William Raveis Real Estate Dustin Beard Luxury Market Report March 2023

NAPLES BONITA SPRINGS LUXURY PROPERTIES MARKET REPORT MARCH 2023

NAPLES & BONITA SPRI NG S Single-Family Properties

CLOSED SALES •

The number of closed sales in the 12 months ending March 31, 2023 for the Naples and Bonita Springs Area decreased 27% year-over-year (6,783 vs 9,342).

•

There were 92 closed sales priced above two million in March 2023 compared to 95 in March 2022; a 3% decrease. During the 12 months ending March 31, 2023, sales in this category decreased 11% over the same time period in 2022 (799 vs 894 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending March 31, 2023, a total of 9,736 new listings were added to the market, this is a 2% decrease vs the same time period 12 months ending March 31, 2022.

•

Available inventory as of March 31, 2023 consisted of 3,294 units, an increase of 25% vs the same time period in 2022. 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 $1,180,101, a 15% increase vs the same time period in 2022.

•

The median sales price for the area in March 2023 increased 5% to $725,000 vs March 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 SPRI NG S Condominiums

CLOSED SALES •

The number of closed sales in the 12 months ending March 31, 2023 for the Naples and Bonita Springs Area decreased 33% year-over-year (5,213 vs 7,784).

•

There were 45 closed sales priced above two million in March 2023 compared to 43 in March 2022, a 5% increase. During the 12 months ending March 31, 2023, sales in this category increased 27% over the same time period in 2022 (451 vs 354 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending March 31, 2023, a total of 6,757 new listings were added to the market, a 10% decrease vs the same time period 12 months ending March 31, 2022.

•

Available inventory as of March 31, 2023 consisted of 2,472 units, an increase of 26% vs the same time period in 2022. 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 $787,949, a 29% increase vs the same time period in 2022.

•

The median sales price for the area in March 2023 increased 7% to $480,000 vs March 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.

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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 March 31, 2023 for the luxury market from Port Royal to Bonita Beach Road Area decreased 23% year-over-year (427 vs 555).

NEW LISTINGS / INVENTORY •

During the 12 months ending March 31, 2023, a total of 861 new listings were added to the market, an increase of 41% compared to the same time period 12 months ending March 31, 2022.

•

Available inventory as of March 31, 2023 consisted of 456 units, a 64% increase vs the same time period in 2022 (456 vs 278). Current inventory represents 12 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $4,881,762 a decrease of 7% vs the same time period in 2022.

•

The median sales price for the area in March 2023 decreased 36% to $3,150,000 vs March 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.

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 March 31, 2023 for the luxury market from Port Royal to Bonita Beach Road Area decreased 10% year-over-year (664 vs 734).

NEW LISTINGS / INVENTORY •

During the 12 months ending March 31, 2023, a total of 883 new listings were added to the market, an increase of 21% vs the same time period 12 months ending March 31, 2022.

•

Available inventory as of March 31, 2023 consisted of 398 units, a 43% increase vs the same time period in 2022 (398 vs 279). 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 $2,524,486, increasing 5% vs the same time period in 2022.

•

The median sales price for the area in March 2023 decreased 24% to $1,605,500 vs March 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 SPRI NG S YEAR-OVER-YEAR MARKET TRENDS Single-Family Properties Average Sales Price

New Listings

Closed Units

$1,180,101 $1,024,650 $836,551 $699,742 10,370

$692,170 10,296

10,105

9,947

9,342

9,736

7,236

6,253

2019

9,556

6,783

2020

2021

2022

2023

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

New Listings

Closed Units

$787,949

$612,826

$417,433 8,259

$444,303

8,526

7,822 5,094

2019

$498,904

7,358

7,479

7,784

5,696

2020

6,757 5,213

2021

2022

2023

*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.

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

$5,247,177

$3,817,946

$4,881,762

$4,042,083 $3,637,054 861

655

718

629

621

612

555 427

410

345

2019

2020

2021

2022

2023

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

New Listings

Closed Units

$2,406,377 $2,002,335

$2,159,091

$2,111,780

883

852 664

617

606

734

729

664

404

323 2019

$2,524,486

2020

2021

2022

2023

*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.

