William Raveis Real Estate February 2021 Market Report

MANAGED BY BY MANAGED

FEBRUARY 2021 LUXURY PROPERTIES MARKET REPORT RE EA AL L E ES ST TA AT TE E R

Naples | Bonita Springs

NAPLES AND BONITA SPRINGS – SINGLE FAMILY PROPERTIES CLOSED SALES •

The number of closed sales in the 12 months ending February 28, 2021 for the Naples and Bonita Springs Area increased 29% year-over-year (9,091 vs 7,062).

•

There were 68 closed sales, priced above two million in February 2021 compared to 37 in February 2020, an 84% increase. During the 12 months ending February 28, 2021, sales in this category increased 78% over the same time period in 2020 (695 vs 390).

NEW LISTINGS / INVENTORY •

During the 12 months ending February 28, 2021, a total of 9,964 new listings were added to the market, a decrease of 2% vs the same time period 12 months ending February 29, 2020.

•

Available inventory as of February 28, 2021 consisted of 3,252 units, a decrease of 36% vs the same time period in 2020. Current inventory represents 4.4 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $812,857 a 19% increase vs the same time period in 2020.

•

The median sales price for the area in February 2021 increased 22% to $495,000 vs February 2020.

NAPLES AND BONITA SPRINGS – CONDOMINIUMS CLOSED SALES •

The number of closed sales in the 12 months ending February 28, 2021 for the Naples and Bonita Springs Area increased 20% year-over-year (6,725 vs 5,605).

•

There were 30 closed sales priced above two million compared to 11 in February 2020, a 173% increase. During the 12 months ending February 28, 2021, sales in this category increased 72% vs the same time period in 2020 (258 vs 150 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending February 28, 2021, a total of 8,064 new listings were added to the market, a 2% increase vs the same time period 12 months ending February 29, 2020.

•

Available inventory as of February 28, 2021 consisted of 2,877 units, a decrease of 30% vs the same time period in 2020. Current inventory represents 3.9 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $498,094 an increase of 14% vs the same time period in 2020.

•

The median sales price for the area in February 2021 increased 12% to $297,250 vs February 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 February 28, 2021 for the luxury market from Port Royal to Bonita Beach Road Area increased 48% year-over-year (574 vs 388).

NEW LISTINGS / INVENTORY •

During the 12 months ending February 28, 2021, a total of 663 new listings were added to the market, an increase of 4% compared to the same time period 12 months ending February 29, 2020.

•

Available inventory as of February 28, 2021 consisted of 310 units, a decrease of 33% vs the same time period in 2020 (310 vs 466). 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 $3,922,354, an increase of 9% vs the same time period in 2020.

•

The median sales price for the area in February 2021 increased 26% to $3,470,000 vs February 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 February 28, 2021 for the luxury market from Port Royal to Bonita Beach Road Area increased 59% year-over-year (607 vs 381).

NEW LISTINGS / INVENTORY •

During the 12 months ending February 28, 2021, a total of 762 new listings were added to the market, an increase of 22% vs the same time period 12 months ending February 29, 2020.

•

Available inventory as of February 28, 2021 consisted of 328 units, a 25% decrease vs the same time period in 2020. 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 $2,117,255, remaining relatively the same with a decrease of less than 1% vs the same time period in 2020.

•

The median sales price for the area in February 2021 increased 17% to $1,880,000 vs February 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 ---------------- 10,271 2018 ---------------- 9,553 2019 ---------------- 10,439 2020 ---------------- 10,167

2021 --------------- 9,964

8,000

6,000

Closed Units

4,000

2017 ---------------- 5,929 2018 ---------------- 6,003 2019 ----------------- 6,286 2020 ---------------- 7,062

2021 --------------- 9,091

2,000

0 2017

2018

2019

2020

2021

Naples and Bonita Springs - Condominiums 10,000

New Listings 2017 ----------------- 8,228 2018 ----------------- 7,883 2019 ----------------- 8,392 2020 ----------------- 7,940

2021 ----------------- 8,064

8,000

6,000

Closed Units

4,000

2017 ----------------- 4,853 2018 ----------------- 4,958 2019 ----------------- 5,082 2020 ----------------- 5,605 2021 ----------------- 6,725

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

$813K

$800,000

$600,000

$621K

$665K

2017

2018

$706K

$683K

$400,000

$200,000

$0 2019

2020

2021

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

$800,000

$600,000

$400,000

$396K

$498K

$445K

$421K

$437K

2018

2019

2020

$200,000

$0 2017

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+ 800

New Listings

700

2017 ---------------- 681 2018 ---------------- 608 2019 ---------------- 666 2020 ---------------- 636

2021 --------------- 663

600 500 400

Closed Units

300

2017 ---------------- 287 2018 ---------------- 337 2019 ----------------- 354 2020 ---------------- 388

2021 --------------- 574

200

0

2017

2018

2019

2020

2021

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

800

2017 ---------------- 569 2018 ---------------- 628 2019 ---------------- 626 2020 ---------------- 625

