LUXURY PROPERTIES MARKET REPORT
JULY 2023
NAPLES BONITA SPRINGS
NAPLES & BONITA SPRINGS
Single-Family Properties
CLOSED SALES
• The number of closed sales in the 12 months ending July 31, 2023 for the Naples and Bonita Springs Area decreased 23% year-over-year (6,368 vs 8,236).
• There were 49 closed sales priced above two million in July 2023 compared to 45 in July 2022; a 9% increase. During the 12 months ending July 31, 2023, sales in this category increased 12% over the same time period in 2022 (821 vs 731 units).
NEW LISTINGS / INVENTORY
• During the 12 months ending July 31, 2023, a total of 8,784 new listings were added to the market, this is a 14% decrease vs the same time period 12 months ending July 31, 2022.
• Available inventory as of July 31, 2023 consisted of 2,679 units, a decrease of 3% vs the same time period in 2022. 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 $1,168,679, a 7% increase vs the same time period in 2022.
• The median sales price for the area in July 2023 increased 8% to $711,250 vs July 2022.
*Source of this market data: Southwest Florida MLS © 2023. 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 SPRINGS
Condominiums
CLOSED SALES
• The number of closed sales in the 12 months ending July 31, 2023 for the Naples and Bonita Springs Area decreased 27% year-over-year (4,729 vs 6,506).
• There were 13 closed sales priced above two million in July 2023 compared to 10 in July 2022; a 30% increase. During the 12 months ending July 31, 2023, sales in this category increased 13% over the same time period in 2022 (424 vs 375 units).
NEW LISTINGS / INVENTORY
• During the 12 months ending July 31, 2023, a total of 6,213 new listings were added to the market, a 16% decrease vs the same time period 12 months ending July 31, 2022.
• Available inventory as of July 31, 2023 consisted of 1,906 units, an increase of 12% vs the same time period in 2022. 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 $799,847, a 19% increase vs the same time period in 2022.
• The median sales price for the area in July 2023 increased 4% to $430,000 vs July 2022.
*Source of this market data: Southwest Florida MLS © 2023. 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 Broker in the World
by Luxury Portfolio International | 2018
William Raveis is honored to be recognized as the #1 Luxury Broker in the World by Luxury Portfolio International in 2018
550 COMPANIES | 4,300 OFFICES
135,000 ASSOCIATES 1 WINNER
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PORT ROYAL to BONITA BEACH ROAD AREA
Single-Family Properties
LUXURY MARKET $1M+ (WEST OF 41)
CLOSED SALES
• The number of closed sales in the 12 months ending July 31, 2023 for the luxury market from Port Royal to Bonita Beach Road Area decreased 19% year-over-year (371 vs 458).
NEW LISTINGS / INVENTORY
• During the 12 months ending July 31, 2023, a total of 802 new listings were added to the market, an increase of 20% compared to the same time period 12 months ending July 31, 2022.
• Available inventory as of July 31, 2023 consisted of 328 units, a 27% increase vs the same time period in 2022 (328 vs 259). Current inventory represents 10 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE
• The year-over-year average sales price for the area was $4,809,709 a decrease of 10% vs the same time period in 2022.
• The median sales price for the area in July 2023 decreased 41% to $2,751,538 vs July 2022.
*Source of this market data: Southwest Florida MLS © 2023. 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.
PORT ROYAL to BONITA BEACH ROAD AREA
Condominiums
LUXURY MARKET $1M+ (WEST OF 41)
CLOSED SALES
• The number of closed sales in the 12 months ending July 31, 2023 for the luxury market from Port Royal to Bonita Beach Road Area decreased 6% year-over-year (621 vs 659).
NEW LISTINGS / INVENTORY
• During the 12 months ending July 31, 2023, a total of 905 new listings were added to the market, an increase of 21% vs the same time period 12 months ending July 31, 2022.
• Available inventory as of July 31, 2023 consisted of 294 units, a 44% increase vs the same time period in 2022 (294 vs 204). 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 $2,438,897, decreasing 4% vs the same time period in 2022.
• The median sales price for the area in July 2023 decreased 40% to $1,575,000 vs July 2022.
*Source of this market data: Southwest Florida MLS © 2023. 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 SPRINGS
*Source of this market data: Southwest Florida MLS © 2023. 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.
