Grey Oaks Real Estate Market Report April 2020

APRIL 2020 LUXURY PROPERTIES MARKET REPORT GREY OAKS

MANAGED BY

REAL ESTATE

MANAGED BY

REAL ESTATE

NAPLES, BONITA SPRINGS AND ESTERO – SINGLE FAMILY PROPERTIES CLOSED SALES •

The number of closed sales in the 12 months ending April 30, 2020 for the Naples, Bonita Springs and Estero Area increased 12% year-over-year (7,875 vs 7,057).

•

There were 28 closed sales, priced above two million, in April 2020 compared to 59 in April 2019 a 53% decrease. During the 12 months ending April 30, 2020, sales in this category increased 4% over the same time period in 2019 (413 vs 398).

NEW LISTINGS / INVENTORY •

During the 12 months ending April 30, 2020, a total of 10,746 new listings were added to the market, this is an 8% decrease vs the same time period 12 months ending April 30, 2019.

•

Available inventory as of April 30, 2020 consisted of 4,703 units, a decrease of 23% vs the same time period in 2019. 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 $650,162, a decrease of 3% vs the same time period in 2019.

•

The median sales price for the area increased 3% to $413,279 vs 2019.

NAPLES, BONITA SPRINGS AND ESTERO – CONDOMINIUMS CLOSED SALES •

The number of closed sales in the 12 months ending April 30, 2020 for the Naples, Bonita Springs and Estero Area increased 4% year-over-year (6,022 vs 5,807).

•

There were 7 closed sales priced above two million compared to 26 in April 30, 2019, a 73% decrease. During the 12 months ending April 30, 2020, sales in this category increased 10% vs the same time period in 2019 (159 vs 144 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending April 30, 2020, a total of 8,042 new listings were added to the market, a 12% decrease vs the same time period 12 months ending April 30, 2019.

•

Available inventory as of April 30, 2020 consisted of 3,636 units, a decrease of 27% vs the same time period in 2019. 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 $416,728, an increase of 3% vs the same time period in 2019.

•

The median sales price for the area increased 2% to $260,000 vs 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.

MANAGED BY

REAL ESTATE

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 April 30, 2020 for the luxury market from Port Royal to Bonita Beach Road Area increased 2% year-over-year (384 vs 375).

NEW LISTINGS / INVENTORY •

During the 12 months ending April 30, 2020, a total of 612 new listings were added to the market, this is an 8% decrease compared to the same time period 12 months ending April 30, 2019.

•

Available inventory as of April 30, 2020 consisted of 410 units, a decrease of 18% vs the same time period in 2019. Current inventory represents 17 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $3,483,453, which decreased 15% vs the same time period in 2019.

•

The median sales price for the area decreased 17% to $2,165,000 vs 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 April 30, 2020 for the luxury market from Port Royal to Bonita Beach Road Area increased 13% year-over-year (391 vs 347).

NEW LISTINGS / INVENTORY •

During the 12 months ending April 30, 2020, a total of 605 new listings were added to the market, a decrease of 5% vs the same time period 12 months ending April 30, 2019.

•

Available inventory as of April 30, 2020 consisted of 351 units, a 22% decrease vs the same time period in 2019. Current inventory represents 15 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $2,030,868, remaining relatively the same with an increase of 1% vs the same time period in 2019.

•

The median sales price for the area decreased 21% to $1,437,500 vs 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.

MANAGED BY

REAL ESTATE

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

New Listings

10,000

2016 ---------------- 11,290 2017 ---------------- 11,394 2018 ---------------- 10,895 2019 ---------------- 11,650 2020 --------------- 10,748

8,000

6,000

Closed Units

4,000

2016 ---------------- 6,802 2017 ---------------- 6,830 2018 ----------------- 6,847 2019 ---------------- 7,057 2020 --------------- 7,877

2,000

0 2016

2017

2018

2019

2020

Naples, Bonita Springs and Estero - Condominiums 10,000

New Listings 2016 ----------------- 8,778 2017 ----------------- 9,017 2018 ----------------- 8,893 2019 ----------------- 9,131 2020 ----------------- 8,043

8,000

6,000

Closed Units

4,000

2016 ----------------- 5,765 2017 ----------------- 5,425 2018 ----------------- 5,601 2019 ----------------- 5,807 2020 ----------------- 6,022

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.

