William Raveis Real Estate Luxury Market Report December 2023

NAPLES BONITA SPRINGS LUXURY PROPERTIES MARKET REPORT DECEMBER 2023

NAPLES & BONITA SPRI NG S Single-Family Properties

CLOSED SALES •

The number of closed sales in the 12 months ending December 31st, 2023 for the Naples and Bonita Springs Area decreased 12% year-over-year (6,347 vs 7,199).

•

There were 57 closed sales priced above two million in December 2023 compared to 67 in December 2022; a 15% decrease. During the 12 months ending December 31st, 2023, sales in this category decreased 12% over the same time period in 2022 (710 vs 805 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending December 31st, 2023, a total of 9,231 new listings were added to the market, this is a 7% decrease vs the same time period 12 months ending December 31st, 2022.

•

Available inventory as of December 31st, 2023 consisted of 3,134 units, an increase of 14% vs the same time period in 2022. 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 $1,151,425, a 0.07% increase vs the same time period in 2022.

•

The median sales price for the area in December 2023 increased 9% to $740,000 vs December 2022.

*Source of this market data: Southwest Florida MLS © 2024. 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 December 31st, 2023 for the Naples and Bonita Springs Area decreased 13% year-over-year (4,780 vs 5,517).

•

There were 29 closed sales priced above two million in December 2023 compared to 16 in December 2022; an 81% increase. During the 12 months ending December 31st, 2023, sales in this category increased 26% over the same time period in 2022 (455 vs 360 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending December 31st, 2023, a total of 7,076 new listings were added to the market, a 4% increase vs the same time period 12 months ending December, 2022.

•

Available inventory as of December 31st, 2023 consisted of 2,519 units, an increase of 49% vs the same time period in 2022. 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 $840,501, a 17% increase vs the same time period in 2022.

•

The median sales price for the area in December 2023 increased 14% to $515,000 vs December 2022.

*Source of this market data: Southwest Florida MLS © 2024. 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 December 31st, 2023 for the luxury market from Port Royal to Bonita Beach Road Area decreased 20% yearover-year (336 vs 419).

NEW LISTINGS / INVENTORY •

During the 12 months ending December 31st, 2023, a total of 798 new listings were added to the market, an increase of 2% compared to the same time period 12 months ending December 31st, 2022.

•

Available inventory as of December 31st, 2023 consisted of 416 units, a 29% increase vs the same time period in 2022 (416 vs 322). Current inventory represents 22 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $4,324,940 a decrease of 16% vs the same time period in 2022.

•

The median sales price for the area in December 2023 decreased 10% to $2,935,000 vs December 2022.

*Source of this market data: Southwest Florida MLS © 2024. 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 December 31st, 2023 for the luxury market from Port Royal to Bonita Beach Road Area increased 10% yearover-year (638 vs 578).

NEW LISTINGS / INVENTORY •

During the 12 months ending December 31st, 2023, a total of 1,099 new listings were added to the market, an increase of 52% vs the same time period 12 months ending December 31st, 2022.

•

Available inventory as of December 31st, 2023 consisted of 462 units, a 91% increase vs the same time period in 2022 (462 vs 242). Current inventory represents 14 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $2,433,363, decreasing 6% vs the same time period in 2022.

•

The median sales price for the area in December 2023 increased 8% to $2,270,000 vs December 2022.

*Source of this market data: Southwest Florida MLS © 2024. 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

$1,150,625

$1,151,425

$995,967

$686,812

$771,649 10,395

10,182

10,115

10,028

8,716

9,967

9,231 7,199

6,834

2019

2020

2021

6,347

2022

2023

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

New Listings

Closed Units

$840,501 $715,891 $565,309 $493,615 $431,057 8,842

8,387

8,005 5,423

2019

7,787 6,194

2020

2021

6,804

7,076 5,517

2022

4,780

2023

*Source of this market data: Southwest Florida MLS © 2024. 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