YEAR-OVER-YEAR MARKET TRENDS
Single-Family Properties Average Sales Price New Listings Closed Units
Condominium Properties Average Sales Price New Listings Closed Units 10,321 10,087 10,888 10,159 8,784 6,499 7,124 10,918 8,236 6,368 $688,553 $681,943 $937,358 $1,090,332 $1,168,679 2019 2020 2021 2022 2023 8,224 7,898 8,854 7,353 6,213 5,229 5,102 9,361 6,506 4,729 $436,365 $433,296 $544,254 $674,021 $799,847 2019 2020 2021 2022 2023
YEAR-OVER-YEAR MARKET TRENDS
PORT ROYAL to BONITA BEACH ROAD AREA
*Source of this market data: Southwest Florida MLS © 2023. 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 New Listings Closed Units Average Sales Price New Listings Closed Units
YEAR-OVER-YEAR MARKET TRENDS Single-Family Properties YEAR-OVER-YEAR MARKET TRENDS Condominium Properties 649 656 734 671 802 370 373 759 458 371 $3,775,421 $3,600,013 $4,308,325 $5,365,002 $4,809,709 2019 2020 2021 2022 2023 630 678 851 748 905 362 337 902 659 621 $2,109,208 $2,046,542 $2,194,219 $2,537,932 $2,438,897 2019 2020 2021 2022 2023
In U.S. Home Sales
William Raveis is a member of Leading Real Estate Companies of the World, an invitation-only network and home of the world’s market-leading independent residential brokerages.
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COMMUNITY SNAPSHOT REPORT
Single-Family Properties
*Source of this market data: Southwest Florida MLS © 2023. 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 Active Listings Closed Past 12 Months Average Closed Price Months Of Supply % Change % Change % Change % Change Aqualane Shores 24 33% 15 -17% 10.7 224% $9,446,500 9% Bonita Bay 11 120% 45 -2% 3.0 275% $2,198,239 6% Collier’s Reserve 0 -100% 13 44% 1.8 260% $2,491,923 19% Grey Oaks 12 -8% 33 -18% 4.0 150% $3,879,106 -16% Isles of Collier Preserve 17 70% 48 9% 6.7 570% $2,212,209 8% Kensington 2 -33% 22 38% 1.1 120% $1,636,211 41% Lely Resort 16 -45% 92 -9% 2.8 133% $1,384,644 14% Mediterra 12 9% 31 -35% 4.3 231% $3,860,484 24% Monterey 2 -50% 14 -18% 2.4 243% $1,480,714 22% Naples Park 80 0% 117 -53% 6.6 247% $1,041,013 16% Naples Reserve 15 25% 52 -27% 4.3 330% $1,361,796 18% Olde Naples 30 50% 46 -19% 7.6 153% $7,399,087 2% Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront 48 2% 96 22% 8.0 135% $3,643,985 -9% Park Shore/Moorings/ Seagate/Coquina Sands Waterfront 22 -4% 27 -23% 11.1 114% $4,785,096 -26% Pelican Bay 19 171% 32 -29% 5.0 257% $3,867,991 -11% Pelican Landing 9 50% 46 12% 1.9 111% $1,419,761 4% Pelican Marsh 7 0% 33 -15% 2.7 350% $2,142,621 -6% Pine Ridge 18 -14% 25 4% 6.7 72% $6,066,080 25% Port Royal 28 100% 22 -8% 9.8 238% $18,046,230 -7% Quail Creek 6 -25% 16 -50% 3.2 113% $2,265,863 10% Quail West 15 36% 31 -30% 4.9 250% $4,195,293 11% Royal Harbor 12 50% 23 -8% 7.3 109% $4,533,849 -7% The Colony At Pelican Landing 1 - 9 29% 0.7 133% $2,540,556 10% Tiburon 2 100% 7 -42% 2.7 286% $4,052,857 45% Vanderbilt Beach 20 54% 15 -44% 11.2 348% $3,666,373 -2% Vineyards 6 -60% 46 39% 1.5 0% $1,312,685 17%
*Source of this market data: Southwest Florida MLS © 2023. 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
