William Raveis Real Estate Luxury Properties Market Report August 2021

MANAGED BY BY MANAGED

AUGUST 2021 LUXURY PROPERTIES MARKET REPORT RE EA AL L E ES ST TA AT TE E R

Naples | Bonita Springs

NAPLES AND BONITA SPRINGS – SINGLE FAMILY PROPERTIES CLOSED SALES •

The number of closed sales in the 12 months ending August 31, 2021 for the Naples and Bonita Springs Area increased 45% year-over-year (10,726 vs 7,382).

•

There were 50 closed sales, priced above two million in August 2021 compared to 49 in August 2020, a 2% increase. During the 12 months ending August 31, 2021, sales in this category increased 136% over the same time period in 2020 (1,031 vs 437 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending August 31, 2021, a total of 10,723 new listings were added to the market, this is a 5% increase vs the same time period 12 months ending August 31, 2020.

•

Available inventory as of August 31, 2021 consisted of 2,228 units, a decrease of 42% vs the same time period in 2020. Current inventory represents 3.3 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $951,206 a 37% increase vs the same time period in 2020.

•

The median sales price for the area in August 2021 decreased 30% to $558,275 vs August 2020.

NAPLES AND BONITA SPRINGS – CONDOMINIUMS CLOSED SALES •

The number of closed sales in the 12 months ending August 31, 2021 for the Naples and Bonita Springs Area increased 76% year-over-year (9,223 vs 5,249).

•

There were 21 closed sales priced above two million compared to 60 in August 2020, a 65% decrease. During the 12 months ending August 31, 2021, sales in this category increased 97% vs the same time period in 2020 (347 vs 176 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending August 31, 2021, a total of 8,431 new listings were added to the market, a 4% increase vs the same time period 12 months ending August 31, 2020.

•

Available inventory as of August 31, 2021 consisted of 1,302 units, a decrease of 62% vs the same time period in 2020. Current inventory represents 2.6 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $530,784 an increase of 15% vs the same time period in 2020.

•

The median sales price for the area in August 2021 decreased 14% to $325,000 vs August 2020.

* The source of this market data is the Southwest Florida MLS, Copyright 2021. 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 August 31, 2021 for the luxury market from Port Royal to Bonita Beach Road Area increased 88% year-over-year (751 vs 400).

NEW LISTINGS / INVENTORY •

During the 12 months ending August 31, 2021, a total of 716 new listings were added to the market, an increase of 5% compared to the same time period 12 months ending August 31, 2020.

•

Available inventory as of August 31, 2021 consisted of 174 units, a decrease of 51% vs the same time period in 2020 (174 vs 357). 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 $4,376,377 an increase of 27% vs the same time period in 2020.

•

The median sales price for the area in August 2021 decreased 15% to $2,450,000 vs August 2020.

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 August 31, 2021 for the luxury market from Port Royal to Bonita Beach Road Area increased 96% year-over-year (823 vs 419).

NEW LISTINGS / INVENTORY •

During the 12 months ending August 31, 2021, a total of 775 new listings were added to the market, an increase of 4% vs the same time period 12 months ending August 31, 2020.

•

Available inventory as of August 31, 2021 consisted of 158 units, a 55% decrease vs the same time period in 2020. Current inventory represents 4.4 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $2,211,724, increasing 6% vs the same time period in 2020.

•

The median sales price for the area in August 2021 decreased 7% to $1,924,750 vs August 2020.

* The source of this market data is the Southwest Florida MLS, Copyright 2021. 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

2017 ---------------- 10,143 2018 ---------------- 9,695 2019 ---------------- 10,264 2020 --------------- 10,250 2021 ---------------- 10,723

8,000

6,000

Closed Units

4,000

2017 ---------------- 6,311 2018 ---------------- 6,013 2019 ----------------- 6,549 2020 --------------- 7,382 2021 ---------------- 10,726

2,000

0 2017

2018

2019

2020

2021

Naples and Bonita Springs - Condominiums 10,000

New Listings 2017 ----------------- 8,121 2018 ----------------- 8,020 2019 ----------------- 8,187 2020 ---------------- 8,105 2021 ------------------ 8,431

8,000

6,000

Closed Units

4,000

2017 ----------------- 5,027 2018 ----------------- 5,049 2019 ----------------- 5,222 2020 ---------------- 5,249 2021 ------------------ 9,223

2,000

0 2017

2018

2019

2020

2021

* The source of this market data is the Southwest Florida MLS, Copyright 2021. 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 $1,00,000

$951K

$800,000

$600,000

$691K

$690K

$693K

2018

2019

2020

$643K $400,000

$200,000

$0 2017

2021

Naples and Bonita Springs - Condominiums $1,00,000

$800,000

$600,000 $531K

$400,000 $414K

$435K

$438K

$460K

2017

2018

2019

2020

$200,000

$0 2021

* The source of this market data is the Southwest Florida MLS, Copyright 2021. 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+ 900

New Listings

800

2017 ---------------- 650 2018 ---------------- 602 2019 ---------------- 645 2020 --------------- 682 2021 ---------------- 716

700 600 500

Closed Units

400

2017 ---------------- 306 2018 ---------------- 345 2019 ----------------- 364 2020 --------------- 400 2021 ---------------- 751

300 200 0

2017

2018

2019

2020

2021

Luxury Property Market - Port Royal to Bonita Beach Road Area (West of 41) Condominiums $1M+ 900