$5,168,714

$4,855,192

$4,324,940 $3,785,698

$3,686,948

631

798

786

703

658

643 539

419

373

2019

2020

2021

336

2022

2023

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

New Listings

Closed Units

$2,579,286 $2,076,565

$2,129,631

$2,300,837

$2,433,363

1,099 796

791

732

623

723

638

578

563 367

2019

2020

2021

2022

2023

*Source of this market data: Southwest Florida MLS © 2024. 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

32

60%

13

-19%

13.1

118%

$9,788,269

6%

Bonita Bay

27

170%

52

27%

4.2

250%

$2,142,995

-1%

Collier’s Reserve

4

-20%

13

8%

1.5

7%

$2,809,385

17%

Grey Oaks

20

100%

38

-7%

4.6

77%

$4,529,447

-2%

Isles of Collier Preserve

26

24%

51

46%

6.4

113%

$2,070,418

-12%

Kensington

2

-33%

16

7%

0.9

-10%

$1,681,344

26%

Lely Resort

33

32%

85

-17%

2.6

4%

$1,379,253

4%

Mediterra

23

53%

34

-19%

4.7

81%

$3,801,226

7%

Monterey

6

100%

13

-24%

2.4

71%

$1,664,808

27%

Naples Park

121

34%

107

-45%

9.9

200%

$1,050,985

2%

Naples Reserve

18

-10%

57

6%

4.3

87%

$1,307,465

1%

Olde Naples

49

53%

41

-20%

8.9

98%

$7,309,366

-7%

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

64

28%

76

-14%

8.5

52%

$4,018,382

7%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

23

-40%

29

16%

11.1

32%

$5,489,745

-19%

Pelican Bay

29

81%

31

-6%

7.7

267%

$3,733,023

-24%

Pelican Landing

19

280%

39

-11%

3.0

131%

$1,452,756

2%

Pelican Marsh

7

-36%

36

-3%

3.4

127%

$2,281,292

14%

Pine Ridge

23

64%

19

-32%

7.4

28%

$6,532,565

15%

Port Royal

33

94%

13

-41%

13.4

174%

$16,615,385

-16%

Quail Creek

10

11%

18

-36%

3.5

30%

$2,487,711

14%

Quail West

14

8%

31

-16%

5.9

157%

$4,782,519

21%

Royal Harbor

23

44%

15

-40%

9.2

84%

$4,300,269

-20%

The Colony At Pelican Landing

2

0%

10

67%

1.1

267%

$2,446,500

-2%

Tiburon

3

0%

9

29%

4.1

273%

$3,935,000

47%

Vanderbilt Beach

33

14%

11

-52%

16.6

226%

$3,581,818

-10%

Vineyards

18

64%

61

13%

2.0

5%

$1,293,197

2%

Neighborhood

*Source of this market data: Southwest Florida MLS © 2024. 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

68

143%

131

4%

4.7

292%

$1,894,518

48%

Grey Oaks

4

300%

6

-60%

1.2

140%

$2,231,500

21%

Isles of Collier Preserve

21

110%

49

23%

4.2

163%

$903,524

-3%

Kensington

2

0%

19

36%

1.3

44%

$822,079

9%

Lely Resort

45

45%

134

-14%

3.2

167%

$577,540

5%

Mediterra

8

60%

10

-50%

3.4

127%

$1,587,500

19%

Olde Naples

63

40%

101

-16%

5.6

124%

$1,678,374

4%

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

57

128%

68

-27%

7.6

300%

$713,926

11%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

167

193%

197

-18%

7.3

329%

$2,433,164

4%

Pelican Bay

135

125%

248

-1%

4.3

231%

$1,865,711

-3%

Pelican Landing

10

25%

60

18%

2.0

150%

$591,650

8%

Pelican Marsh

11

57%

58

4%

1.7

70%

$812,871

0%

The Dunes of Naples

23

92%

20

-29%

7.1

294%

$1,876,000

-7%

Tiburon

4

33%

28

4%

2.6

86%

$1,517,643

18%

Vanderbilt Beach

66

230%

52

-37%

11.0

511%

$1,370,003

-8%

Vineyards

21

91%

76

-29%

2.4

85%

$708,069

14%

*Source of this market data: Southwest Florida MLS © 2024. 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 © 2024. 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

36

$$$

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 © 2024. 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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