William Raveis October 2019 Market Report

OCTOBER 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 October 31, 2019 for the Naples, Bonita Springs and Estero Area increased 5% year-over-year (7,395 vs 7,015).

•

There were 23 closed sales, priced above two million, in October 2019 compared to 21 in October 2018 a 10% increase. During the 12 months ending October 31, 2019, sales in this category decreased 9% over the same time period in 2018 (374 vs 411).

NEW LISTINGS / INVENTORY •

During the 12 months ending October 31, 2019, a total of 11,411 new listings were added to the market, this is 3% fewer vs. the same time period 12 months ending October 31, 2018.

•

Available inventory as of October 31, 2019 consisted of 4,768 units, a decrease of 6% 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 $652,000 which remained relatively the same with a decrease of less than 2% vs. the same time period in 2018.

•

The median sales price for the area decreased 2% to $384,416 from $391,879 in 2018.

NAPLES, BONITA SPRINGS AND ESTERO – CONDOMINIUMS CLOSED SALES •

The number of closed sales in the 12 months ending October 31, 2019 for the Naples, Bonita Springs and Estero Area was flat year-over-year (5,860 vs 5,840).

•

There were 7 closed sales priced above two million in October 31, 2019, 36% fewer than October 2018. During the 12 months ending October 31, 2019, sales in this category increased 6% over the same time period in 2018 (153 vs 144 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending October 31, 2019, a total of 8,847 new listings were added to the market, a 6% decrease vs. the same time period 12 months ending October 31, 2018.

•

Available inventory as of October 31, 2019 consisted of 3,627 units, a decrease of 10% vs the same time period in 2018. 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 $410,000, a decrease of 2% vs the same time period in 2018.

•

The median sales price for the area remained relatively the same with a decrease of 2% to $243,740 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 AREA – SINGLE FAMILY PROPERTIES CLOSED SALES •

The number of closed sales in the 12 months ending October 31, 2019 for the luxury market from Port Royal to Bonita Beach Area increased 2% year-over-year (389 vs 381).

NEW LISTINGS / INVENTORY •

During the 12 months ending October 31, 2019, a total of 685 new listings were added to the market, this is approximately 1% fewer listings than the same time period 12 months ending October 31, 2018.

•

Available inventory as of October 31, 2019 consisted of 376 units, a decrease of 5% vs the same time period in 2018. Current inventory represents 15 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $3,942,000, which decreased 10% vs the same time period in 2018.

•

The median sales price for the area increased 11% to $2,744,666 from $2,474,375.

LUXURY MARKET $1M+ (WEST OF 41) PORT ROYAL TO BONITA BEACH AREA - CONDOMINIUMS CLOSED SALES •

The number of closed sales in the 12 months ending October 31, 2019 for the luxury market from Port Royal to Bonita Beach Area decreased 16% year-over-year (379 vs 451).

NEW LISTINGS / INVENTORY •

During the 12 months ending October 31, 2019, a total of 633 new listings were added to the market, a decrease of 6% vs the same time period 12 months ending October 31, 2018.

•

Available inventory as of October 31, 2019 consisted of 334 units, an increase of 3% vs the same time period in 2018. 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 $2,269,000, an increase of 19% vs the same time period in 2018.

•

The median sales price for the area decreased 3% to $1,571,354 from $1,618,500.

* 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 ---------------- 10,713 2016 ---------------- 11,561 2017 ---------------- 10,652 2018 ---------------- 11,752 2019 ---------------- 11,411

8,000

6,000 Closed Units

4,000

2015 ---------------- 7,235 2016 ---------------- 6,551 2017 ---------------- 6,915 2018 ---------------- 7,015 2019 ---------------- 7,395

2,000 0

2015

2016

2017

2018

2019

Naples, Bonita Springs and Estero - Condominiums 10,000

New Listings 2015 ----------------- 8,135 2016 ----------------- 9,017 2017 ----------------- 8,737 2018 ----------------- 9,368 2019 ----------------- 8,847

8,000

6,000

Closed Units

4,000

2015 ----------------- 6,336 2016 ----------------- 5,336 2017 ----------------- 5,501 2018 ----------------- 5,840 2019 ----------------- 5,860

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

$615K

$613K

2015

2016

$631K

$665K

$652K

2018

2019

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

$500,000

2017

Naples, Bonita Springs and Estero - Condominiums

$400,000 $372K

$383K

$395K

$417K

$410K

2018

2019

$300,000

$200,000

$100,000

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.