Condominiums Neighborhood Active Listings Closed Past 12 Months Average Closed Price Months Of Supply % Change % Change % Change % Change Bonita Bay 33 175% 110 -33% 3.1 210% $2,069,554 78% Grey Oaks 0 -100% 9 -44% 0.3 -50% $2,135,444 26% Isles of Collier Preserve 14 100% 46 15% 3.3 313% $867,312 -7% Kensington 1 0% 16 0% 1.3 117% $791,094 12% Lely Resort 29 26% 123 -39% 2.6 225% $572,163 16% Mediterra 4 0% 12 -50% 2.1 133% $1,551,667 44% Olde Naples 31 11% 94 -33% 4.1 128% $1,776,790 18% Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront 50 108% 67 -37% 5.2 420% $635,175 -3% Park Shore/Moorings/ Seagate/Coquina Sands Waterfront 94 100% 192 -34% 4.5 309% $2,334,613 7% Pelican Bay 65 76% 241 -26% 3.0 329% $1,886,682 5% Pelican Landing 8 33% 59 200% 1.6 167% $583,441 13% Pelican Marsh 7 75% 57 -21% 1.5 200% $800,149 16% The Dunes of Naples 7 40% 19 -50% 4.6 475% $1,924,737 9% Tiburon 7 17% 26 -21% 2.6 271% $1,502,500 24% Vanderbilt Beach 38 100% 42 -65% 6.4 433% $1,489,379 5% Vineyards 14 -44% 48 -31% 2.0 82% $704,167 15%
SNAPSHOT REPORT
SOUTHWEST FLORIDA COMMUNITY GUIDE
- City of Naples
- North Naples (North of Pine Ridge Road)
- South Naples (South of Pine Ridge Road)
- Bonita Springs
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
18 holes
27 holes
36 holes
54 holes 90 holes
Dominant price less than $1M
Dominant price $1M to $2M
Dominant price over $2M
$ $$ $$$
$$$
$$$
$$$
$$ $$
$
$$ $$$
MONTEREY North Naples
& COQUINA SANDS City of Naples
MEDITERRA North Naples
MOORINGS
GOLF COURSE KEY
PRICE RANGE
18
54
36
18
54
18
90
*Source of this market data: Southwest Florida MLS © 2023. Accuracy of this information is reliable but not guaranteed. Anyone who chooses to use this information to make market decisions should have this data independently verified.
$$$
$$
Neighborhood Golf Course Clubhouse Tennis Gated** Price Range Boating* Single-Family Condominium
*Many properties are boating oriented (have a dock or has a community dock/marina). **May or may not be manned by a security guard.
Neighborhood Golf Course Clubhouse Tennis Gated** Price Range Boating* Single-Family Condominium NAPLES PARK North Naples NAPLES RESERVE South Naples OLD NAPLES City of Naples PARK SHORE City of Naples PELICAN BAY North Naples PELICAN LANDING Bonita Springs PELICAN MARSH North Naples PINE RIDGE North Naples PORT ROYAL City of Naples QUAIL CREEK North Naples QUAIL WEST North Naples ROYAL HARBOR City of Naples THE COLONY AT PELICAN LANDING Bonita Springs THE DUNES OF NAPLES North Naples TIBURON GOLF CLUB North Naples VANDERBILT BEACH AREA North Naples VINEYARDS North Naples $$ $$$ $$$ $$$ $ $$$ $$ $$$ $$$ $$$ $$ $$ $ $ 36 $$$ 27 $$$ $$$ 36 18 36 36 36 18 *Source of this market data: Southwest Florida MLS © 2023. 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.
*Many properties are boating oriented (have a dock or has a community dock/marina). **May or may not be manned by a security guard.
NY RI CT MA VT NH ME #1 Independent Luxury Broker, in Florida and the Northeast1 #1 Luxury Broker by Luxury Portfolio International | 2018 #1 Luxury Lifestyle Award Winner | 20222 #1 Overall Winner of HGTV’s 2022 Ultimate House Hunt #1 Average Sales Price in Naples, FL3 #1 Market Share in Port Royal and Grey Oaks4 Number One Luxury Broker
1/1/2022
12/13/2022. 4.
REALTORS®
1/1/2022 - 1/1/2023. Non-MLS
not included in these tabulations. FL
1. William Raveis is the largest independent brokerage by total sales volume ($21.5 billion) according to RISMedia, 2021. 2. Winner of Best Luxury Real Estate Agency Award in FL, CT & MA in 2022 by Luxury Lifestyle Awards. 3. William Raveis has the highest average sales price per property of the five largest brokerages in the Naples Area according to the Naples Area Board of REALTORS® for the time period
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According to the Naples Area Board of
for
the
time period
listings are