William Raveis June 2020 Market Report

JUNE 2020 LUXURY PROPERTIES MARKET REPORT Naples | Bonita Springs

NAPLES AND BONITA SPRINGS – SINGLE FAMILY PROPERTIES CLOSED SALES •

The number of closed sales in the 12 months ending June 30, 2020 for the Naples and Bonita Springs Area increased 5% year-over-year (6,726 vs 6,400).

•

There were 57 closed sales, priced above two million, in June 2020 compared to 35 in June 2019, a 63% increase. During the 12 months ending June 30, 2020, sales in this category increase 9% over the same time period in 2019 (383 vs 351).

NEW LISTINGS / INVENTORY •

During the 12 months ending June 30, 2020, a total of 9,802 new listings were added to the market, this is a 6% decrease vs the same time period 12 months ending June 30, 2019.

•

Available inventory as of June 30, 2020 consisted of 4,265 units, a decrease of 9% vs the same time period in 2019. 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 $682,691, 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 June 2020 increased 6% to $397,000 vs June 2019.

NAPLES AND BONITA SPRINGS – CONDOMINIUMS CLOSED SALES •

The number of closed sales in the 12 months ending June 30, 2020 for the Naples and Bonita Springs Area decreased 4% year-over-year (4,964 vs 5,194).

•

There were 8 closed sales priced above two million compared to 20 in June 2019, a 60% decrease.

During the 12 months ending June 30, 2020, sales in this category decreased 20% vs the same time period in 2019 (118 vs 148 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending June 30, 2020, a total of 7,614 new listings were added to the market, a 7% decrease vs the same time period 12 months ending June 30, 2019.

•

Available inventory as of June 30, 2020 consisted of 3,470 units, a decrease of 6% 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 $432,783, 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 June 2020 increased 2% to $264,000 vs June 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.

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 June 30, 2020 for the luxury market from Port Royal to Bonita Beach Road Area decreased 4% year-over-year (348 vs 360).

NEW LISTINGS / INVENTORY •

During the 12 months ending June 30, 2020, a total of 652 new listings were added to the market, remaining relatively the same with an increase of 1% compared to the same time period 12 months ending June 30, 2019.

•

Available inventory as of June 30, 2020 consisted of 407 units, an increase of 3% vs the same time period in 2019. Current inventory represents 9 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $3,661,924, which decreased 2% vs the same time period in 2019.

•

The median sales price for the area in June 2020 remained the same at $3,250,000 vs June 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 June 30, 2020 for the luxury market from Port Royal to Bonita Beach Road Area decreased 7% year-over-year (327 vs 352).

NEW LISTINGS / INVENTORY •

During the 12 months ending June 30, 2020, a total of 642 new listings were added to the market, an increase of 3% vs the same time period 12 months ending June 30, 2019.

•

Available inventory as of June 30, 2020 consisted of 367 units, an 8% 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 $2,116,537, remaining relatvely the same with an increase of less than 1% vs the same time period in 2019.

•

The median sales price for the area in June 2020 decreased 17% to $1,600,000 vs June 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.

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

New Listings

10,000

2016 ---------------- 10,188 2017 ---------------- 10,127 2018 ---------------- 9,589 2019 ---------------- 10,404 2020 --------------- 9,802

8,000

6,000

Closed Units

4,000

2016 ---------------- 5,958 2017 ---------------- 6,227 2018 ----------------- 6,052 2019 ---------------- 6,400 2020 --------------- 6,726

2,000

0 2016

2017

2018

2019

2020

Naples and Bonita Springs - Condominiums 10,000

New Listings 2016 ----------------- 8,047 2017 ----------------- 8,083 2018 ----------------- 8,022 2019 ----------------- 8,207 2020 ----------------- 7,614

8,000

6,000

Closed Units

4,000

2016 ----------------- 5,031 2017 ----------------- 5,043 2018 ----------------- 4,939 2019 ----------------- 5,194 2020 ----------------- 4,964

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.