New Listings 2017 ---------------- 588 2018 ---------------- 633 2019 ---------------- 615 2020 --------------- 746 2021 ---------------- 775

800 700 600 500

Closed Units 2017 ---------------- 329 2018 ---------------- 429 2019 ----------------- 368 2020 --------------- 419 2021 ---------------- 823

400 300 200 0

2017

2018

2019

2020

2021

* The source of this market data is the Southwest Florida MLS, Copyright 2021. 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

$4.376M

$3,500,000

$3,000,000

$3.919M $3.411M

$3.310M

2017

2018

$3.447M

$2,500,000

$2,000,000

$1,500,000 0 2019

2020

2021

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

$2,000,000 $1.985M

$1.929M

2017

2018

$2.110M

$2.091M

2019

2020

$2.212M

$1,500,000

$1,000,000

$500,000

0

2021

* The source of this market data is the Southwest Florida MLS, Copyright 2021. 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 August 31, 2021

ACTIVE LISTINGS

% CHANGE

CLOSED PAST % MONTHS OF 12 MONTHS CHANGE SUPPLY

% CHANGE

AVERAGE CLOSED PRICE

% CHANGE

Aqualane Shores

10

-52%

59

+111%

4.9

-59%

$6,000,463

+20%

Bonita Bay

6

-79%

96

+55%

3.7

-41%

$1,654,813

+29%

Collier’s Reserve

0

-100%

20

+33%

1.3

-83%

$1,535,125

-1%

Grey Oaks

4

-88%

88

+69%

3.2

-72%

$2,908,466

+9%

Isles of Collier Preserve

8

-68%

85

+70%

2.5

-60%

$1,240,323

+23%

2.0

-58%

$991,441

+21%

Kensington

0

-100%

17

no change

Lely Resort

9

-91%

241

+125%

3.7

-65%

$781,132

+15%

Mediterra

6

-86%

91

+117%

4.4

-65%

$2,258,195

+7%

Monterey

2

-82%

38

+81%

3.5

-24%

$956,021

+15%

Naples Park

27

-60%

257

+54%

2.4

-57%

$592,357

+28%

Naples Reserve

4

-89%

143

+34%

1.8

-75%

$767,114

+46%

Olde Naples

15

-73%

122

+58%

4.4

-57%

$4,576,750

+16%

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

19

-77%

183

+58%

4.2

-57%

$2,719,880

+38%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

6

-65%

41

+32%

3.3

-58%

$4,473,720

+20%

Pelican Bay

7

-78%

89

+62%

3.9

-62%

$3,752,271

+30%

Pelican Landing

2

-94%

95

+150%

3.3

-61%

$873,905

+17%

Pelican Marsh

1

-96%

102

+79%

3.4

-55%

$1,586,880

+49%

Pine Ridge

7

-79%

58

+61%

3.9

-71%

$2,826,451

+28%

Port Royal

8

-81%

66

+100%

5.1

-65%

$11,669,894

+39%

Quail Creek

3

-75%

36

+71%

3.2

-50%

$1,503,653

+39%

Quail West

7

-80%

94

+59%

2.7

-76%

$2,539,143

+31%

Royal Harbor

8

-68%

59

+74%

2.9

-76%

$2,823,743

+4%

The Colony At Pelican Landing

0

-100%

24

+243%

3.8

-71%

$1,597,292

+6%

Tiburon

1

-90%

23

+156%

1.9

-62%

$2,138,228

+22%

Vanderbilt Beach

5

-77%

51

+28%

3.1

-72%

$2,387,332

+22%

Vineyards

8

-76%

95

+48%

2.1

-73%

$841,328

+28%

* The source of this market data is the Southwest Florida MLS, Copyright 2021. 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 August 31, 2021

ACTIVE LISTINGS

% CHANGE

CLOSED PAST % 12 MONTHS CHANGE

MONTHS OF % AVERAGE SUPPLY CHANGE CLOSED PRICE

% CHANGE

Bonita Bay

16

-80%

199

+60%

4.2

-50%

$936,833

+18%

Grey Oaks

0

-100%

20

+186%

2.1

-28%

$1,050.795

+30%

Isles of Collier Preserve

1

-94%

56

+51%

2.4

-67%

$570,223

+10%

Kensington

0

-100%

38

+246%

5.8

-48%

$475,709

+1%

Lely Resort

20

-80%

288

+66%

3.6

-49%

$333,303

+8%

2

-91%

36

+200%

3.8

-72%

$619,292

+15%

Olde Naples

30

-67%

217

+82%

5.6

-43%

$1,088,633

+18%

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

10

-83%

106

+126%

4.2

-59%

$644,276

+36%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

30

-87%

266

+77%

4.7

-47%

$2,041,622

+25%

Pelican Bay

25

-85%

500

+94%

4.0

-57%

$1,356,212

+14%

Pelican Landing

0

-100%

117

+46%

2.2

-63%

$385,145

14%

Pelican Marsh

1

-98%

132

+65%

2.5

-64%

$450,457

+17%

The Dunes of Naples

3

-91%

68

+258%

4.0

----

$1,209,365

+9%

1

-96%

65

+86%

3.9

44%

$815,323

+4%

Vanderbilt Beach

14

-83%

199

+126%

4.7

-58%

$1,181,231

+20%

Vineyards

5

-91%

179

+48%

3.1

-52%

$416,392

+17%

Mediterra

Tiburon

* The source of this market data is the Southwest Florida MLS, Copyright 2021. 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 2021. 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 2021. 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.