MARCH 2020 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 March 31, 2020 for the Naples, Bonita Springs and Estero Area increased 13% year-over-year (7,959 vs 7,032).
•
There were 70 closed sales, priced above two million, in March 2020 compared to 40 in March 2019 a 75% increase. During the 12 months ending March 31, 2020, sales in this category increased 13% over the same time period in 2019 (444 vs 394).
NEW LISTINGS / INVENTORY •
During the 12 months ending March 31, 2020, a total of 11,164 new listings were added to the market, this is a 4% decrease vs the same time period 12 months ending March 31, 2019.
•
Available inventory as of March 31, 2020 consisted of 5,265 units, a decrease of 16% vs the same time period in 2019. Current inventory represents 6 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE •
The year-over-year average sales price for the area was $665,807, which remained 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 4% to $429,900 vs 2019.
NAPLES, BONITA SPRINGS AND ESTERO – CONDOMINIUMS CLOSED SALES •
The number of closed sales in the 12 months ending March 31, 2020 for the Naples, Bonita Springs and Estero Area increased 10% year-over-year (6,277 vs 5,703).
•
There were 31 closed sales priced above two million compared to 14 in March 31, 2019, a 121% increase. During the 12 months ending March 31, 2020, sales in this category increased 38% vs the same time period in 2019 (177 vs 128 units).
NEW LISTINGS / INVENTORY •
During the 12 months ending March 31, 2020, a total of 8,495 new listings were added to the market, a 7% decrease vs the same time period 12 months ending March 31, 2019.
•
Available inventory as of March 31, 2020 consisted of 4,132 units, a decrease of 20% vs the same time period in 2019. Current inventory represents 6 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE •
The year-over-year average sales price for the area was $422,322, an increase of 6% vs the same time period in 2019.
•
The median sales price for the area remained relatively the same with an increased of less than 1% to $265,500 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.
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 March 31, 2020 for the luxury market from Port Royal to Bonita Beach Road Area increased 20% year-over-year (420 vs 349).
NEW LISTINGS / INVENTORY •
During the 12 months ending March 31, 2020, a total of 631 new listings were added to the market, this is a 5% decrease compared to the same time period 12 months ending March 31, 2019.
•
Available inventory as of March 31, 2020 consisted of 445 units, a decrease of 15% vs the same time period in 2019. Current inventory represents 8 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE •
The year-over-year average sales price for the area was $3,526,515, which decreased 7% vs the same time period in 2019.
•
The median sales price for the area increased 5% to $3,000,000 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 March 31, 2020 for the luxury market from Port Royal to Bonita Beach Road Area increased 30% year-over-year (422 vs 335).
NEW LISTINGS / INVENTORY •
During the 12 months ending March 31, 2020, a total of 630 new listings were added to the market, an increase of 2% vs the same time period 12 months ending March 31, 2019.
•
Available inventory as of March 31, 2020 consisted of 390 units, a 17% decrease vs the same time period in 2019. Current inventory represents 6 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE •
The year-over-year average sales price for the area was $2,073,928, an increase of 5% vs the same time period in 2019.
•
The median sales price for the area increased 30% to $1,900,000 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.
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 ---------------- 11,545 2018 ---------------- 10,817 2019 ---------------- 11,634 2020 ---------------- 11,164
8,000
6,000
Closed Units
4,000
2016 ---------------- 7,136 2017 ---------------- 6,842 2018 ----------------- 6,769 2019 ---------------- 7,032 2020 --------------- 7,959
2,000
0 2016
2017
2018
2019
2020
Naples, Bonita Springs and Estero - Condominiums 10,000
New Listings 2016 ----------------- 8,228 2017 ----------------- 9,194 2018 ----------------- 8,868 2019 ----------------- 9,098 2020 ----------------- 8,475
8,000
6,000
Closed Units
4,000
2016 ----------------- 6,260 2017 ----------------- 5,461 2018 ----------------- 5,534 2019 ----------------- 5,703 2020 ----------------- 6,277
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, Bonita Springs and Estero - Single Family Properties $800,000 $700,000 $600,000
$644K
$631K
$605K
2016
2017
$671K
$666K
$500,000 $400,000 $300,000 $200,000
$500,000
2018
2019
2020
Naples, Bonita Springs and Estero - Condominiums
$400,000
$422K
$422K $377K
$400K
$385K
$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.
