Grey Oaks Real Estate Aug 2020 Market Report

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AUGUST 2020 LUXURY PROPERTIES MARKET REPORT RE EA AL L E ES ST TA AT TE E R

Naples | Bonita Springs

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REAL ESTATE

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REAL ESTATE

NAPLES AND BONITA SPRINGS – SINGLE FAMILY PROPERTIES CLOSED SALES •

The number of closed sales in the 12 months ending August 31, 2020 for the Naples and Bonita Springs Area increased 10% year-over-year (7,232 vs 6,548).

•

There were 49 closed sales, priced above two million, in August 2020 compared to 14 in August 2019, a 250% increase. During the 12 months ending August 31, 2020, sales in this category increased 21% over the same time period in 2019 (436 vs 359).

NEW LISTINGS / INVENTORY •

During the 12 months ending August 31, 2020, a total of 10,071 new listings were added to the market, this is a 2% decrease vs the same time period 12 months ending August 31, 2019.

•

Available inventory as of August 31, 2020 consisted of 3,724 units, a decrease of 10% vs the same time period in 2019. Current inventory represents 4.9 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $695,740, remaining relatively the same with an increase of less than 1% vs the same time period in 2019.

•

The median sales price for the area in August 2020 increased 14% to $435,000 vs August 2019.

NAPLES AND BONITA SPRINGS – CONDOMINIUMS CLOSED SALES •

The number of closed sales in the 12 months ending August 31, 2020 for the Naples and Bonita Springs Area remained relatively the same with a decrease of less than 1% year-over-year (5,193 vs 5,220).

•

There were 59 closed sales priced above two million compared to 6 in August 2019, an 883% increase. During the 12 months ending August 31, 2020, sales in this category increased 15% vs the same time period in 2019 (173 vs 151 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending August 31, 2020, a total of 8,002 new listings were added to the market, a 2% decrease vs the same time period 12 months ending August 31, 2019.

•

Available inventory as of August 31, 2020 consisted of 3,323 units, remaining relatively the same with an increase of 1% vs the same time period in 2019. Current inventory represents 6.5 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $460,783, an increase of 5% vs the same time period in 2019.

•

The median sales price for the area in August 2020 increased 22% to $284,000 vs August 2019.

* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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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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, 2020 for the luxury market from Port Royal to Bonita Beach Road Area increased 9% year-over-year (396 vs 364).

NEW LISTINGS / INVENTORY •

During the 12 months ending August 31, 2020, a total of 674 new listings were added to the market, an increase of 5% compared to the same time period 12 months ending August 31, 2019.

•

Available inventory as of August 31, 2020 consisted of 345 units, remaining relatively the same with an increase of less than 1% vs the same time period in 2019 (345 vs 344). Current inventory represents 9.6 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $3,465,347, a decrease of 12% vs the same time period in 2019.

•

The median sales price for the area in August 2020 increased 42% to $2,900,000 vs August 2019.

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, 2020 for the luxury market from Port Royal to Bonita Beach Road Area increased 13% year-over-year (416 vs 368).

NEW LISTINGS / INVENTORY •

During the 12 months ending August 31, 2020, a total of 741 new listings were added to the market, an increase of 20% vs the same time period 12 months ending August 31, 2019.

•

Available inventory as of August 31, 2020 consisted of 342 units, an 18% increase vs the same time period in 2019. 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 $2,092,866, remaining relatively the same with a decrease of 1% vs the same time period in 2019.

•

The median sales price for the area in August 2020 increased 50% to $2,080,000 vs August 2019.

* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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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REAL ESTATE

New Listings | Closed Units 12 Month Comparisons Naples and Bonita Springs - Single Family Properties 12,000

New Listings

10,000

2016 ---------------- 10,097 2017 ---------------- 10,143 2018 ---------------- 9,695 2019 ---------------- 10,263 2020 --------------- 10,071

8,000

6,000

Closed Units

4,000

2016 ---------------- 5,923 2017 ---------------- 6,309 2018 ----------------- 6,013 2019 ---------------- 6,548 2020 --------------- 7,232

2,000

0 2016

2017

2018

2019

2020

Naples and Bonita Springs - Condominiums 10,000

New Listings 2016 ----------------- 8,080 2017 ----------------- 8,121 2018 ----------------- 8,019 2019 ----------------- 8,185 2020 ----------------- 8,002

8,000

6,000

Closed Units

4,000

2016 ----------------- 4,914 2017 ----------------- 5,027 2018 ----------------- 5,047 2019 ----------------- 5,220 2020 ----------------- 5,193

2,000

0 2016

2017

2018

2019

2020

* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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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REAL ESTATE

Average Sales Price 12 Month Comparisons Naples and Bonita Springs - Single Family Properties $800,000 $700,000 $600,000

$657K

$643K

2016

2017

$691K

$691K

2018

2019

$696K

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

2020

Naples and Bonita Springs - Condominiums $500,000

$461K $400,000

$390K

$414K

$436K

$437K

2018

2019

$300,000

$200,000

$100,000

0

2016

2017

2020

* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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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REAL ESTATE

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

700

2016 ---------------- 673 2017 ---------------- 650 2018 ---------------- 602 2019 ---------------- 645 2020 --------------- 674

600 500 400

Closed Units

300

2016 ---------------- 323 2017 ---------------- 306 2018 ----------------- 345 2019 ---------------- 364 2020 --------------- 396

200

0

2016

2017

2018

2019

2020

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

800

2016 ---------------- 564 2017 ---------------- 588 2018 ---------------- 632 2019 ---------------- 616 2020 --------------- 741

