LUXURY PROPERTIES MARKET REPORT
2023
NAPLES BONITA SPRINGS MAY
NAPLES & BONITA SPRINGS
Single-Family Properties
CLOSED SALES
• The number of closed sales in the 12 months ending May 31, 2023 for the Naples and Bonita Springs Area decreased 28% year-over-year (6,403 vs 8,883).
• There were 94 closed sales priced above two million in May 2023 compared to 131 in May 2022; a 28% decrease. During the 12 months ending May 31, 2023, sales in this category decreased 18% over the same time period in 2022 (719 vs 879 units).
NEW LISTINGS / INVENTORY
• During the 12 months ending May 31, 2023, a total of 9,154 new listings were added to the market, this is a 10% decrease vs the same time period 12 months ending May 31, 2022.
• Available inventory as of May 31, 2023 consisted of 2,987 units, an increase of 8% 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 $1,161,996, an 8% increase vs the same time period in 2022.
• The median sales price for the area in May 2023 decreased 5% to $726,000 vs May 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 May 31, 2023 for the Naples and Bonita Springs Area decreased 31% year-over-year (4,905 vs 7,085).
• There were 47 closed sales priced above two million in May 2023 compared to 63 in May 2022; a 25% decrease. During the 12 months ending May 31, 2023, sales in this category increased 19% over the same time period in 2022 (439 vs 368 units).
NEW LISTINGS / INVENTORY
• During the 12 months ending May 31, 2023, a total of 6,379 new listings were added to the market, a 15% decrease vs the same time period 12 months ending May 31, 2022.
• Available inventory as of May 31, 2023 consisted of 2,179 units, an increase of 15% vs the same time period in 2022. Current inventory represents 4 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE
• The year-over-year average sales price for the area was $796,018, a 23% increase vs the same time period in 2022.
• The median sales price for the area in May 2023 decreased 0.05% to $465,000 vs May 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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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 May 31, 2023 for the luxury market from Port Royal to Bonita Beach Road Area decreased 27% year-over-year (373 vs 509).
NEW LISTINGS / INVENTORY
• During the 12 months ending May 31, 2023, a total of 818 new listings were added to the market, an increase of 24% compared to the same time period 12 months ending May 31, 2022.
• Available inventory as of May 31, 2023 consisted of 408 units, a 41% increase vs the same time period in 2022 (408 vs 290). 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 $4,873,012 a decrease of 10% vs the same time period in 2022.
• The median sales price for the area in May 2023 increased 51% to $4,450,000 vs May 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 May 31, 2023 for the luxury market from Port Royal to Bonita Beach Road Area decreased 11% year-over-year (617 vs 697).
NEW LISTINGS / INVENTORY
• During the 12 months ending May 31, 2023, a total of 898 new listings were added to the market, an increase of 21% vs the same time period 12 months ending May 31, 2022.
• Available inventory as of May 31, 2023 consisted of 366 units, a 62% increase vs the same time period in 2022 (366 vs 226). 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 $2,516,531, increasing 3% vs the same time period in 2022.
