William Raveis Real Estate Luxury Market Report March 2023

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NAPLES BONITA SPRINGS

LUXURY PROPERTIES MARKET REPORT

MARCH 2023

NAPLES & BONITA SPRINGS

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 SPRINGS

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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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 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.

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 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 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 10,370 10,105 10,296 9,947 9,736 6,253 7,236 9,556 9,342 6,783 $699,742 $692,170 $836,551 $1,024,650 $1,180,101 2019 2020 2021 2022 2023 8,259 7,822 8,526 7,479 6,757 5,094 5,696 7,358 7,784 5,213 $417,433 $444,303 $498,904 $612,826 $787,949 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 655 629 718 612 861 345 410 621 555 427 $3,817,946 $3,637,054 $4,042,083 $5,247,177 $4,881,762 2019 2020 2021 2022 2023 606 617 852 729 883 323 404 664 734 664 $2,002,335 $2,159,091 $2,111,780 $2,406,377 $2,524,486 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 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%
*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 SNAPSHOT
Condominiums Neighborhood Active Listings Closed Past 12 Months Average Closed Price Months Of Supply % Change % Change % Change % 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%
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

$ $$ $$$

$$$

$$$

$$$

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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.
$$$
$$
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 $$$ $$$ 18 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 - According to the Naples Area Board of for
the
time period
listings are
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