MANAGED BY

REAL ESTATE

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

$644K

$500,000

$652K

$673K

$650K

$604K

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

2016

$500,000

2017

2018

2019

2020

Naples, Bonita Springs and Estero - Condominiums

$400,000

$420K $380K

$405K

$386K

$417K

$300,000

$200,000

$100,000

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.

MANAGED BY

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 2016 -----------------2017 -----------------2018 -----------------2019 -----------------2020 ------------------

700 600

685 660 631 665 612

500 400

Closed Units 300

2016 ------------------ 343 2017 ------------------ 312 2018 ------------------ 336 2019 ------------------ 375 2020 ------------------ 384

200

0

700

2016

2017

2018

2019

2020

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

600

New Listings

500

2016 ------------------ 566 2017 ------------------ 577 2018 ------------------ 642 2019 ------------------ 636 2020 ------------------ 605

400

300

Closed Units 2016 ------------------ 325 2017 ------------------ 295 2018 ------------------ 471 2019 ------------------ 347 2020 ------------------ 391

200

100

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.

MANAGED BY

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

$3.734M $3.348M

$3.483M $3.248M $3.111M

$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

$1.948M

$1.952M

$1.859M

2016

2017

2018

$2.012M

$2.031M

2019

2020

$1,500,000

$1,000,000

$500,000

0

* 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.