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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

33

200%

15

-63%

8.5

347%

$8,413,333

21%

Bonita Bay

14

250%

39

-49%

2.0

122%

$2,128,519

12%

Collier’s Reserve

0

-100%

11

10%

1.9

1800%

$2,467,727

41%

Grey Oaks

13

160%

38

-21%

3.3

313%

$4,157,684

14%

Isles of Collier Preserve

30

900%

36

-40%

5.1

750%

$2,284,761

42%

Kensington

4

300%

19

36%

1.1

175%

$1,524,613

43%

Lely Resort

18

64%

97

-37%

2.9

383%

$1,402,893

48%

Mediterra

12

200%

41

31%

3.6

300%

$3,806,012

45%

Monterey

7

600%

17

-41%

2.0

400%

$1,393,294

23%

Naples Park

99

230%

162

-36%

4.8

300%

$1,101,625

53%

Naples Reserve

20

82%

56

-43%

3.3

450%

$1,319,354

35%

Olde Naples

39

77%

54

-34%

5.7

171%

$7,838,556

43%

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

78

129%

89

-24%

7.1

223%

$3,680,464

12%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

33

83%

27

-36%

9.9

175%

$4,681,741

-19%

Pelican Bay

19

217%

33

-51%

3.1

139%

$4,560,974

14%

Pelican Landing

7

40%

49

-14%

1.5

200%

$1,390,994

29%

Pelican Marsh

8

700%

32

-49%

2.0

300%

$1,825,172

-3%

Pine Ridge

26

-73%

29

-12%

6.8

224%

$5,609,758

49%

Port Royal

36

350%

23

-26%

7.0

289%

$19,818,481

27%

Quail Creek

9

200%

27

-16%

3.0

173%

$2,145,252

15%

Quail West

20

900%

36

-40%

3.6

300%

$4,318,201

41%

Royal Harbor

19

46%

21

-34%

6.6

175%

$5,040,406

26%

The Colony At Pelican Landing

2

-

9

-31%

0.4

0%

$2,387,778

42%

Tiburon

5

150%

7

-53%

1.9

217%

$3,178,714

16%

Vanderbilt Beach

37

363%

25

-22%

7.9

339%

$4,061,424

27%

Vineyards

10

233%

54

-35%

2.2

144%

$1,338,144

48%

Neighborhood

*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 SNAP SHOT REP ORT Condominiums Neighborhood

Active Listings

% Change

Closed Past 12 Months

% Change

Months Of Supply

% Change

Average Closed Price

% Change

Bonita Bay

47

262%

127

-24%

1.9

90%

$1,804,250

63%

Grey Oaks

1

0%

13

-24%

0.6

100%

$2,049,615

55%

Isles of Collier Preserve

13

333%

38

-14%

2.6

420%

$956,731

29%

Kensington

1

0%

15

-29%

1.2

200%

$832,733

50%

Lely Resort

38

246%

133

-48%

1.8

157%

$564,591

39%

Mediterra

4

100%

18

-36%

1.8

260%

$1,516,056

96%

Olde Naples

46

35%

108

-38%

3.2

60%

$1,678,563

43%

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

39

388%

85

-32%

3.0

275%

$670,426

9%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

104

189%

209

-45%

2.7

200%

$2,392,570

22%

Pelican Bay

76

217%

253

-38%

2.1

250%

$1,940,208

23%

Pelican Landing

6

500%

46

-37%

1.3

333%

$558,054

19%

Pelican Marsh

4

-33%

52

-48%

1.2

200%

$823,998

47%

The Dunes of Naples

13

550%

25

-49%

3.0

275%

$1,988,840

49%

Tiburon

7

250%

23

-54%

2.0

900%

$1,482,370

49%

Vanderbilt Beach

43

169%

58

-68%

2.9

142%

$1,351,517

0%

Vineyards

17

467%

103

-34%

1.7

240%

$649,821

34%

*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.

KEY

S OU THWE 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

Neighborhood

Single-Family

Condominium

54 holes 90 holes PRICE RANGE

Golf Course

AQUALANE SHORES City of Naples

Dominant price less than $1M

$

Dominant price $1M to $2M

$$

Dominant price over $2M

$$$

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 © 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

Single-Family

Condominium

Golf Course

Boating*

Clubhouse

Tennis

Gated** Price Range

NAPLES PARK North Naples

$$

NAPLES RESERVE South Naples

$

OLD NAPLES City of Naples

$$$

PARK SHORE City of Naples

$$$

PELICAN BAY North Naples

27

$$$

PELICAN LANDING Bonita Springs

36

$

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

$$$ 18

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 © 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.

ME VT

NH

MA

NY

CT

RI

FL

Number One Luxury Broker #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

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 1/1/2022 - 12/13/2022. 4. According to the Naples Area Board of REALTORS® for the time period 1/1/2022 - 1/1/2023. Non-MLS listings are not included in these tabulations.