• The median sales price for the area in May 2023 increased 10% to $1,899,000 vs May 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 10,448 9,765 10,915 10,137 9,154 6,397 6,789 10,675 8,883 6,403 $694,752 $670,802 $900,277 $1,071,417 $1,161,996 2019 2020 2021 2022 2023 8,239 7,466 9,065 7,526 6,379 5,271 5,087 8,754 7,085 4,905 $423,618 $434,207 $524,235 $649,721 $796,018 2019 2020 2021 2022 2023
YEAR-OVER-YEAR MARKET TRENDS
PORT ROYAL to BONITA BEACH ROAD AREA
Average Sales Price New Listings Closed Units Average Sales Price New Listings Closed Units *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 YEAR-OVER-YEAR MARKET TRENDS Condominium Properties 647 626 756 661 818 362 345 754 509 373 $3,754,752 $3,636,641 $4,116,124 $5,408,093 $4,873,012 2019 2020 2021 2022 2023 610 616 904 741 898 338 339 848 697 617 $2,058,928 $2,125,711 $2,124,437 $2,452,813 $2,516,531 2019 2020 2021 2022 2023
In U.S. Home Sales
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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 29 142% 14 -50% 9.9 350% $8,010,714 3% Bonita Bay 17 467% 41 -33% 2.6 225% $2,199,622 17% Collier’s Reserve 2 0% 15 67% 1.8 500% $2,533,000 41% Grey Oaks 18 80% 34 -21% 3.8 246% $3,828,662 -12% Isles of Collier Preserve 19 280% 41 -23% 6.0 757% $2,250,949 20% Kensington 2 100% 18 6% 1.5 200% $1,596,981 39% Lely Resort 19 -21% 94 -27% 3.0 329% $1,395,457 25% Mediterra 12 50% 31 -44% 4.1 310% $3,910,887 32% Monterey 7 133% 14 -36% 2.5 733% $1,517,143 34% Naples Park 83 17% 120 -55% 5.7 280% $1,073,358 31% Naples Reserve 17 89% 50 -38% 3.9 388% $1,377,006 27% Olde Naples 43 87% 53 -15% 6.9 176% $7,401,547 8% Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront 60 46% 85 -18% 8.1 212% $3,673,513 -1% Park Shore/Moorings/ Seagate/Coquina Sands Waterfront 27 42% 28 -30% 11.1 158% $4,658,843 -25% Pelican Bay 22 175% 28 -44% 4.3 231% $4,168,934 1% Pelican Landing 9 29% 47 4% 1.8 200% $1,352,164 8% Pelican Marsh 11 120% 30 -43% 2.6 550% $1,852,883 -9% Pine Ridge 21 17% 24 -17% 7.1 145% $5,161,625 12% Port Royal 29 123% 20 -23% 8.8 300% $18,590,853 -3% Quail Creek 4 -43% 20 -41% 3.1 182% $2,246,940 14% Quail West 15 150% 30 -39% 4.5 350% $4,216,008 17% Royal Harbor 18 50% 23 -15% 7.4 147% $4,315,371 -6% The Colony At Pelican Landing 2 - 7 -36% 0.6 100% $2,227,143 10% Tiburon 4 33% 8 -39% 2.4 200% $3,908,125 49% Vanderbilt Beach 26 136% 17 -43% 9.5 352% $3,990,329 9% Vineyards 6 -40% 68 2% 2.2 120% $1,395,360 46%
*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 43 207% 122 -24% 2.5 150% $1,918,355 65% Grey Oaks 0 -100% 13 -19% 0.4 0% $2,072,615 40% Isles of Collier Preserve 13 225% 43 13% 3.0 400% $917,965 4% Kensington 3 50% 15 -6% 1.3 160% $820,233 25% Lely Resort 33 94% 123 -44% 2.3 229% $568,200 23% Mediterra 4 25% 12 -56% 1.9 138% $1,551,667 49% Olde Naples 43 87% 106 -33% 3.8 111% $1,773,888 40% Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront 46 188% 67 -44% 4.1 413% $713,247 19% Park Shore/Moorings/ Seagate/Coquina Sands Waterfront 117 172% 191 -43% 3.7 311% $2,316,978 12% Pelican Bay 70 218% 241 -33% 2.7 350% $1,864,102 9% Pelican Landing 13 86% 59 -11% 1.5 275% $582,190 16% Pelican Marsh 5 0% 55 -28% 1.4 250% $806,680 24% The Dunes of Naples 11 120% 22 -46% 4.0 400% $2,002,091 28% Tiburon 10 67% 25 -31% 2.4 500% $1,541,800 37% Vanderbilt Beach 53 121% 43 -72% 4.8 336% $1,438,649 5% Vineyards 19 12% 96 -27% 1.9 280% $675,023 27%
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
$ $$ $$$
$$$
$$$
$$$
$$ $$
$
$$ $$$
MONTEREY North Naples
& COQUINA SANDS City of Naples
MEDITERRA North Naples
MOORINGS
GOLF COURSE KEY
PRICE RANGE
18
54
36
18
54
18
90
*Source of this market data: Southwest Florida MLS © 2023. Accuracy of this information is reliable but not guaranteed. Anyone who chooses to use this information to make market decisions should have this data independently verified.
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$$
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