MANAGED BY

REAL ESTATE

Neighborhood Snapshot Report Naples, Bonita Springs and Estero Market Area

Single Family Properties Monthly Snapshot as of April 30, 2020

ACTIVE LISTINGS

Aqualane Shores

25 | -10.7%

Audubon Barefoot Beach

CLOSED PAST 12 MONTHS

MONTHS OF SUPPLY

AVERAGE CLOSED PRICE

22 | -4.3%

12.3 | -3.9%

$5,523,818 | +17.5%

34 | +17.2%

21 | -22.2%

18.3 | +45.2%

21 | 0.0%

16 | -20.0%

7.7 | -31.9%

$3,455,938 | -31.5%

Bonita Bay

24 | +71.4%

20 | +53.8%

13.0 | +91.2%

$2,488,075 | -26.8%

The Brooks

3 | -62.5%

12 | +50.0%

2.5 | -53.7%

$464,735 | -0.6% $1,461,327 | +20.1%

$1,149,976 | +17.2%

Colliers Reserve

14 | -6.7%

15 | -6.3%

9.4 | +22.1%

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

87 | -9.4%

112 | +10.9%

9.4 | -13.8%

$2,045,039 | -1.5%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

25 | -7.4%

36 | +24.1%

8.8 | +2.3%

$3,467,104 | -0.3%

8 | -52.9%

3.8 | +2.7%

$696,875 | -6.2%

46 | +15.0%

13.7 | +17.1%

$2,553,329 | +12.6%

13 | -23.5%

5.1 | -21.5%

$825,846 | -16.6%

119 | +26.6%

10.4 | -10.3%

$664,025 | +5.9%

Crossings

6 | -14.3%

Grey Oaks

50 | 0.0%

Kensington

10 | -28.6%

Lely Resort

90 | -15.1%

Mediterra

58 | +3.6%

41 | -8.9%

13.1 | -18.1%

$2,263,703 | -1.1%

Monterey

12 | -33.3%

24 | -4.0%

5.1 | -13.6%

$747,641 | -7.4%

Olde Naples

68 | -26.9%

68 | -26.9%

10.8 | -39.3%

$3,825,423 | -5.7%

Palmira Golf & Country Club

23 | -20.7%

49 | +58.1%

6.9 | -22.5%

$591,990 | +4.2%

Pelican Bay

44 | +4.8%

51 | -7.3%

10.4 | +13.0%

$2,444,658 | -13.0%

Pelican Landing

36 | -10.0%

56 | +5.7%

7.2 | -35.7%

$765,105 | -5.1%

The Colony At Pelican Landing

13 | 0.0%

8 | +33.3%

12.9 | 0.0%

$1,583,000 | -8.8%

Pelican Marsh

36 | +5.9%

54 | +50.0%

9.3 | +1.1%

$1,018,005 | -17.3%

Pelican Sound

1 | 0.0%

7 | -22.2%

1.0 | +25.0%

$691,429 | +16.4%

Pine Ridge

39 | +14.7%

34 | +3.0%

12.9 | +20.6%

$2,087,806 | +40.2%

Port Royal

48 | -7.7%

32 | -15.8%

14.5 | -8.8%

$10,168,320 | +8.2%

Quail Creek

15 | -37.5%

28 | +7.7%

Quail West

53 | -23.2%

50 | -21.9%

11.9 | -12.5%

$1,947,578 | +2.5%

Royal Harbor

32 | +14.3%

30 | +15.4%

11.3 | +13.0%

$2,368,033 | +11.8%

16 | +700.0%

3.6 | -37.9%

$1,563,688 | -40.5%

Tiburon

8 | -11.1%

6.4 | -40.2%

$1,088,711 | -1.9%

Vanderbilt Beach

33 | +10.0%

33 | +26.9%

11.9 | +2.6%

$1,763,101 | -7.1%

Vineyards

40 | -33.3%

64 | -14.7%

7.0 | -36.9%

$708,580 | +14.5%

22 | +10.0%

16 | -27.3%

11.9 | +54.5%

$1,151,415 | -6.8%

West Bay Club

* 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.

MANAGED BY

REAL ESTATE

Neighborhood Snapshot Report Naples, Bonita Springs and Estero Market Area

Condominiums Monthly Snapshot as of April 30, 2020 Barefoot Beach Bonita Bay

ACTIVE LISTINGS

CLOSED PAST 12 MONTHS

7 | 0.0%

16 | -5.9%

85 | -6.6%

122 | -8.3%

MONTHS OF SUPPLY

AVERAGE CLOSED PRICE

3.3 | -31.3%

$1,666,094 | +6.3%

7.9 | -11.2%

$752,276 | -2.7%

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

52 | 0.0%

75 | -19.4%

9.1 | +31.9%

$386,295 | -4.0%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

215 | -6.9%

294 | +1.0%

8.5 | -13.3%

$1,370,288 | +8.2%

The Dunes

23 | -52%

43 | +39%

11 | +83%

Grey Oaks Kensington Lely Resort Mediterra Monterey

$1,068,575 | -11%

5 | -50.0%

11 | -21.4%

3.5 | -44.4%

$813,273 | -24.0%

13 | -23.5%

11 | -59.3%

7.4 | -1.3%

$465,045 | +4.7%

191 | +24.0%

7.6 | -30.9%

$316,775 | +3.5%

15 | -11.8%

13.3 | +129.3%

$576,789 | +4.4%

0.8 | -38.5%

$300,000 | -6.9%

115 | -16.1% 19 | +58.3% 1 | 0.0%

2 | -33.3%

89 | -12.7%

127 | +27.0%

9.2 | -17.1%

$965,802 | -7.0%

15 | -6.3%

23 | +21.1%

7.2 | +5.9%

$325,603 | +1.2%

Pelican Bay

197 | +4.8%

276 | +4.9%

9.0 | +5.9%

$1,337,965 | +8.0%

Pelican Landing

38 | -20.8%

83 | +29.7%

5.3 | -45.4%

$343,197 | +6.0%

Pelican Marsh

52 | -11.9%

86 | +16.2%

7.4 | -16.9%

$366,411 | -6.7%

Olde Naples Palmira Golf & Country Club

Pelican Sound

7 | -76.7%

67 | +17.5%

1.3 | -76.4%

$299,100 | -5.0%

Pine Ridge

8 | -33.3%

19 | +58.3%

4.8 | -40.7%

$210,789 | +2.2%

21 | -22.2%

38 | -24.0%

6.2 | -22.5%

$790,122 | -1.1%

Tiburon Vanderbilt Beach

90 | -3.2%

100 | +7.5%

11.2 | -1.8%

$847,833 | -3.4%

Vineyards

73 | -34.2%

132 | +2.3%

6.8 | -38.2%

$342,055 | -9.7%

West Bay Club

10 | +11.1%

26 | +30.0%

4.5 | +32.4%

$478,173 | -21.1%

* 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.

MANAGED MANAGED BY BY RREEA ALL EESSTTA ATTEE

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 Associate 203.858.4429 jeanne.lesch@raveis.com

Office Hours Monday - Friday 9AM-5PM Saturday 10AM-5PM Sunday 12PM-5PM 2394 Grey Oaks Drive North Naples, FL 34105 239.276.7103 realestate.greyoakscc.com