William Raveis Real Estate Dustin Beard Luxury Market Report October 2022

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NAPLES BONITA SPRINGS LUXURY PROPERTIES MARKET REPORT OCTOBER 2022


NAPLES & BONITA SPRI NG S Single-Family Properties

CLOSED SALES •

The number of closed sales in the 12 months ending October 31, 2022 for the Naples and Bonita Springs Area decreased 28% year-over-year (7,538 vs 10,421).

There were 51 closed sales priced above two million in October 2022 compared to 40 in October 2021; a 28% increase. During the 12 months ending October 31, 2022, sales in this category decreased 59% over the same time period in 2021 (821 vs 1,993 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending October 31, 2022, a total of 9,744 new listings were added to the market, this is a 6% decrease vs the same time period 12 months ending October 31, 2021.

Available inventory as of October 31, 2022 consisted of 2,671 units, an increase of 17% vs the same time period in 2021. Current inventory represents 6 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $1,140,992, an 18% increase vs the same time period in 2021.

The median sales price for the area in October 2022 increased 22% to $715,000 vs October 2021.

*Source of this market data: Southwest Florida MLS © 2022. 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 SPRI NG S Condominiums

CLOSED SALES •

The number of closed sales in the 12 months ending October 31, 2022 for the Naples and Bonita Springs Area decreased 35% year-over-year (5,934 vs 9,131).

There were 14 closed sales priced above two million in October 2022 compared to 15 in October 2021, a 7% decrease. During the 12 months ending October 31, 2022, sales in this category increased 4% vs the same time period in 2021 (357 vs 343 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending October 31, 2022, a total of 6,926 new listings were added to the market, a 14% decrease vs the same time period 12 months ending October 31, 2021.

Available inventory as of October 31, 2022 consisted of 1,524 units, an increase of 17% vs the same time period in 2021. Current inventory represents 5 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $696,540, a 28% increase vs the same time period in 2021.

The median sales price for the area in October 2022 increased 19% to $425,000 vs October 2021.

*Source of this market data: Southwest Florida MLS © 2022. 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.


P O RT ROYA L t o B O N I TA B E AC H ROAD AREA Single-Family Properties LUXURY MARKET $1M+ (WEST OF 41)

CLOSED SALES •

The number of closed sales in the 12 months ending October 31, 2022 for the luxury market from Port Royal to Bonita Beach Road Area decreased 39% year-over-year (428 vs 701).

NEW LISTINGS / INVENTORY •

During the 12 months ending October 31, 2022, a total of 724 new listings were added to the market, a decrease of 9% compared to the same time period 12 months ending October 31, 2021.

Available inventory as of October 31, 2022 consisted of 294 units, a 52% increase vs the same time period in 2021 (294 vs 193). 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 $5,369,901 an increase of 15% vs the same time period in 2021.

The median sales price for the area in October 2022 decreased 12% to $2,650,000 vs October 2021.

*Source of this market data: Southwest Florida MLS © 2022. 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.


P O RT ROYA L t o B O N I TA B E AC H ROAD AREA Condominiums LUXURY MARKET $1M+ (WEST OF 41)

CLOSED SALES •

The number of closed sales in the 12 months ending October 31, 2022 for the luxury market from Port Royal to Bonita Beach Road Area decreased 21% year-over-year (626 vs 797).

NEW LISTINGS / INVENTORY •

During the 12 months ending October 31, 2022, a total of 710 new listings were added to the market, a decrease of 7% vs the same time period 12 months ending October 31, 2021.

Available inventory as of October 31, 2022 consisted of 180 units, a 5% decrease vs the same time period in 2021 (180 vs 190). 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 $2,510,242, increasing 11% vs the same time period in 2021.

The median sales price for the area in October 2022 increased 26% to $1,890,000 vs October 2021.

