The Resop Team William Raveis Real Estate Luxury Properties Market Report July 2021

THERESOPTEAM RESULTS DRIVEN REAL ESTATE

JULY 2021 LUXURY PROPERTIES MARKET REPORT Naples | Bonita Springs

NAPLES AND BONITA SPRINGS – SINGLE FAMILY PROPERTIES CLOSED SALES •

The number of closed sales in the 12 months ending July 31, 2021 for the Naples and Bonita Springs Area increased 51% year-over-year (10,752 vs 7,113).

•

There were 61 closed sales, priced above two million in July 2021 compared to 50 in July 2020, a 22% increase. During the 12 months ending July 31, 2021, sales in this category increased 154% over the same time period in 2020 (1,020 vs 402).

NEW LISTINGS / INVENTORY •

During the 12 months ending July 31, 2021, a total of 10,796 new listings were added to the market, this is a 7% increase vs the same time period 12 months ending July 31, 2020.

•

Available inventory as of July 31, 2021 consisted of 2,306 units, a decrease of 44% 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 $938,464 a 38% increase vs the same time period in 2020.

•

The median sales price for the area in July 2021 increased 34% to $564,250 vs July 2020.

NAPLES AND BONITA SPRINGS – CONDOMINIUMS CLOSED SALES •

The number of closed sales in the 12 months ending July 31, 2021 for the Naples and Bonita Springs Area increased 80% year-over-year (9,194 vs 5,101).

•

There were 27 closed sales priced above two million compared to 9 in July 2020, a 200% increase.

During the 12 months ending July 31, 2021, sales in this category increased 215% vs the same time period in 2020 (384 vs 122 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending July 31, 2021, a total of 8,643 new listings were added to the market, a 9% increase vs the same time period 12 months ending July 31, 2020.

•

Available inventory as of July 31, 2021 consisted of 1,368 units, a decrease of 61% vs the same time period in 2020. Current inventory represents 2.5 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $542,850 an increase of 25% vs the same time period in 2020.

•

The median sales price for the area in July 2021 increased 29% to $339,000 vs July 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 July 31, 2021 for the luxury market from Port Royal to Bonita Beach Road Area increased 103% year-over-year (759 vs 373).

NEW LISTINGS / INVENTORY •

During the 12 months ending July 31, 2021, a total of 736 new listings were added to the market, an increase of 12% compared to the same time period 12 months ending July 31, 2020.

•

Available inventory as of July 31, 2021 consisted of 185 units, a decrease of 50% vs the same time period in 2020 (185 vs 369). Current inventory represents 4.7 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $4,315,320 an increase of 20% vs the same time period in 2020.

•

The median sales price for the area in July 2021 increased 31% to $3,600,000 vs July 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 July 31, 2021 for the luxury market from Port Royal to Bonita Beach Road Area increased 162% year-over-year (887 vs 338).

NEW LISTINGS / INVENTORY •

During the 12 months ending July 31, 2021, a total of 827 new listings were added to the market, an increase of 22% vs the same time period 12 months ending July 31, 2020.

•

Available inventory as of July 31, 2021 consisted of 153 units, a 60% decrease 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 $2,182,754, increasing 7% vs the same time period in 2020.

•

The median sales price for the area in July 2021 increased 10% to $1,825,000 vs July 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 ---------------- 10,153 2018 ---------------- 9,664 2019 ---------------- 10,322 2020 --------------- 10,084 2021 ---------------- 10,796

8,000

6,000

Closed Units

4,000

2017 ---------------- 6,301 2018 ---------------- 6,041 2019 ----------------- 6,499 2020 --------------- 7,113 2021 ---------------- 10,752

2,000

0 2017

2018

2019

2020

2021

Naples and Bonita Springs - Condominiums 10,000

New Listings 2017 ----------------- 8,077 2018 ----------------- 8,028 2019 ----------------- 8,222 2020 ---------------- 7,894 2021 ------------------ 8,643

8,000

6,000

Closed Units

4,000

2017 ----------------- 5,030 2018 ----------------- 4,992 2019 ----------------- 5,229 2020 ---------------- 5,101 2021 ------------------ 9,194

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

$938K

$800,000

$600,000

$701K

$689K

$682K

2018

2019

2020

$630K $400,000

$200,000

$0 2017

2021

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

$800,000

$600,000 $543K

$400,000 $412K

$435K

$436K

$434K

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 ---------------- 651 2018 ---------------- 608 2019 ---------------- 649 2020 --------------- 657 2021 ---------------- 736

700 600 500

Closed Units

400

2017 ---------------- 305 2018 ---------------- 352 2019 ----------------- 370 2020 --------------- 373 2021 ---------------- 759

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 ---------------- 556 2018 ---------------- 639 2019 ---------------- 630 2020 --------------- 678 2021 ---------------- 827

800 700 600 500

Closed Units 2017 ---------------- 329 2018 ---------------- 426 2019 ----------------- 362 2020 --------------- 338 2021 ---------------- 887