700 600 500 400

Closed Units 2016 ---------------- 280 2017 ---------------- 329 2018 ----------------- 429 2019 ---------------- 368 2020 --------------- 416

300 200

0

2016

2017

2018

2019

2020

* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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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REAL ESTATE

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

$3.919M $3.323M

$3.411M

$3.465M

$3.310M

$2,500,000

$2,000,000

$1,500,000 0 2016

2017

2018

2019

2020

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

$2,000,000

$2.011M

$1.985M

2016

2017

$1,500,000

$2.110M

$2.093M

2019

2020

$1.929M

$1,000,000

$500,000

0

2018

* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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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REAL ESTATE

Neighborhood Snapshot Report Single Family Properties

Monthly Snapshot as of August 31, 2020

ACTIVE LISTINGS

% CHANGE

CLOSED PAST % MONTHS OF 12 MONTHS CHANGE SUPPLY

% CHANGE

AVERAGE CLOSED PRICE

% CHANGE

Aqualane Shores

17

-6%

28

+40%

11.3

-7%

$5,018,110

+4%

Bonita Bay

25

+4%

62

-5%

6.1

-16%

$1,286,017

+24%

6

-54%

15

+15%

7.3

-25%

$1,548,793

+20%

Grey Oaks

24

-50%

44

-18.5%

11.2

-21%

$2,681,715

+18%

Isles of Collier Preserve

21

+24%

48

+23%

5.9

-21%

$996,485

+6%

Kensington

3

-63%

17

+21%

4.7

-28%

$819,377

-11%

Lely Resort

71

-4%

107

+12%

10.4

-12%

$677,345

+8%

Mediterra

40

-27%

42

-2%

12.5

-19%

$2,121,135

-2%

Monterey

9

-50%

21

-9%

4.7

-27%

$833,851

+17%

Naples Park

34

-49%

166

+17%

5.3

-35%

$462,287

+8%

Naples Reserve

30

-32%

107

+26%

7.1

-22%

$526,538

+1%

Olde Naples

43

-37%

77

+9%

9.9

-39%

$3,955,896

-2%

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

69

-9%

113

+7%

9.5

-18%

$2,002,562

-6%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

13

-44%

31

-6%

7.6

-23%

$3,716,637

+4%

Pelican Bay

27

-18%

55

+17%

9.9

+3%

$2,880,200

+17%

Pelican Landing

22

-24%

38

-39%

7.9

-20%

$749,563

-6%

Pelican Marsh

21

-34%

57

+63%

7.4

-27%

$1,063,151

+13%

Pine Ridge

28

-15%

35

-5%

12.9

+30%

$2,246,328

+35%

Port Royal

41

-13%

33

-18%

14.4

-11%

$8,401,364

-11%

Quail Creek

8

-47%

21

-19%

6.2

-29%

$1,081,714

-6%

Quail West

25

-51%

59

+11%

11

-16%

$1,937,405

+1%

Royal Harbor

19

-27%

34

+17%

11.5

+3%

$2,718,147

+30%

The Colony At Pelican Landing

10

-9%

7

no change

-5%

$1,509,857

-8%

Tiburon

4

-20%

9

+29%

4.6

+10%

$1,756,111

+33%

Vanderbilt Beach

18

-40%

40

+67%

10.9

-17%

$1,956,158

+2%

Vineyards

20

-43%

63

-7%

7

-26%

$659,735

-4%

Collier’s Reserve

12.6

* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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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REAL ESTATE

Neighborhood Snapshot Report Condominiums

Monthly Snapshot as of August 31, 2020

ACTIVE LISTINGS

% CHANGE

CLOSED PAST % 12 MONTHS CHANGE

MONTHS OF % AVERAGE SUPPLY CHANGE CLOSED PRICE $792,927

% CHANGE

Bonita Bay

66

-10%

124

-5%

8.1

-6%

-1%

Grey Oaks

7

-13%

7

-50%

2.9

-46%

$811,571

-10%

Isles of Collier Preserve

10

-50%

37

+28%

7.1

-21%

$520,733

+6%

Kensington

14

+75%

11

-52%

10.9

+118%

$469,818

+6%

Lely Resort

77

-39%

105

-25%

6.8

-37%

$307,353

-3%

Mediterra

21

+17%

12

no change

13.7

+67%

$538,153

-7%

Olde Naples

70

-15%

119

+11%

9

-22%

$922,032

-16%

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

43

+2%

78

+22%

9.6

+37%

$417,512

+8%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

193

+6%

278

-6%

9.2

-5%

$1,399,751

+8%

Pelican Bay

129

-25%

257

-3%

8.7

-2%

$1,189,215

-17%

Pelican Landing

27

no change

80

+1%

5.8

-32%

$337,826

+6%

Pelican Marsh

31

-31%

80

+1%

6.5

-32%

$382,234

-1%

Pine Ridge

6

-14%

18

+39%

4.4

-43%

$213,278

-1%

The Dunes of Naples

28

-9%

43

+34%

6

-65%

$1,106,235

-9%

Tiburon

16

-16%

35

-17%

4.8

+5%

$782,669

-1%

Vanderbilt Beach

69

-19%

88

-8%

10.9

-11%

$984,189

11%

Vineyards

44

-43%

120

-2%

6.2

-38%

$355,298

-2%

* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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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For more information on single family homes and condominiums in Grey Oaks, please contact Grey Oaks Real Estate.

Grey Oaks Real Estate

Jeanne Lesch Onsite Sales 203.858.4429 jeanne.lesch@raveis.com

Office Hours Monday - Friday 9AM-5PM Saturday 10AM-5PM Sunday 12PM-5PM 2400 Grey Oaks Drive North Naples, FL 34105 239.276.7103 realestate.greyoakscc.com