William Raveis November 2019 Market Report Naples Area

NOVEMBER 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 November 30, 2019 for the Naples, Bonita Springs and Estero Area was relatively unchanged year-over-year (7,395 vs 7,402).

•

There were 25 closed sales, priced above two million, in November 2019 compared to 22 in November 2018 a 13% increase. During the 12 months ending November 30, 2019, sales in this category decreased 7% over the same time period in 2018 (379 vs 409).

NEW LISTINGS / INVENTORY •

During the 12 months ending November 30, 2019, a total of 11,335 new listings were added to the market, this is relatively unchanged vs the same time period 12 months ending November 30, 2018.

•

Available inventory as of November 30, 2019 consisted of 4,899 units, a decrease of 8% vs the same time period in 2018. 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 $653,840 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 $385,357 from $390,921 in 2018.

NAPLES, BONITA SPRINGS AND ESTERO – CONDOMINIUMS CLOSED SALES •

The number of closed sales in the 12 months ending November 30, 2019 for the Naples, Bonita Springs and Estero Area was unchanged year-over-year (5,872 vs 5,860).

•

There were 7 closed sales priced above two million in November 30, 2019, 30% fewer than November 2018. During the 12 months ending November 30, 2019, sales in this category were unchanged vs the same time period in 2018 (150 vs 149 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending November 30, 2019, a total of 8,725 new listings were added to the market, a 1% decrease vs the same time period 12 months ending November 30, 2018.

•

Available inventory as of November 30, 2019 consisted of 4,328 units, a decrease of 13% vs the same time period in 2018. 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 $407,000, a decrease of 4% vs the same time period in 2018.

•

The median sales price for the area remained relatively the same with a decrease of 1% to $245,209 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 November 30, 2019 for the luxury market from Port Royal to Bonita Beach Road Area decreased 7% year-over-year (361 vs 389).

NEW LISTINGS / INVENTORY •

During the 12 months ending November 30, 2019, a total of 631 new listings were added to the market, this is approximately 8% fewer listings than the same time period 12 months ending November 30, 2018.

•

Available inventory as of November 30, 2019 consisted of 378 units, a decrease of 7% vs the same time period in 2018. Current inventory represents 18 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $3,729,491, which increased 10% vs the same time period in 2018.

•

The median sales price for the area increased 6% to $2,695,792 from $2,546,354.

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 November 30, 2019 for the luxury market from Port Royal to Bonita Beach Road Area decreased 19% year-over-year (374 vs 461).

NEW LISTINGS / INVENTORY •

During the 12 months ending November 30, 2019, a total of 607 new listings were added to the market, a decrease of 4% vs the same time period 12 months ending November 30, 2018.

•

Available inventory as of November 30, 2019 consisted of 485 units, unchanged vs the same time period in 2018. Current inventory represents 20 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $1,806,449, a decrease of 3% vs the same time period in 2018.

•

The median sales price for the area decreased 7% to $1,439,917 from $1,550,639.

* 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 ---------------- 10,807 2016 ---------------- 11,606 2017 ---------------- 10,673 2018 ---------------- 11,802 2019 ---------------- 11,335

8,000

6,000 Closed Units

4,000

2015 ---------------- 7,160 2016 ---------------- 6,616 2017 ---------------- 6,878 2018 ---------------- 7,090 2019 ---------------- 7,402

2,000 0

2015

2016

2017

2018

2019

Naples, Bonita Springs and Estero - Condominiums 10,000

New Listings 2015 ----------------- 8,174 2016 ----------------- 9,133 2017 ----------------- 8,773 2018 ----------------- 9,384 2019 ----------------- 8,725

8,000

6,000

Closed Units

4,000

2015 ----------------- 6,360 2016 ----------------- 5,335 2017 ----------------- 5,424 2018 ----------------- 5,933 2019 ----------------- 5,872