2021 --------------- 762

700 600 500 400

Closed Units 2017 ---------------- 278 2018 ---------------- 451 2019 ----------------- 333 2020 ---------------- 381

2021 --------------- 607

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

$3,000,000

$3.922M

$3.860M

$3,500,000

$3.610M $3.184M

$3.126M

2017

2018

$2,500,000

$2,000,000

$1,500,000 0 2019

2020

2021

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

$2,000,000

$1.968M

$1.943M

2017

2018

$1.999M

$2.125M

$2.117M

2020

2021

$1,500,000

$1,000,000

$500,000

0

2019

* 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 February 28, 2021

ACTIVE LISTINGS

% CHANGE

CLOSED PAST % MONTHS OF 12 MONTHS CHANGE SUPPLY

% CHANGE

AVERAGE CLOSED PRICE

% CHANGE

Aqualane Shores

16

-56%

47

+194%

8.1

-38%

$5,383,593

+7%

Bonita Bay

13

-69%

70

+3%

5.8

-5%

$1,401,049

+21%

1

-93%

20

+43%

4.6

-54%

$1,578,725

+10%

Grey Oaks

10

-83%

85

+98%

6.8

-55%

$2,574,129

-7%

Isles of Collier Preserve

0

-100%

70

+67%

4.9

-11%

$1,118,317

+16%

Kensington

2

-83%

15

-17%

3.3

-43%

$815,327

-2%

Lely Resort

30

-75%

170

+62%

7.9

-30%

$696,496

+13%

Mediterra

14

-77%

67

+46%

9.1

-35%

$2,054,812

-11%

Monterey

5

-44%

19

-27%

4.3

-27%

$810,132

+5%

Naples Park

15

-81%

223

+38%

4.3

-38%

$511,453

+15%

Naples Reserve

8

-87%

143

+68%

4.2

-48%

$603,099

+18%

Olde Naples

27

-60%

99

+30%

8.0

-33%

$4,121,192

+1%

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

40

-60%

149

+16%

7.9

-24%

$2,311,484

+13%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

9

-64%

33

-13%

5.8

-42%

$4,061,668

+12%

Pelican Bay

13

-73%

72

+33%

7.2

-33%

$3,157,832

+21%

Pelican Landing

9

-81%

69

+13%

6.5

-17%

$791,934

+3%

Pelican Marsh

8

-81%

70

+32%

5.3

-48%

$1,124,623

+12%

Pine Ridge

16

-66%

54

+69%

8.7

-32%

$2,316,470

+26%

Port Royal

11

-79%

56

+60%

11.4

-25%

$10,412,054

+12%

Quail Creek

6

-60%

26

+4%

4.7

-37%

$1,282,788

+16%

Quail West

10

-82%

88

+76%

7.1

-43%

$2,313,413

+25%

Royal Harbor

6

-85%

60

+94%

8.0

-33%

$2,665,452

+16%

The Colony At Pelican Landing

3

-80%

18

+157%

9.1

-34%

$1,606,944

-10%

Tiburon

0

-100%

18

+50%

3.8

+3%

$1,755,778

+16%

Vanderbilt Beach

7

-83%

45

+32%

7.4

-42%

$1,841,674

+4%

Vineyards

7

-85%

78

+5%

5.0

-36%

$737,459

+12%

Collier’s Reserve

* 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 February 28, 2021

ACTIVE LISTINGS

% CHANGE

CLOSED PAST % 12 MONTHS CHANGE

MONTHS OF % AVERAGE SUPPLY CHANGE CLOSED PRICE

% CHANGE

Bonita Bay

39

-64%

149

+12%

7.2

-11%

$786,839

+3%

Grey Oaks

3

+50%

12

-8%

2.7

-36%

$1,017,158

+17%

Isles of Collier Preserve

8

-65%

44

+29%

4.7

-43%

$536,498

+7%

Kensington

5

-71%

20

+33%

11.7

+83%

$426,645

-7%

Lely Resort

33

-72%

205

+4%

5.7

-37%

$307,160

-4%

1

-95%

19

+27%

10.1

-19%

$585,816

+3%

Olde Naples

55

-47%

149

+16%

8.3

-23%

$998,734

+1%

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

19

-70%

102

+36%

7.6

-12%

$466,160

+17%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

91

-67%

395

+26%

8.3

-9%

$1,403,673

+4%

Pelican Bay

75

-70%

366

+36%

7.2

-28%

$1,252,612

-13%

Pelican Landing

6

-89%

107

+16%

4.9

-21%

$346,544

+4%

Pelican Marsh

12

-81%

102

+11%

5.2

-37%

$409,458

+14%

Pine Ridge

2

-75%

21

+17%

3.3

-44%

$224,167

+4%

The Dunes of Naples

11

-72%

49

+7%

8.0

-47%

$1,161,869

+6%

Tiburon

6

-78%

49

+26%

6.7

+10%

$765,240

-6%

Vanderbilt Beach

27

-72%

123

+24%

8.9

-28%

$1,019,802

+21%

Vineyards

26

-68%

130

-7%

5.0

-36%

$373,326

+8%

Mediterra

* 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.

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