*Source of this market data: Southwest Florida MLS © 2022. 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 SPRI NG S YEAR-OVER-YEAR MARKET TRENDS Single-Family Properties Average Sales Price

New Listings

Closed Units

$1,140,992 $970,575

$693,526 10,449

$725,575

$683,850

10,408

10,294

10,421

10,371

9,744

8,056

2018

7,538

6,640

6,226

2019

2020

2021

2022

YEAR-OVER-YEAR MARKET TRENDS Condominium Properties Average Sales Price

New Listings

Closed Units

$696,540

$543,629 $438,966

8,479

$436,549

8,304

8,141 5,192

2018

$478,143

5,303

2019

8,095

9,131

5,677

2020

2021

6,926

5,934

2022

*Source of this market data: Southwest Florida MLS © 2022. 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.


P O RT ROYA L t o B O N I TA BEACH ROAD AREA YEAR-OVER-YEAR MARKET TRENDS Single-Family Properties Average Sales Price

New Listings

Closed Units

$5,369,901 $4,650,404 $3,929,075 $3,436,482

$3,362,216

658

695

641

701

666

724

463

428

364

357

2018

2019

2020

2021

2022

YEAR-OVER-YEAR MARKET TRENDS Condominium Properties Average Sales Price

New Listings

Closed Units

$2,510,242 $2,116,276 $1,931,582

$2,093,575

774

659

2018

710

626

493

363

2019

797

763

619 439

$2,263,286

2020

2021

2022

*Source of this market data: Southwest Florida MLS © 2022. 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 SNAP SHOT REP ORT Single-Family Properties Active Listings

% Change

Closed Past 12 Months

% Change

Months Of Supply

% Change

Average Closed Price

% Change

Aqualane Shores

15

114%

17

-70%

4.6

48%

$9,212,941

50%

Bonita Bay

3

-70%

45

-54%

0.9

-55%

$2,175,628

30%

Collier’s Reserve

1

0%

13

-28%

0.8

100%

$2,214,692

41%

Grey Oaks

9

29%

40

-50%

2.3

53%

$4,709,450

63%

Isles of Collier Preserve

15

150%

41

-53%

1.6

78%

$2,286,451

81%

Kensington

2

-

16

-11%

0.6

-14%

$1,267,197

25%

Lely Resort

24

243%

92

-59%

1.4

36%

$1,312,255

61%

Mediterra

14

75%

41

-55%

2.0

-9%

$3,314,829

42%

Monterey

6

-

16

-52%

1.2

-14%

$1,287,562

30%

Naples Park

69

138%

220

-15%

2.5

92%

$968,005

59%

Naples Reserve

20

233%

61

-53%

1.5

67%

$1,234,974

51%

Olde Naples

27

29%

53

-51%

3.4

17%

$7,679,053

65%

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

44

47%

76

-56%

4.5

73%

$4,130,603

44%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

31

121%

29

-19%

6.0

114%

$6,681,552

43%

Pelican Bay

9

0%

40

-54%

1.5

-29%

$4,703,175

26%

Pelican Landing

4

33%

48

-43%

1.1

0%

$1,369,094

53%

Pelican Marsh

6

100%

39

-60%

1.0

-23%

$2,008,654

24%

Pine Ridge

17

113%

23

-52%

5.4

116%

$5,015,935

65%

Port Royal

13

86%

25

-60%

3.7

23%

$19,914,303

66%

Quail Creek

11

267%

28

-24%

2.2

16%

$2,142,071

40%

Quail West

12

71%

44

-47%

1.8

29%

$4,035,159

52%

Royal Harbor

14

17%

25

-46%

3.8

90%

$5,117,280

63%

The Colony At Pelican Landing

0

-100%

6

-73%

0.2

-87%

$2,482,500

57%

Tiburon

1

-

9

-44%

0.7

-22%

$2,911,556

30%

Vanderbilt Beach

19

280%

22

-55%

3.5

75%

$3,812,686

44%

Vineyards

13

30%

62

-28%

1.7

55%

$1,197,867

37%

Neighborhood

*Source of this market data: Southwest Florida MLS © 2022. 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 SNAP SHOT REP ORT Condominiums Neighborhood

