monterey

1 | -50.0%

2 | -33.3%

0.7 | -46.2%

$311,000 | -5.0%

Olde Naples

95 | -5.0%

120 | +9.1%

10.6 | +1.0%

$987,029 | +2.3%

16 | 0.0%

20 | -4.8%

8.1 | +24.6%

$313,152 | -3.5%

Palmira Golf & Country Club Pelican Bay

202 | +8.6%

257 | -4.8%

9.3 | +10.7%

$1,409,371 | +23.7%

Pelican Landing

40 | -14.9%

92 | +61.4%

6.6 | -29.8%

$331,135 | -1.6%

Pelican Marsh

58 | +1.8%

89 | +6.0%

8.5 | -2.3%

$358,743 | -5.8%

Pelican Sound

12 | -63.6%

64 | +12.3%

2.2 | -63.9%

$290,144 | -8.8%

Pine Ridge

6.4 | -16.9%

$219,837 | +19.6%

10 | -23.1%

17 | +13.3%

Tiburon

21 | -32.3%

40 | -16.7%

5.7 | -46.7%

$784,129 | +1.3%

Vanderbilt Beach

98 | +16.7%

99 | +3.1%

12.5 | +23.8%

$838,093 | -9.4%

Vineyards

85 | -25.4%

131 | -2.2%

8.1 | -32.5%

$350,073 | -6.2%

10 | +11.1%

24 | -14.3%

4.8 | +60.0%

$509,875 | -7.0%

West Bay Club

* 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 MANAGED BY BY RREEA ALL EESSTTA ATTEE

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