NAPLES
MAY 2024
PROPERTIES MARKET REPORT
BONITA SPRINGS
LUXURY
NAPLES & BONITA SPRINGS
Single-Family Properties
CLOSED SALES
• The number of closed sales in the 12 months ending May 31st, 2024 for the Naples and Bonita Springs Area decreased 5% year-over-year (6,180 vs 6,512).
• There were 97 closed sales priced above two million in May 2024 compared to 100 in May 2023; a 3% decrease. During the 12 months ending May 31st, 2024, sales in this category decreased 2% over the same time period in 2023 (715 vs 728 units).
NEW LISTINGS / INVENTORY
• During the 12 months ending May 31st, 2024, a total of 10,055 new listings were added to the market, this is an 8% increase vs the same time period 12 months ending May 31st, 2023.
• Available inventory as of May 31st, 2024 consisted of 4,078 units, an increase of 32% vs the same time period in 2023. 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 $1,183,496, a 2% increase vs the same time period in 2023.
• The median sales price for the area in May 2024 increased 9% to $775,000 vs May 2023.
*Source of this market data: Southwest Florida MLS © 2024. 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.
NAPLES & BONITA SPRINGS
Condominiums
CLOSED SALES
• The number of closed sales in the 12 months ending May 31st, 2024 for the Naples and Bonita Springs Area decreased 10% year-over-year (4,512 vs 4,995).
• There were 76 closed sales priced above two million in May 2024 compared to 51 in May 2023; a 49% increase. During the 12 months ending May 31st, 2024, sales in this category increased 0.2% over the same time period in 2023 (457 vs 456 units).
NEW LISTINGS / INVENTORY
• During the 12 months ending May 31st, 2024, a total of 7,835 new listings were added to the market, a 21% increase vs the same time period 12 months ending May 31st, 2023.
• Available inventory as of May 31st, 2024 consisted of 3,491 units, an increase of 55% vs the same time period in 2023. 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 $840,182, a 5% increase vs the same time period in 2023.
• The median sales price for the area in May 2024 increased 13% to $524,920 vs May 2023.
*Source of this market data: Southwest Florida MLS © 2024. 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 Broker in the World
by Luxury Portfolio International | 2018
William Raveis is honored to be recognized as the #1 Luxury Broker in the World by Luxury Portfolio International in 2018
550
| 4,300
OFFICES
ASSOCIATES
WINNER
COMPANIES
| 135,000
1
PORT ROYAL to BONITA BEACH ROAD AREA
Single-Family Properties
LUXURY MARKET $1M+ (WEST OF 41)
CLOSED SALES
• The number of closed sales in the 12 months ending May 31st, 2024 for the luxury market from Port Royal to Bonita Beach Road Area decreased 17% year-over-year (314 vs 377).
NEW LISTINGS / INVENTORY
• During the 12 months ending May 31st, 2024, a total of 780 new listings were added to the market, a decrease of 6% compared to the same time period 12 months ending May 31st, 2023.
• Available inventory as of May 31st, 2024 consisted of 477 units, a 13% increase vs the same time period in 2023 (477 vs 423). 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 $4,380,497 a decrease of 11% vs the same time period in 2023.
• The median sales price for the area in May 2024 decreased 45% to $2,500,000 vs May 2023.
*Source of this market data: Southwest Florida MLS © 2024. 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.
PORT ROYAL to BONITA BEACH ROAD AREA
Condominiums
LUXURY MARKET $1M+ (WEST OF 41)
CLOSED SALES
• The number of closed sales in the 12 months ending May 31st, 2024 for the luxury market from Port Royal to Bonita Beach Road Area increased 1% year-over-year (630 vs 626).
NEW LISTINGS / INVENTORY
• During the 12 months ending May 31st, 2024, a total of 1,172 new listings were added to the market, an increase of 30% vs the same time period 12 months ending May 31st, 2023.
• Available inventory as of May 31st, 2024 consisted of 580 units, a 58% increase vs the same time period in 2023 (580 vs 368). 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 $2,586,291, increasing 2% vs the same time period in 2023.
• The median sales price for the area in May 2024 increased 35% to $2,570,000 vs May 2023.