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

$665K

$697K

$687K

2018

2019

$682K

$634K

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

2016

$500,000

2017

2020

Naples and Bonita Springs - Condominiums

$400,000

$389K

$412K

$435K

$433K

$432K

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.

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 ---------------- 671 2017 ---------------- 657 2018 ---------------- 606 2019 ---------------- 644 2020 --------------- 652

600 500 400

Closed Units

300

2016 ---------------- 341 2017 ---------------- 305 2018 ----------------- 349 2019 ---------------- 360 2020 --------------- 347

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 ---------------- 576 2017 ---------------- 550 2018 ---------------- 636 2019 ---------------- 626 2020 --------------- 642

500

400

300

Closed Units

200

2016 ---------------- 281 2017 ---------------- 328 2018 ----------------- 432 2019 ---------------- 352 2020 --------------- 327

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.

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

$3.744M

$3,500,000

$3,000,000

$3.287M

$3.287M

$3.378M

2016

2017

2018

$3.665M

$2,500,000

$2,000,000

$1,500,000 0 2019

2020

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

$2,000,000

$2.012M

$1.976M

$1.910M

2017

2018

$2.097M

$2.116M

2019

2020

$1,500,000

$1,000,000

$500,000

0

2016

* 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.

Neighborhood Snapshot Report Single Family Properties

Monthly Snapshot as of June 30, 2020

ACTIVE LISTINGS

% CHANGE

CLOSED PAST % MONTHS OF 12 MONTHS CHANGE SUPPLY

% CHANGE

AVERAGE CLOSED PRICE

% CHANGE

Aqualane Shores

25

-7.4%

26

+18%

11.5

-9%

$5,051,692

+2.5%

Bonita Bay

31

-34%

56

-19%

5.9

-20%

$1,278,072

+23%

Collier’s Reserve

13

-19%

16

+33%

8.2

-7%

$1,503,431

+19%

Grey Oaks

47

-11%

52

+30%

12.4

-7%

$2,696,965

+16%

Isles of Collier Preserve

22

+10%

46

+28%

5.8

-28%

$983,532

+6%

Kensington

10

-23%

13

-13%

5.0

-24%

$826,646

-17%

Lely Resort

91

-13%

108

+20%

10.3

-13%

$673,485

+9%

Mediterra

56

-3%

37

-8%

12.8

-18%

$2,251,671

+5%

Monterey

11

-35%

20

-13%

4.8

-20%

$801,819

+8%

Naples Park

70

-29%

145

+9%

5.5

+34%

$452,409

+9%

Naples Reserve

54

0%

89

+7%

7.4

-25%

$520,719

-3%

Olde Naples

65

-28%

69

-6%

10.6

-37%

$4,012,051

-4%

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

86

-11%

96

-5%

9.4

-18%

$2,010,070

-3%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

23

-18%

32

+7%

7.9

-19%

$3,618,617

+6%

Pelican Bay

43

-2%

49

+4%

10.2

+6%

$2,782,276

+9%

Pelican Landing

35

-13%

42

-229%

7.5

-29%

$735,300

-9%

Pelican Marsh

34

0%

57

+73%

8.1

-15.6%

$1,035,004

+16%

Pine Ridge

39

+15%

33

-8%

13

+23%

$2,167,013

+36%

Port Royal

47

-11%

27

-31%

14.5

-10%

$10,263,519

+20%

Quail Creek

14

-36%

22

-21%

6.2

-35%

$999,950

-12%

Quail West

51

-26%

50

-19%

11.8

-12%

$1,955,978

+4%

Royal Harbor

31

+3%

28

+8%

11.2

+4%

$2,310,214

+10%

The Colony At Pelican Landing

13

0%

7

+17%

-2%

$1,398,429

-32%

Tiburon

8

-11%

12

+200%

4.2

-13%

$1,674,583

+36%

Vanderbilt Beach

32

0%

33

+22%

11.3

-8%

$1,895,949

+5%

Vineyards

39

-32%

57

-21%

7.1

-29%

$688,450

+5%

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.