Active Listings

% Change

Closed Past 12 Months

% Change

Months Of Supply

% Change

Average Closed Price

% Change

Bonita Bay

14

-44%

138

-31%

1.0

-58%

$1,209,135

22%

Grey Oaks

0

-100%

17

-11%

0.5

-44%

$1,832,059

74%

Isles of Collier Preserve

6

200%

43

-16%

1.0

-9%

$959,822

64%

Kensington

3

200%

15

-60%

0.7

-75%

$753,133

55%

Lely Resort

21

5%

187

-33%

0.9

-53%

$516,509

52%

Mediterra

2

0%

21

-38%

1.2

-25%

$1,211,810

91%

Olde Naples

19

-37%

131

-40%

1.8

-53%

$1,564,066

39%

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

23

283%

94

-37%

1.5

-25%

$639,109

10%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

34

26%

284

-41%

1.3

-46%

$2,248,966

36%

Pelican Bay

37

85%

283

-44%

0.9

-53%

$1,817,837

28%

Pelican Landing

4

33%

58

-43%

0.6

-33%

$531,752

36%

Pelican Marsh

3

50%

61

-52%

0.7

-36%

$763,123

64%

The Dunes of Naples

8

60%

32

-54%

1.3

-28%

$1,918,274

55%

Tiburon

4

300%

28

-56%

1.1

-27%

$1,160,696

30%

Vanderbilt Beach

15

15%

100

-50%

1.5

-42%

$1,437,216

20%

Vineyards

11

83%

114

-32%

1.1

-27%

$605,716

40%

*Source of this market data: Southwest Florida MLS © 2022. 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.


KEY

S OU TH WE ST FL O R I DA COMM U NI T Y GU I D E

GOLF COURSE 18 holes 27 holes 36 holes

- City of Naples - North Naples (North of Pine Ridge Road) - South Naples (South of Pine Ridge Road) - Bonita Springs

54 holes 90 holes PRICE RANGE

$

Dominant price less than $500K

$$

Dominant price $500K to $1M

$$$

Dominant price over $1M

Neighborhood

Single-Family

Condominium

Golf Course

AQUALANE SHORES City of Naples

Boating*

Clubhouse

Tennis

Gated** Price Range

$$$

BONITA BAY Bonita Springs

90

$$$

COLLIER’S RESERVE North Naples

18

$$$

GREY OAKS South Naples & City of Naples

54

$$$

ISLE OF COLLIER PRESERVE South Naples

$$

KENSINGTON South Naples

18

$$

LELY RESORT South Naples

54

$

MEDITERRA North Naples

36

$$$

MONTEREY North Naples MOORINGS & COQUINA SANDS City of Naples

$$ 18

$$$

*Many properties are boating oriented (have a dock or has a community dock/marina). **May or may not be manned by a security guard.

*Source of this market data: Southwest Florida MLS © 2022. 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

Single-Family

Condominium

Golf Course

NAPLES PARK North Naples

Boating*

Clubhouse

Tennis

Gated** Price Range

$$

NAPLES RESERVE South Naples

$

OLD NAPLES City of Naples

$$$

PARK SHORE City of Naples

$$$

PELICAN BAY North Naples

27

$$$

PELICAN LANDING Bonita Springs

54

$

PELICAN MARSH North Naples

18

$$$

PINE RIDGE North Naples

$$$

PORT ROYAL City of Naples

$$$

QUAIL CREEK North Naples

18

$$$

QUAIL WEST North Naples

36

$$$

ROYAL HARBOR City of Naples THE COLONY AT PELICAN LANDING Bonita Springs

$$$ 54

THE DUNES OF NAPLES North Naples TIBURON GOLF CLUB North Naples

$$$ 36

VANDERBILT BEACH AREA North Naples VINEYARDS North Naples

$$

$$$ $$$

36

$$

*Many properties are boating oriented (have a dock or has a community dock/marina). **May or may not be manned by a security guard.

*Source of this market data: Southwest Florida MLS © 2022. 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.


239.289.2650 DustinBeard.com Dustin@DustinBeard.com

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