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

$628K

$605K

$632K

$667K

$653K

2018

2019

$500,000 $400,000 $300,000 $200,000 2015

$500,000

2016

2017

Naples, Bonita Springs and Estero - Condominiums

$400,000

$422K $376K

$382K

$390K

$407K

$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

636 687 595 650 631

500 400 Closed Units

300

2015 ------------------ 358 2016 ------------------ 289 2017 ------------------ 331 2018 ------------------ 365 2019 ------------------ 361

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 ------------------ 481 2016 ------------------ 582 2017 ------------------ 560 2018 ------------------ 643 2019 ------------------ 607

400 300

Closed Units 2015 ------------------ 339 2016 ------------------ 298 2017 ------------------ 337 2018 ------------------ 456 2019 ------------------ 367

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 $3,000,000

$3.731M $3.232M

$3.145M

$3.208M

$3.385M

$2,500,000 $2,000,000 $1,500,000 0

2015

2016

2017

2018

2019

Luxury Property Market - Port Royal to Bonita Beach Road Area (West of 41) Condominiums ($1M+) $2,500,000 $2,000,000 $2.046M

$1.956M

$1.856M

$1.940M

$1.927M

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 12-Month Sold Comparison Report for Select Communities

Single Family Homes ACTIVE LISTINGS

CLOSED PAST 12 MONTHS

MONTHS OF SUPPLY

Aqualane Shores

22

16

11

$4,628,987

Audubon

33

23

16

$880,000

Barefoot Beach

21

19

9

$4,683,526

Bonita Bay

41

66

7

$817,500

The Brooks

7

15

5

$470,255

Colliers Reserve

16

14

10

$1,347,500

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

98

107

12

$1,900,000

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

29

33

10

$3,469,470

Crossings

6

12

3

$770,167

Grey Oaks

55

38

15

$2,090,000

Kensington

12

18

6

$904,194

Lely Resort

95

101

11

$613,441

Mediterra

62

39

15

$2,000,000

Monterey

15

22

6

$757,722

Olde Naples

80

75

14

$3,300,000

Palmira Golf & Country Club

28

45

9

$574,164

Pelican Bay

48

47

11

$1,600,000

Pelican Landing

39

56

9

$814,435

Pelican Landing (The Colony)

14

6

13

$1,410,000

Pelican Marsh

35

44

10

$965,915

Pelican Sound

1

5

1

$675,000

Pine Ridge

35

27

11

$1,814,980

Port Royal

50

37

15

$7,800,000

Monthly Snapshot as of November 30, 2019

AVERAGE CLOSED PRICE

Quail Creek

18

24

7

$1,166,269

Quail West

62

54

13

$1,637,500

Royal Harbor

32

27

12

$2,097,185

8

10

4

$1,262,000

35

29

14

$1,819,276

Vineyards

48

67

8

$674,353

West Bay Club

20

14

10

$915,000

Tiburon Vanderbilt Beach

* 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 12-Month Sold Comparison Report for Select Communities

CONDOMINIUMS ACTIVE LISTINGS

CLOSED PAST 12 MONTHS

MONTHS OF SUPPLY

6

20

3

$1,661,425

Bonita Bay

89

134

8

$417,500

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

50

61

8

$400,846

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

227

297

9

$950,000

The Dunes

34

37

11

$1,159,122

Grey Oaks

7

12

5

$885,000

Monthly Snapshot as of November 30, 2019 Barefoot Beach

AVERAGE CLOSED PRICE

Kensington

12

17

5

$469,941

Lely Resort

133

192

10

$287,435

Mediterra

15

13

10

$596,833

Monterey

1

2

1

$311,000

Olde Naples

96

109

11

$1,052,041

Palmira Golf & Country Club

16

20

8

$312,152

200

247

9

$1,334,490

Pelican Bay Pelican Landing

42

83

8

$323,825

Pelican Marsh

58

90

9

$367,546

Pelican Sound

16

67

3

$292,996

Pine Ridge

10

16

7

$224,827

Tiburon

22

40

6

$728,904

Vanderbilt Beach

99

91

13

$809,640

Vineyards

93

126

9

$346,167

West Bay Club

10

18

5

$592,611

* 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.

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