William Raveis Real Estate Luxury Market Report August 2023 by raveis7

2023

NAPLES BONITA SPRINGS AUGUST

LUXURY PROPERTIES MARKET REPORT

NAPLES & BONITA SPRINGS

Single-Family Properties

CLOSED SALES

• The number of closed sales in the 12 months ending August 31, 2023 for the Naples and Bonita Springs Area decreased 20% year-over-year (6,402 vs 8,031).

• There were 58 closed sales priced above two million in August 2023 compared to 53 in August 2022; a 9% increase. During the 12 months ending August 31, 2023, sales in this category decreased 10% over the same time period in 2022 (739 vs 824 units).

NEW LISTINGS / INVENTORY

• During the 12 months ending August 31, 2023, a total of 8,776 new listings were added to the market, this is a 13% decrease vs the same time period 12 months ending August 31, 2022.

• Available inventory as of August 31, 2023 consisted of 2,633 units, a decrease of 5% 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 $1,159,258, a 4% increase vs the same time period in 2022.

• The median sales price for the area in August 2023 increased 1% to $685,000 vs August 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 August 31, 2023 for the Naples and Bonita Springs Area decreased 25% year-over-year (4,749 vs 6,290).

• There were 21 closed sales priced above two million in August 2023 compared to 13 in August 2022; a 62% increase. During the 12 months ending August 31, 2023, sales in this category increased 19% over the same time period in 2022 (434 vs 365 units).

NEW LISTINGS / INVENTORY

• During the 12 months ending August 31, 2023, a total of 6,273 new listings were added to the market, a 14% decrease vs the same time period 12 months ending August 31, 2022.

• Available inventory as of August 31, 2023 consisted of 1,881 units, an increase of 11% vs the same time period in 2022. 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 $809,781, a 19% increase vs the same time period in 2022.

• The median sales price for the area in August 2023 increased 10% to $470,000 vs August 2022.

Luxury Broker in the World

by Luxury Portfolio International | 2018

William Raveis is honored to be recognized as the #1 Luxury Broker in the World by Luxury Portfolio International in 2018

550 COMPANIES | 4,300 OFFICES

135,000 ASSOCIATES 1 WINNER

PORT ROYAL to BONITA BEACH ROAD AREA

Single-Family Properties

• The number of closed sales in the 12 months ending August 31, 2023 for the luxury market from Port Royal to Bonita Beach Road Area decreased 19% year-over-year (371 vs 458).

NEW LISTINGS / INVENTORY

• During the 12 months ending August 31, 2023, a total of 819 new listings were added to the market, an increase of 23% compared to the same time period 12 months ending August 31, 2022.

• Available inventory as of August 31, 2023 consisted of 309 units, a 24% increase vs the same time period in 2022 (309 vs 249). Current inventory represents 13 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE

• The year-over-year average sales price for the area was $4,549,384 a decrease of 18% vs the same time period in 2022.

• The median sales price for the area in August 2023 decreased 44% to $2,500,000 vs August 2022.

CLOSED SALES LUXURY MARKET $1M+ (WEST OF 41)

PORT ROYAL to BONITA BEACH ROAD AREA

Condominiums

LUXURY MARKET $1M+ (WEST OF 41)

SALES

• The number of closed sales in the 12 months ending August 31, 2023 for the luxury market from Port Royal to Bonita Beach Road Area decreased 6% year-over-year (617 vs 653).

NEW LISTINGS / INVENTORY

• During the 12 months ending August 31, 2023, a total of 904 new listings were added to the market, an increase of 21% vs the same time period 12 months ending August 31, 2022.

• Available inventory as of August 31, 2023 consisted of 275 units, a 36% increase vs the same time period in 2022 (275 vs 202). Current inventory represents 11 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE

• The year-over-year average sales price for the area was $2,516,543, increasing 1% vs the same time period in 2022.

• The median sales price for the area in August 2023 increased 17% to $1,815,000 vs August 2022.