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

$4.315M

$3,500,000

$3,000,000

$3.775M $3.256M

$3.600M

$3.355M

$2,500,000

$2,000,000

$1,500,000 0 2017

2018

2019

2020

2021

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

$2,000,000 $1.975M

$1.952M

2017

2018

$2.109M

$2.047M

2019

2020

$2.183M

$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 July 31, 2021

ACTIVE LISTINGS

% CHANGE

CLOSED PAST % MONTHS OF 12 MONTHS CHANGE SUPPLY

% CHANGE

AVERAGE CLOSED PRICE

% CHANGE

Aqualane Shores

9

-57%

60

+122%

5.3

-56%

$5,947,122

+17%

Bonita Bay

4

-88%

101

+84%

4.1

-34%

$1,637,792

+27%

Collier’s Reserve

0

-100%

22

+47%

1.7

-79%

$1,530,795

+3%

Grey Oaks

2

-94%

89

+71%

3.7

-70%

$2,841,371

+5%

Isles of Collier Preserve

8

-71%

86

+83%

2.8

-55%

$1,230,855

+25%

Kensington

1

-80%

18

+20%

2.3

-53%

$906,861

+7%

Lely Resort

7

-93%

243

+131%

4.6

-57%

$781,221

+17%

Mediterra

10

-80%

93

+144%

5.1

-60%

$2,264,645

+6%

Monterey

1

-90%

38

+100%

3.7

-23%

$947,205

+17%

27

-60%

262

+80%

2.9

-50%

$572,897

+26%

Naples Reserve

5

-89%

155

+55%

2.1

-72%

$741,313

+39%

Olde Naples

19

-65%

124

+68%

4.9

-53%

$4,453,177

+14%

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

20

-78%

193

+84%

4.8

-51%

$2,657,448

+33%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

7

-65%

41

+32%

3.6

-54%

$4,295,062

+23%

Pelican Bay

9

-72%

89

+68%

4.3

-58%

$3,770,293

+34%

Pelican Landing

2

-94%

98

+145%

4.1

-49%

$872,153

+19%

Pelican Marsh

3

-90%

98

+66%

3.8

-51%

$1,443,539

+36%

Pine Ridge

9

-74%

62

+72

4.7

-64%

$2,782,406

+30%

Port Royal

8

-81%

69

+123%

6.0

-59%

$11,269,029

+20%

Quail Creek

4

-74%

37

+85%

3.5

-46%

$1,556,257

+54%

Quail West

6

-86%

98

+69%

3.2

-73%

$2,516,780

+33%

Royal Harbor

5

-84%

62

+107

3.4

-72%

$2,844,981

+12%

The Colony At Pelican Landing

0

-100%

26

+333%

4.6

-65%

$1,577,500

+7%

Tiburon

3

-67%

21

+91%

2.4

-48%

$2,006,155

+16%

Vanderbilt Beach

6

-76%

55

+57%

3.5

-70%

$2,381,799

+25%

Vineyards

3

-91%

97

+59%

2.5

-68%

$795,693

+19%

Naples Park

* 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 July 31, 2021

ACTIVE LISTINGS

% CHANGE

CLOSED PAST % 12 MONTHS CHANGE

MONTHS OF % AVERAGE SUPPLY CHANGE CLOSED PRICE

% CHANGE

Bonita Bay

16

-80%

190

+57%

4.7

-43%

$923,547

+15%

Grey Oaks

0

-100%

19

+171%

2.6

-10%

$1,062,679

+29%

Isles of Collier Preserve

1

-92%

54

+50%

2.7

-64%

$556,875

+7%

Kensington

0

-100%

40

+300%

6.8

-34%

$471,924

-1%

Lely Resort

17

-82%

290

+66%

4.0

-45%

$327,510

+7%

1

-96%

35

+192%

4.7

-66%

$603,514

+5%

35

-60%

212

+77%

6.6

-33%

$1,079,606

+16%

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

9

-85%

160

+119%

4.6

-53%

$548,854

+36%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

30

-87%

523

+87%

5.4

-41%

$1,606,932

+19%

Pelican Bay

26

-85%

502

+103%

4.6

-51%

$1,369,620

+21%

Pelican Landing

1

-97%

116

+49%

2.7

-54%

$377,556

11%

Pelican Marsh

4

-91%

132

+67%

2.9

-59%

$445,984

+18%

The Dunes of Naples

3

-91%

72

+80%

4.8

-35%

$1,190,650

+4%

1

-96%

66

+89%

4.5

33%

$802,258

+2

Vanderbilt Beach

16

-81%

199

+126%

5.5

-51%

$1,121,817

+16%

Vineyards

3

-95%

176

+49%

3.4

-48%

$412,664

+19%

Mediterra Olde Naples

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.

THERESOPTEAM RESULTS DRIVEN REAL ESTATE Chris & Kara Resop 239.231.6164 Chris.Resop@Raveis.com | ChrisResop.com 800 Seagate Drive | Naples | FL 34103