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
622 675 629 665 631
500 400
Closed Units 300
2016 ------------------ 349 2017 ------------------ 312 2018 ------------------ 347 2019 ------------------ 349 2020 ------------------ 420
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 ------------------ 594 2018 ------------------ 652 2019 ------------------ 619 2020 ------------------ 630
400
300
Closed Units 2016 ------------------ 338 2017 ------------------ 300 2018 ------------------ 473 2019 ------------------ 335 2020 ------------------ 422
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.
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
$3.786M
$3,500,000
$3.527M $3,000,000
$3.033M
$3.219M $3.042M
$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
$2.013M
$1.953M
$1.865M
2017
2018
$1.967M
$2.074M
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 Naples, Bonita Springs and Estero Market Area
Single Family Properties ACTIVE LISTINGS
Monthly Snapshot as of March 31, 2020
CLOSED PAST 12 MONTHS
MONTHS OF SUPPLY
AVERAGE CLOSED PRICE
Aqualane Shores
25 | -10.7%
17 | -32.0%
12.3 | -3.1%
$5,179,353 | +10.2%
Audubon
34 | +17.2%
22 | -12.0%
17.8 | +40.2%
$1,172,795 | +25.6%
Barefoot Beach
21 | 0.0%
16 | -11.1%
7.8 | -35.5%
$4,198,125 | -12.4%
Bonita Bay
34 | -29.2%
61 | -22.8%
5.9 | -23.4%
$1,189,651
| +8.8%
The Brooks
4
12 | +71.4%
3.0 | -38.8%
$465,568
| +0.3%
Colliers Reserve
15 | 0.0%
16 | -11.1%
9.6 | +26.3%
$1,439,994 | +21.4%
Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront
88 | -7.4%
127 | +39.6%
9.6 | -10.3%
$2,050,585 | -1.9%
Park Shore/Moorings/ Seagate/Coquina Sands Waterfront
26 | 0.0%
40 | +48.1%
9.2 | +12.2%
$3,466,456 | -2.1%
Crossings
6
9 | -50.0%
3.6 | -2.7%
$689,000
Grey Oaks
51 | +4.1%
49 | +14.0%
14.3 | +31.2%
$2,693,768 | +27.1%
Kensington
11
| -15.4%
17 | +13.3%
5.4 | -15.6%
$869,147
Lely Resort
89 | -16.0%
120 | +17.6%
10.5 | -7.1%
$648,045 | -1.1%
Mediterra
59 | +7.3%
46 | +12.2%
13.3 | -19.4%
$2,306,996 | +0.4%
Monterey
13 | -27.8%
24 | -22.6%
5.5 | -6.8%
$747,641
Olde Naples
69 | -26.6%
80 | +23.1%
11.1 | -39.0%
$4,046,949 | +6.6%
Palmira Golf & Country Club
24 | -17.2%
46 | +48.4%
7.5 | -14.8%
$562,891
Pelican Bay
44 | +10.0%
58 | +26.1%
10.3 | +15.7%
$2,682,906 | -1.2%
Pelican Landing
37 | -7.5%
57 | +14.0%
7.5 | -33.6%
$767,849
Pelican Landing (The Colony)
13 | 0.0%
8 | +33.3%
Pelican Marsh
37 | +8.8%
56 | +51.4%
9.6 | +4.3%
Pelican Sound
1
6 | -33.3%
0.9 | -18.2%
$710,833
Pine Ridge
38 | +11.8%
35 | +2.9%
12.5 | +15.7%
$1,956,199 | +11.8%
Port Royal
49 | -5.8%
37 | -5.1%
14.7 | -7.5%
$9,794,223 | -0.7%
Quail Creek
16 | -36.0%
29 | +20.8%
Quail West
55 | -20.3%
48 | -27.3%
12.1 | -11.7%
Royal Harbor
32 | +23.1%
32 | +39.1%
11.4 | +20.0%
$2,336,844 | +7.8%
Tiburon
8
14 | +600.0%
3.7 | -40.3%
$1,594,214 | -39.4%
Vanderbilt Beach
33 | +10.0%
37 | +68.2%
12.1 | +8.0%
$1,770,076 | -12.7%
Vineyards
41 | -32.8%
73 | +4.3%
7.1 | -39.3%
$684,579
| +8.3%
West Bay Club
22 | +4.8%
16 | -23.8%
11.4 | +54.1%
$1,135,978
| -8.3%
| -42.9%
| -25.0%
| 0.0%
| -11.1%
12.9 | 1.6%
7.0
| -35.8%
| -9.7% | -13.3%
| -8.8% | -0.6% | -2.4%
$1,798,625 | +26.8% $1,037,817 | -19.1%
$1,101,341
| +19.6%
| +0.3%
$1,932,937 | -1.1%
* 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.