CLOSED

NAPLES & BONITA SPRINGS

YEAR-OVER-YEAR MARKET TRENDS

Single-Family Properties Average Sales Price New Listings Closed Units

Condominium Properties Average Sales Price New Listings Closed Units 10,263 10,251 10,795 10,092 8,776 6,549 7,393 10,822 8,031 6,402 $690,494 $692,605 $950,489 $1,114,601 $1,159,258 2019 2020 2021 2022 2023 8,188 8,113 8,640 7,252 6,273 5,222 5,249 9,377 6,290 4,749 $437,840 $459,760 $531,352 $683,377 $809,781 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 645 681 716 667 819 364 400 746 458 371 $3,918,869 $3,447,312 $4,415,930 $5,519,801 $4,549,384 2019 2020 2021 2022 2023 615 747 795 745 904 368 418 834 653 617 $2,109,698 $2,090,317 $2,222,078 $2,492,900 $2,516,543 2019 2020 2021 2022 2023

In U.S. Home Sales

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COMMUNITY SNAPSHOT REPORT

Single-Family Properties

Neighborhood Active Listings Closed Past 12 Months Average Closed Price Months Of Supply % Change % Change % Change % Change Aqualane Shores 21 31% 13 -35% 108.0 184% $9,522,885 10% Bonita Bay 11 22% 45 -4% 3.1 244% $2,325,572 10% Collier’s Reserve 1 -67% 12 9% 1.8 200% $2,589,583 22% Grey Oaks 12 -14% 37 -3% 4.0 122% $4,027,311 -13% Isles of Collier Preserve 15 25% 47 12% 6.7 458% $2,194,650 2% Kensington 2 0% 19 12% 1.0 67% $1,685,079 45% Lely Resort 14 -50% 93 -8% 2.7 93% $1,423,610 15% Mediterra 7 -46% 31 -30% 4.2 180% $3,814,506 17% Monterey 0 -100% 17 13% 2.3 188% $1,504,706 18% Naples Park 82 12% 116 -53% 6.9 229% $1,080,039 19% Naples Reserve 14 8% 53 -21% 4.4 300% $1,342,328 12% Olde Naples 29 53% 47 -16% 7.9 155% $7,244,766 -2% Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront 47 -2% 92 10% 8.0 105% $3,617,854 -11% Park Shore/Moorings/ Seagate/Coquina Sands Waterfront 20 -9% 28 -13% 11.2 100% $4,824,914 -26% Pelican Bay 16 167% 35 -15% 5.3 279% $3,979,306 -12% Pelican Landing 11 83% 41 -9% 2.0 100% $1,374,512 -4% Pelican Marsh 8 33% 31 -14% 2.9 263% $2,220,532 13% Pine Ridge 18 -5% 25 4% 6.6 47% $6,066,080 25% Port Royal 24 60% 19 -27% 10.2 220% $17,876,316 -8% Quail Creek 6 -40% 17 -47% 3.1 82% $2,341,400 12% Quail West 11 22% 32 -27% 5.1 240% $4,241,534 11% Royal Harbor 11 22% 22 -8% 7.5 108% $4,364,274 -16% The Colony At Pelican Landing 1 - 9 29% 0.8 167% $2,540,556 10% Tiburon 2 100% 7 -36% 2.8 367% $4,205,714 56% Vanderbilt Beach 22 57% 14 -48% 12.3 339% $3,707,143 -4% Vineyards 9 -25% 66 10% 1.9 27% $1,297,780 16%

Condominiums Neighborhood Active Listings Closed Past 12 Months Average Closed Price Months Of Supply % Change % Change % Change % Change Bonita Bay 31 158% 117 -24% 3.4 240% $2,034,555 71% Grey Oaks 1 0% 9 -40% 0.3 -50% $2,135,444 22% Isles of Collier Preserve 15 150% 46 12% 3.5 250% $861,480 -9% Kensington 1 - 15 -12% 1.3 117% $801,900 14% Lely Resort 26 -7% 128 -35% 2.7 238% $570,442 14% Mediterra 5 0% 10 -57% 2.3 130% $1,592,000 38% Olde Naples 33 14% 94 -31% 4.3 126% $1,768,311 17% Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront 43 115% 70 -29% 5.6 367% $633,539 -3% Park Shore/Moorings/ Seagate/Coquina Sands Waterfront 85 81% 188 -34% 4.8 300% $2,394,964 11% Pelican Bay 56 33% 247 -22% 3.2 300% $1,922,609 6% Pelican Landing 5 67% 58 2% 1.6 167% $585,380 11% Pelican Marsh 9 13% 61 -9% 1.5 150% $805,705 14% The Dunes of Naples 7 40% 19 -49% 4.8 433% $1,884,474 2% Tiburon 5 25% 25 -27% 2.7 238% $1,539,360 31% Vanderbilt Beach 41 128% 44 -61% 7.2 454% $1,476,975 9% Vineyards 16 -11% 83 -27% 1.9 111% $682,488 16%

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

$$$

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 - According to the Naples Area Board of for

the

time period

listings are