*Source of this market data: Southwest Florida MLS © 2024. 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.
NAPLES & BONITA SPRINGS
Single-Family Properties
YEAR-OVER-YEAR MARKET TRENDS
Condominium Properties
*Source of this market data: Southwest Florida MLS © 2024. 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.
YEAR-OVER-YEAR MARKET TRENDS
Average Sales Price New Listings Closed Units
Average Sales Price New Listings Closed Units 9,765 10,915 10,139 9,281 10,055 6,789 10,675 8,884 6,512 6,180 $670,802 $900,277 $1,071,266 $1,160,958 $1,183,496 2020 2021 2022 2023 2024 7,466 9,066 7,527 6,476 7,835 5,087 8,754 7,086 4,995 4,512 $434,207 $524,235 $649,660 $801,762 $840,182 2020 2021 2022 2023 2024
PORT ROYAL to BONITA BEACH ROAD AREA
*Source of this market data: Southwest Florida MLS © 2024. 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 New Listings Closed Units Average Sales Price New Listings Closed Units
YEAR-OVER-YEAR MARKET TRENDS Single-Family Properties YEAR-OVER-YEAR MARKET TRENDS Condominium Properties 626 756 662 829 780 345 754 509 377 314 $3,636,641 $4,116,124 $5,408,093 $4,907,696 $4,380,497 2020 2021 2022 2023 2024 616 904 741 901 1,172 339 848 697 626 630 $2,125,711 $2,124,437 $2,452,813 $2,531,887 $2,586,291 2020 2021 2022 2023 2024
In U.S. Home Sales
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COMMUNITY SNAPSHOT REPORT
Single-Family Properties
12 MONTHS ENDING MAY, 2024
*Source of this market data: Southwest Florida MLS © 2024. 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 Inventory Closed Sales Average Sales Price Months Of Supply % Change % Change % Change % Change
Aqualane Shores 30 36% 11 -27% 32.7 86% $10,945,455 24% Bonita Bay 34 183% 75 67% 5.4 70% $2,107,510 3% Collier’s Reserve 4 33% 13 -13% 3.7 54% $2,910,645 15% Fiddler's Creek 36 50% 84 27% 5.1 18% $1,616,373 3% Grey Oaks 21 62% 44 26% 5.7 29% $4,648,807 23% Isles of Collier Preserve 43 34% 101 40% 5.1 -4% $1,675,163 -2% Kensington 3 50% 12 -29% 3.0 113% $1,647,667 7% Lely Resort 32 19% 99 -8% 3.9 28% $1,220,518 -7% Marco Island 221 7% 353 33% 7.5 13% $2,140,980 0% Mediterra 21 50% 31 0% 8.1 50% $4,047,583 4% Monterey 7 40% 15 -6% 5.6 49% $1,458,667 5% Naples Park 127 37% 125 2% 12.2 34% $1,078,749 1% Naples Reserve 31 35% 53 -10% 7.0 50% $1,175,123 -7% Olde Naples 55 62% 31 -43% 21.3 181% $7,664,355 5% Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront 96 6% 95 -23% 12.1 37% $4,558,245 21% Park Shore/Moorings/ Seagate/Coquina Sands Waterfront 26 -13% 22 -29% 14.2 22% $7,560,000 66% Pelican Bay 33 94% 41 3% 9.7 89% $3,542,819 -1% Pelican Landing 21 163% 49 -8% 5.1 184% $1,302,682 4% Pelican Marsh 12 33% 36 13% 4.0 19% $2,012,028 5% Pine Ridge 28 33% 22 -8% 15.3 46% $6,690,397 30% Port Royal 34 55% 11 -48% 37.1 195% $14,590,909 -22% Quail Creek 12 50% 19 0% 7.6 50% $2,717,105 17% Quail West 18 20% 33 7% 6.5 13% $5,033,389 18% Royal Harbor 24 60% 14 -39% 20.6 163% $5,613,536 30% The Colony At Pelican Landing 3 200% 9 800% 4.0 -67% $2,795,000 -49% Tiburon 4 33% 11 38% 4.4 -3% $3,714,091 -5% Vanderbilt Beach 33 44% 14 -18% 28.3 74% $4,395,036 10% Vineyards 20 54% 42 -46% 5.7 186% $1,169,760 -11%
