NAPLES BONITA SPRINGS LUXURY PROPERTIES MARKET REPORT NOVEMBER 2023
NAPLES & BONITA SPRI NG S Single-Family Properties
CLOSED SALES •
The number of closed sales in the 12 months ending November 30th, 2023 for the Naples and Bonita Springs Area decreased 14% year-over-year (6,371 vs 7,443).
•
There were 25 closed sales priced above two million in November 2023 compared to 54 in November 2022; a 54% decrease. During the 12 months ending November 30th, 2023, sales in this category decreased 13% over the same time period in 2022 (712 vs 821 units).
NEW LISTINGS / INVENTORY •
During the 12 months ending November 30th, 2023, a total of 9,135 new listings were added to the market, this is an 8% decrease vs the same time period 12 months ending November 30th, 2022.
•
Available inventory as of November 30th, 2023 consisted of 3,211 units, an increase of 11% 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 $1,150,185, a 0.5% increase vs the same time period in 2022.
•
The median sales price for the area in November 2023 decreased 3% to $662,725 vs November 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 November 30th, 2023 for the Naples and Bonita Springs Area decreased 17% year-over-year (4,779 vs 5,774).
•
There were 26 closed sales priced above two million in November 2023 compared to 16 in November 2022; a 63% increase. During the 12 months ending November 30th, 2023, sales in this category increased 26% over the same time period in 2022 (446 vs 355 units).
NEW LISTINGS / INVENTORY •
During the 12 months ending November 30th, 2023, a total of 6,921 new listings were added to the market, a 0.5% increase vs the same time period 12 months ending November, 2022.
•
Available inventory as of November 30th, 2023 consisted of 2,438 units, an increase of 42% 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 $824,687, a 17% increase vs the same time period in 2022.
•
The median sales price for the area in November 2023 increased 4% to $448,950 vs November 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 November 30th, 2023 for the luxury market from Port Royal to Bonita Beach Road Area decreased 21% yearover-year (350 vs 442).
NEW LISTINGS / INVENTORY •
During the 12 months ending November 30th, 2023, a total of 809 new listings were added to the market, an increase of 6% compared to the same time period 12 months ending November 30th, 2022.
•
Available inventory as of November 30th, 2023 consisted of 414 units, a 30% increase vs the same time period in 2022 (414 vs 319). Current inventory represents 35 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE •
The year-over-year average sales price for the area was $4,415,026 a decrease of 16% vs the same time period in 2022.
•
The median sales price for the area in November 2023 decreased 21% to $1,873,573 vs November 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 November 30th, 2023 for the luxury market from Port Royal to Bonita Beach Road Area increased 10% yearover-year (645 vs 589).
NEW LISTINGS / INVENTORY •
During the 12 months ending November 30th, 2023, a total of 1,103 new listings were added to the market, an increase of 57% vs the same time period 12 months ending November 30th, 2022.
•
Available inventory as of November 30th, 2023 consisted of 454 units, a 99% increase vs the same time period in 2022 (454 vs 228). Current inventory represents 16 months of supply based on current absorption rates.
AVERAGE & MEDIAN SALES PRICE •
The year-over-year average sales price for the area was $2,394,207, decreasing 7% vs the same time period in 2022.