Neighborhood Snapshot Report Naples, Bonita Springs and Estero Market Area
Condominiums Monthly Snapshot as of March 31, 2020 Barefoot Beach Bonita Bay
ACTIVE LISTINGS 6 | -14.3% 86 | -4.4%
CLOSED PAST 12 MONTHS
MONTHS OF SUPPLY
18 | +20.0%
3.0 | -37.5%
$1,746,528 | +23.5%
7.8 | -12.4%
$733,421 | -6.7%
133 | +6.4%
AVERAGE CLOSED PRICE
Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront
51 | -3.8%
72 | -24.2%
8.8 | +17.3%
$391,481 | +2.8%
Park Shore/Moorings/ Seagate/Coquina Sands Waterfront
216 | -6.1%
321 | +14.6%
8.6 | -11.3%
$1,386,671 | +12.7%
38 | -22.4%
48 | +65.5%
Grey Oaks
5 | -54.5%
14 | +16.7%
3.8 | -41.5%
$872,214 | -19.9%
Kensington
13 | -31.6%
11 | -64.5%
6.8 | -20.9%
$469,227 | +7.4%
202 | +32.9%
8.1 | -25.7%
$319,425 | +4.8%
15 | -16.7%
12.9 | +126.3%
$574,456 | +0.6%
The Dunes
Lely Resort
120 | -11.1%
Mediterra
19 | +46.2%
Monterey
1 | -50.0%
8 | -68%
$1,094,706 | -8.3%
2 | -50.0%
0.9 | -30.8%
$300,000 | -6.9%
Olde Naples
91 | -9.9%
134 | +35.4%
9.7 | -11.0%
$980,943 | -5.0%
Palmira Golf & Country Club
15 | -6.3%
28 | +64.7%
7.6 | +15.2%
$325,031 | +0.2%
9.2 | +9.5%
$1,383,394 | +16.4%
Pelican Bay
201 | +7.5%
286 | +8.3%
Pelican Landing
37 | -22.9%
92 | +64.3%
5.5 | -43.3%
Pelican Marsh
55 | -5.2%
85 | +4.9%
7.9 | -9.2%
$360,739 | -6.6%
1.5 | -74.1%
$288,776 | -8.1%
Pelican Sound
8 | -75.0%
Pine Ridge
8 | -33.3%
21 | +110.0%
5.0 | -38.3%
$216,820 | +11.4%
21 | -25.0%
40 | -20.0%
6.0 | -31.8%
$806,441 | +9.6%
Tiburon
66 | +6.5%
$335,414 | +0.9%
Vanderbilt Beach
93 | +3.3%
109 | +21.1%
11.6 | +4.5%
$887,918 | +2.5%
Vineyards
76 | -32.1%
138 | +10.4%
7.2 | -35.7%
$351,718 | -4.9%
10 | +11.1%
27 | -+3.8%
4.8 | +60.0%
$465,852 | -22.2%
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.
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