SEPTEMBER 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 September 30, 2019 for the Naples, Bonita Springs and Estero Area increased 6% year-over-year (7,359 vs 6,957).
•
There were 15 closed sales, priced above two million, in September 2019 compared to 29 in September 2018 a 48% decrease. During the 12 months ending September 30, 2019, sales in this category decreased 9% over the same time period in 2018 (372 vs 407).
NEW LISTINGS / INVENTORY •
During the 12 months ending September 30, 2019, a total of 11,383 new listings were added to the market, this is relatively flat vs. the same time period 12 months ending September 30, 2018.
•
Available inventory as of September 30, 2019 consisted of 4,491 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 $669,224 which remained relatively the same with a decrease of less than 3% vs. the same time period in 2018.
•
The median sales price for the area decreased 2% to $384,833 from $392,588 in 2018.
NAPLES, BONITA SPRINGS AND ESTERO – CONDOMINIUMS CLOSED SALES •
The number of closed sales in the 12 months ending September 30, 2019 for the Naples, Bonita Springs and Estero Area was unchanged year-over-year (5,792 vs 5,799).
•
There were 6 closed sales priced above two million in September 2019, the same number as September 2018. During the 12 months ending September 30, 2019, sales in this category increased 4% over the same time period in 2018 (125 vs 120 units).
NEW LISTINGS / INVENTORY •
During the 12 months ending September 30, 2019, a total of 6,469 new listings were added to the market, a 6% decrease vs. the same time period 12 months ending September 30, 2018.
•
Available inventory as of September 30, 2019 consisted of 3,416 units, a decrease of 6% vs the same time period in 2018. 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 $415,230, a decrease of 3% vs the same time period in 2018.
•
The median sales price for the area remained relatively the same with a decrease of 2% to $245,860 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 September 30, 2019 for the luxury market from Port Royal to Bonita Beach Area decreased 4% year-over-year (399 vs 416).
NEW LISTINGS / INVENTORY •
During the 12 months ending September 30, 2019, a total of 619 new listings were added to the market, this is approximately 3% fewer listings than the same time period 12 months ending September 30, 2018.
•
Available inventory as of September 30, 2019 consisted of 436 units, a decrease of 3% vs the same time period in 2018. Current inventory represents 13 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE •
The year-over-year average sales price for the area was $3,508,154, which increased 11% vs the same time period in 2018.
•
The median sales price for the area increased 12% to $2,530,666 from $2,255,833.
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 September 30, 2019 for the luxury market from Port Royal to Bonita Beach Area increased 18% year-over-year (337 vs 286).
NEW LISTINGS / INVENTORY •
During the 12 months ending September 30, 2019, a total of 477 new listings were added to the market, a decrease of 9% vs the same time period 12 months ending September 30, 2018.
•
Available inventory as of September 30, 2019 consisted of 354 units, an increase of 4% 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 $1,931,934, which remained unchanged vs. the same time period in 2018.
•
The median sales price for the area decreased 4% to $1,538,583 from $1,600,055.