*Source of this market data: Southwest Florida MLS © 2024. 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. COMMUNITY
Condominiums 12 MONTHS ENDING MAY, 2024 Bonita Bay 67 139% 118 -1% 6.8 139% $1,458,163 -25% Fiddler's Creek 42 75% 70 23% 7.2 43% $700,517 2% Grey Oaks 4 300% 7 -42% 6.9 586% $2,362,714 13% Isles of Collier Preserve 7 75% 9 -44% 9.3 211% $847,943 22% Kensington 3 0% 18 20% 2.0 -17% $882,278 8% Lely Resort 52 79% 109 -4% 5.7 86% $585,882 6% Marco Island 356 56% 362 -4% 11.8 109% $1,056,840 17% Mediterra 8 100% 12 0% 8.0 100% $1,643,333 6% Olde Naples 72 90% 76 -28% 11.4 164% $1,678,804 -7% Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront 234 134% 270 13% 10.4 108% $2,110,961 8% Park Shore/Moorings/ Seagate/Coquina Sands Waterfront 174 142% 200 11% 10.4 119% $2,643,208 12% Pelican Bay 129 115% 223 -4% 6.9 124% $2,065,765 12% Pelican Landing 13 117% 38 -27% 4.1 197% $590,421 3% Pelican Marsh 16 100% 50 -9% 3.8 120% $822,062 2% The Dunes of Naples 22 120% 29 32% 9.1 67% $1,827,362 -9% Tiburon 10 67% 21 -19% 5.7 106% $1,488,619 -3% Vanderbilt Beach 64 121% 61 36% 12.6 63% $1,401,365 -3% Vineyards 25 56% 70 -21% 4.3 99% $715,367 7% Neighborhood Inventory Closed Sales Average Sales Price Months Of Supply % Change % Change % Change % Change
SNAPSHOT REPORT
SOUTHWEST FLORIDA COMMUNITY GUIDE
- City of Naples
- North Naples (North of Pine Ridge Road)
- South Naples (South of Pine Ridge Road)
- Bonita Springs
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
&
GOLF COURSE KEY PRICE RANGE 18 holes 27 holes 36 holes 54 holes 90 holes Dominant price less than $1M Dominant price $1M to $2M Dominant price over $2M $ $$ $$$ $$ $$ 18 $ 54 $$$ 36 $$ $$$ 18 $$$ 54 $$$ 18 $$ 90 $$$ *Source of this market data: Southwest Florida MLS © 2024. Accuracy of this information is reliable but not guaranteed. Anyone who chooses to use this information to make market decisions should have this data independently verified. Neighborhood Golf Course Clubhouse Tennis Gated** Price Range Boating* Single-Family Condominium *Many properties are boating oriented (have a dock or has a community dock/marina). **May or may not be manned by a security guard.
NAPLES PARK
North Naples
NAPLES RESERVE
South Naples
OLD NAPLES
City of Naples
PARK SHORE
City of Naples
PELICAN BAY
North Naples
PELICAN LANDING
Bonita Springs
PELICAN MARSH
North Naples
PINE RIDGE
North Naples
PORT ROYAL
City of Naples
QUAIL CREEK
North Naples
QUAIL WEST
North Naples
ROYAL HARBOR
City of Naples
THE COLONY AT PELICAN LANDING
Bonita Springs
THE DUNES OF NAPLES
North Naples
TIBURON GOLF CLUB
North Naples
North Naples
Neighborhood Golf Course Clubhouse Tennis Gated** Price Range Boating* Single-Family Condominium
VANDERBILT BEACH AREA
North Naples $$ $$$ $$$ $$$ $ $$$ $$ $$$ $$$ $$$ $$ $$ $ $ 36 $$$ 27 $$$ $$$ 36 18 36 36 36 18 *Source of this market data: Southwest Florida MLS © 2024. 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. *Many properties are boating oriented (have a dock or has a community dock/marina). **May or may not be manned by a security guard.
VINEYARDS
WINNER
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