Neighborhood Snapshot Report Condominiums

Monthly Snapshot as of June 30, 2020

ACTIVE LISTINGS

% CHANGE

CLOSED PAST % MONTHS OF 12 MONTHS CHANGE SUPPLY

% CHANGE

AVERAGE CLOSED PRICE

% CHANGE

Bonita Bay

84

-8%

114

-15%

8.0

-9%

$786,277

+2%

Grey Oaks

4

-56%

8

-47%

3.1

-45%

$830,750

-20%

Isles of Collier Preserve

21

+17%

35

+40%

7.6

-16%

$516,238

+4%

Kensington

14

-7%

9

-63%

9.1

+47%

$479,778

+9%

Lely Resort

110

-20%

171

+3%

7.2

-34%

$310,036

-1%

Mediterra

21

+75%

13

-7%

13.9

+111%

$567,910

+1%

Olde Naples

88

-15%

116

+7%

9.0

-21%

$900,740

-16%

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

53

+6%

68

-6%

9.5

+42%

$411,262

+4%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

217

-6.5%

243

-8%

8.7

0%

$1,387,274

+14%

Pelican Bay

190

-2%

256

-4%

8.9

+4%

$1,206,500

-14%

Pelican Landing

39

-15%

72

-7%

5.6

-39%

$345,709

+8%

Pelican Marsh

48

-23%

79

+4%

6.7

-28%

$370,304

-6%

Pine Ridge

7

-42%

15

+15%

4.3

-47%

$204,333

-10%

The Dunes of Naples

37

+6%

39

+15%

19

+111%

$1,072,513

-12%

Tiburon

21

-16%

36

-18%

6.4

-7%

$766,268

-8%

Vanderbilt Beach

88

-8%

88

-9%

11.1

-5%

$976,598

+12%

Vineyards

69

-36%

119

-6%

6.6

-37%

$345,884

-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.

Neighborhood Guide LOCATIONS:

HOME STYLE:

City of Naples North Naples (North of Pine Ridge Rd.) South Naples (South of Pine Ridge Rd.) Marco Area

GOLF COURSES |

18 holes

PRICE RANGE:

| Single Family Home

| Dominant price less than $500,000

| Condominium

| Dominant price $500,000 - $1,000,000 | Dominant price over $1,000,000

27 holes

36 holes

54 holes

90 holes

BOATING | Many properties are boating oriented (have a dock or there is a community dock/marina) GATED | May or may not be manned by a security guard

COMMUNITY

HOME STYLE

GOLF COURSE

BOATING COMMUNITY

CLUB HOUSE

TENNIS

GATED

PRICE RANGE

AQUALANE SHORES City of Naples

BONITA BAY Bonita Springs

COLLIER’S RESERVE North Naples

GREY OAKS

South Naples & City of Naples

ISLE OF COLLIER PRESERVE South Naples

KENSINGTON South Naples

LELY RESORT South Naples

MEDITERRA North Naples

MONTEREY North Naples

MOORINGS & COQUINA SANDS City of Naples

NAPLES PARK North Naples

NAPLES RESERVE South Naples

* 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.

Neighborhood Guide COMMUNITY

HOME STYLE

GOLF COURSE

BOATING COMMUNITY

CLUB HOUSE

TENNIS

GATED

PRICE RANGE

OLD NAPLES City of Naples

PARK SHORE City of Naples

PELICAN BAY North Naples

PELICAN LANDING Bonita Springs

PELICAN MARSH North Naples

PINE RIDGE North Naples

PORT ROYAL City of Naples

QUAIL CREEK North Naples

QUAIL WEST North Naples

ROYAL HARBOR City of Naples

THE COLONY AT PELICAN LANDING Bonita Springs

THE DUNES OF NAPLES North Naples

TIBURON GOLF CLUB North Naples

VANDERBILT BEACH AREA North Naples

VINEYARDS North Naples

* 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.

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