* 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 ---------------- 10,744 2016 ---------------- 11,466 2017 ---------------- 10,869 2018 ---------------- 11,455 2019 ---------------- 11,383
8,000
6,000 Closed Units
4,000
2015 ---------------- 7,296 2016 ---------------- 6,584 2017 ---------------- 6,912 2018 ---------------- 6,957 2019 ---------------- 7,359
2,000 0
2015
2016
2017
2018
2019
Naples, Bonita Springs and Estero - Condominiums 10,000
New Listings 2015 ----------------- 8,154 2016 ----------------- 9,010 2017 ----------------- 8,703 2018 ----------------- 9,254 2019 ----------------- 8,918
8,000
6,000
Closed Units
4,000
2015 ----------------- 6,408 2016 ----------------- 5,383 2017 ----------------- 5,511 2018 ----------------- 5,799 2019 ----------------- 5,792
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
$610K
$621K
$628K
2015
2016
2017
$663K
$656K
2018
2019
$500,000 $400,000 $300,000 $200,000
$500,000
Naples, Bonita Springs and Estero - Condominiums
$400,000 $371K
$380K
$395K
$415K
$413K
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
725 790 715 723 723
500 400 Closed Units
300
2015 ------------------ 388 2016 ------------------ 368 2017 ------------------ 373 2018 ------------------ 416 2019 ------------------ 399
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 ------------------ 3 92 2016 ------------------ 485 2017 ------------------ 498 2018 ------------------ 5 1 1 2019 ------------------ 540
400 300
Closed Units 2015 ------------------ 311 2016 ------------------ 262 2017 ------------------ 275 2018 ------------------ 286 2019 ------------------ 337
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+) $4,000,000 $3,500,000 $3,000,000
$3.597M $3.197M
$3.104M
$3.187M
2016
2017
$3.044M
$2,500,000 $2,000,000 $1,500,000
0
2015
2018
2019
Luxury Property Market - Port Royal to Bonita Beach Area (West of 41) Condominiums ($1M+) $2,500,000 $2,000,000 $2.013M
$2.033M
$1.980M
$1.944M
$2.011M
2015
2016
2017
2018
2019
$1,500,000
$1,000,000
$500,000
0
* 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
18
20
15
$3,692,515
Audubon
31
22
19
$1,047,208
Barefoot Beach
17
12
22
$3,352,956
Bonita Bay
19
16
15
$876,708
The Brooks
2
13
9
$325,600
Colliers Reserve
11
13
18
$1,023,833
Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront
95
104
12.5
$2,081,120
Park Shore/Moorings/ Seagate/Coquina Sands Waterfront
20
29
12
$3,253,370
Crossings
7
15
7
$533,000
Grey Oaks
51
38
18
$1,902,970
Kensington
9
16
10
$582,510
Lely Resort
83
114
12
$602,776
Mediterra
59
40
19
$1,586,800
Monterey
15
24
18
$619,113
Olde Naples
64
77
14
$3,908,955
Palmira Golf & Country Club
24
33
12
$515,000
Pelican Bay
39
58
12
$2,272,603
Pelican Landing
37
64
9
$821,955
Pelican Landing (The Colony)
12
7
23
$784,583
Pelican Marsh
33
39
12
$782,955
Pelican Sound
0
5
2
$238,290
Pine Ridge
40
32
14
$1,424,962
Port Royal
42
39
17
$9,136,420
Quail Creek
16
26
10
$1,020,000
Quail West
51
52
16
$1,885,115
Royal Harbor
21
25
16
$1,563,764
Tiburon
8
8
13
$1,341,500
Vanderbilt Beach
29
28
16
$1,937,725
Vineyards
41
68
10
$684,492
West Bay Club
19
18
14
$1,214,546
Monthly Snapshot as of September 30, 2019
AVERAGE CLOSED PRICE
* 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
17
6
$1,614,063
Bonita Bay
82
120
10
$876,868
Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront
45
57
10
$387,733
Park Shore/Moorings/ Seagate/Coquina Sands Waterfront
163
282
10
$1,362,820
The Dunes
25
36
12
$1,218,106
Grey Oaks
6
15
8
$904,708
Monthly Snapshot as of September 30, 2019 Barefoot Beach
AVERAGE CLOSED PRICE
Kensington
9
20
8
$469,273
Lely Resort
111
161
10
$313,494
Mediterra
17
12
14
$584,475
Monterey
0
1
3
$315,000
Olde Naples
81
110
12
$1,082,240
Palmira Golf & Country Club
14
18
12
$301,631
Pelican Bay
169
239
10
$1,350,082
Pelican Landing
26
79
7
$324,730
Pelican Marsh
37
89
9
$390,641
Pelican Sound
11
64
5
$284,920
Pine Ridge
8
14
10
$179,375
Tiburon
24
36
8.5
$759,950
Vanderbilt Beach
83
86
15
$781,544
Vineyards
71
117
11
$362,995
West Bay Club
14
18
7
$585,954
* 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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