New Listings | Closed Units 12 Month Comparisons Luxury Property Market - Port Royal to Bonita Beach Area (West of 41) Single Family Properties $1M+ 800

New Listings 2015 -----------------2016 -----------------2017 -----------------2018 -----------------2019 ------------------

700 600

663 724 644 690 685

500 400 Closed Units

300

2015 ------------------ 373 2016 ------------------ 317 2017 ------------------ 346 2018 ------------------ 381 2019 ------------------ 389

200

0

700

2015

2016

2017

2018

2019

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

600

New Listings

500

2015 ------------------ 492 2016 ------------------ 599 2017 ------------------ 580 2018 ------------------ 6 7 2 2019 ------------------ 633

400 300

Closed Units 2015 ------------------ 342 2016 ------------------ 306 2017 ------------------ 343 2018 ------------------ 451 2019 ------------------ 379

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 Area (West of 41) Single Family Properties ($1M+) $4,500,000 $4,000,000

$4.374M $3.933M

$4.039M

$4.035M

2015

2016

2017

$3.942M

$3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 0

2018

2019

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

$2.219M

$2.316M

$2.200M

$2.263M

$2.269M

2017

2018

2019

$1,500,000

$1,000,000

$500,000

0

2015

2016

* 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

23

18

22

$4,409,464

Audubon

34

22

17

$1,039,708

Barefoot Beach

18

20

10

$5,060,785

Bonita Bay

41

76

7

$940,561

The Brooks

2

14

2

$479,133

Colliers Reserve

14

14

12

$1,454,600

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

92

107

11

$2,077,748

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

23

31

9

$3,474,201

Crossings

7

14

6

$720,750

Grey Oaks

56

37

18

$2,075,964

Kensington

13

16

10

$873,765

Lely Resort

105

117

11

$589,781

Mediterra

63

40

19

$2,237,119

Monterey

12

24

6

$773,668

Olde Naples

66

78

10

$4,003,961

Palmira Golf & Country Club

30

39

9

$557,556

Pelican Bay

58

53

13

$2,335,567

Pelican Landing

41

65

8

$830,361

Pelican Landing (The Colony)

13

8

20

$1,461,429

Pelican Marsh

35

40

10

$953,446

Pelican Sound

2

5

4

$571,900

Pine Ridge

41

29

17

$1,748,347

Port Royal

42

40

12

$9,773,064

Monthly Snapshot as of October 31, 2019

AVERAGE CLOSED PRICE

Quail Creek

15

23

7

$1,043,294

Quail West

53

53

12

$1,837,719

Royal Harbor

31

24

15

$2,103,074

Tiburon

10

7

5

$1,300,333

Vanderbilt Beach

28

32

11

$1,883,275

Vineyards

47

66

85

$662,754

West Bay Club

20

15

16

$1,209,438

* 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

8

18

8

$1,590,278

Bonita Bay

79

127

7

$862,980

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

54

53

12

$420,338

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

190

289

8

$1,375,101

The Dunes

32

36

11

$1,186,992

Grey Oaks

7

13

6

$920,648

Monthly Snapshot as of October 31, 2019 Barefoot Beach

AVERAGE CLOSED PRICE

Kensington

14

16

11

$476,416

Lely Resort

110

172

8

$307,350

Mediterra

19

11

18

$587,194

Monterey

1

1

1

$315,000

Olde Naples

91

110

10

$1,035,012

Palmira Golf & Country Club

16

20

10

$304,282

200

236

10

$1,338,837

Pelican Bay Pelican Landing

36

76

6

$326,855

Pelican Marsh

48

90

6

$386,333

Pelican Sound

12

66

2

$290,884

Pine Ridge

10

14

8

$199,305

Tiburon

22

39

7

$729,028

Vanderbilt Beach

85

87

12

$804,866

Vineyards

73

119

7

$362,643

West Bay Club

11

18

7

$588,176

* 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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