•
The median sales price for the area in November 2023 decreased 28% to $1,665,000 vs November 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
$1,144,839
$1,150,185
$983,085
$682,527
$744,500 10,363
10,204
10,240
10,262
9,963
9,135
8,392
7,443
6,643
2019
2020
2021
6,371
2022
2023
YEAR-OVER-YEAR MARKET TRENDS Condominium Properties Average Sales Price
New Listings
Closed Units
$824,687 $705,189 $556,986 $432,849
$483,656 9,014
8,314
8,038 5,319
2019
7,922 5,914
2020
2021
6,883
5,774
2022
6,921 4,779
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
$5,227,320 $4,780,899 $3,877,708
$3,550,328
698
632
$4,415,026
654
809
760
684
487
442
357
2019
2020
2021
350
2022
2023
YEAR-OVER-YEAR MARKET TRENDS Condominium Properties Average Sales Price
New Listings
Closed Units
$2,583,419 $2,084,744
$2,120,037
$2,394,207
$2,271,513
1,103 783
815
738
630
702
645
589
513 359
2019
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
30
77%
14
-13%
12.4
130%
$9,228,393
-2%
Bonita Bay
20
186%
50
19%
3.9
255%
$2,094,695
-5%
Collier’s Reserve
2
-60%
12
0%
1.6
46%
$2,644,583
15%
Grey Oaks
17
89%
33
-25%
4.4
76%
$4,443,000
-2%
Isles of Collier Preserve
23
15%
49
23%
6.5
171%
$2,060,741
-10%
Kensington
3
0%
16
0%
1.0
11%
$1,681,344
28%
Lely Resort
30
-3%
91
-9%
2.5
9%
$1,367,302
5%
Mediterra
23
53%
32
-26%
4.5
96%
$3,931,056
19%
Monterey
5
67%
16
0%
2.2
69%
$1,585,156
20%
Naples Park
128
58%
106
-48%
9.2
217%
$1,050,381
4%
Naples Reserve
17
29%
54
-5%
4.4
120%
$1,348,157
8%
Olde Naples
46
28%
46
-12%
8.5
107%
$7,147,913
-11%
Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront
63
31%
82
-9%
8.2
58%
$3,885,940
2%
Park Shore/Moorings/ Seagate/Coquina Sands Waterfront
24
-39%
28
0%
11.6
53%
$5,355,450
-18%
Pelican Bay
27
93%
33
-13%
7.2
300%
$3,741,628
-21%
Pelican Landing
19
171%
39
-17%
2.7
108%
$1,400,604
-1%
Pelican Marsh
13
63%
31
-18%
3.5
192%
$2,226,661
10%
Pine Ridge
24
71%
26
18%
7.0
25%
$6,591,067
29%
Port Royal
32
113%
15
-42%
12.7
189%
$16,790,000
-15%
Quail Creek
10
-23%
16
-47%
3.4
36%
$2,298,675
7%
Quail West
14
40%
31
-24%
5.8
190%
$4,709,293
16%
Royal Harbor
18
-5%
18
-31%
8.2
78%
$4,323,835
-16%
The Colony At Pelican Landing
3
50%
10
67%
1.1
450%
$2,446,500
-2%
Tiburon
4
33%
8
33%
4.1
356%
$4,076,875
53%
Vanderbilt Beach
32
7%
13
-41%
15.2
246%
$3,786,538
-4%
Vineyards
16
7%
63
9%
1.8
0%
$1,271,349
2%
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
56
211%
125
-7%
4.4
300%
$1,934,459
57%
Grey Oaks
4
-
6
-65%
1.0
100%
$2,231,500
18%
Isles of Collier Preserve
23
130%
50
14%
4.3
193%
$898,904
-5%
Kensington
1
-67%
18
20%
1.3
44%
$826,083
10%
Lely Resort
40
43%
131
-26%
3.1
182%
$573,770
8%
Mediterra
10
150%
10
-57%
3.1
139%
$1,586,000
26%
Olde Naples
62
55%
96
-24%
5.4
135%
$1,684,716
5%
Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront
54
170%
73
-25%
7.1
318%
$742,973
16%
Park Shore/Moorings/ Seagate/Coquina Sands Waterfront
160
220%
191
-27%
6.6
313%
$2,332,888
1%
Pelican Bay
131
134%
250
-6%
4.0
264%
$1,898,926
0%
Pelican Landing
9
80%
57
6%
2.0
186%
$591,500
8%
Pelican Marsh
11
10%
57
-10%
1.7
89%
$790,640
1%
The Dunes of Naples
22
120%
19
-37%
6.4
327%
$1,949,737
-1%
Tiburon
4
-33%
27
-7%
2.6
100%
$1,571,074
30%
Vanderbilt Beach
64
178%
50
-47%
10.0
488%
$1,395,103
-2%
Vineyards
17
42%
78
-30%
2.1
75%
$713,234
16%
*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
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 © 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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