William Raveis Real Estate Luxury Market Report June 2023

NAPLES BONITA SPRINGS LUXURY PROPERTIES MARKET REPORT JUNE 2023

NAPLES & BONITA SPRI NG S Single-Family Properties

CLOSED SALES •

The number of closed sales in the 12 months ending June 30, 2023 for the Naples and Bonita Springs Area decreased 24% year-over-year (6,532 vs 8,547).

•

There were 62 closed sales priced above two million in June 2023 compared to 60 in June 2022; a 3% increase.

During the 12 months ending June 30, 2023, sales in this category decreased 15% over the same time period in 2022 (724 vs 847 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending June 30, 2023, a total of 8,904 new listings were added to the market, this is a 13% decrease vs the same time period 12 months ending June 30, 2022.

•

Available inventory as of June 30, 2023 consisted of 2,781 units, a decrease of 1% 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 $1,168,720, an 8% increase vs the same time period in 2022.

•

The median sales price for the area in June 2023 increased 3% to $715,000 vs June 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 June 30, 2023 for the Naples and Bonita Springs Area decreased 29% year-over-year (4,798 vs 6,762).

•

There were 30 closed sales priced above two million in June 2023 compared to 53 in June 2022; a 43% decrease.

During the 12 months ending June 30, 2023, sales in this category increased 7% over the same time period in 2022 (420 vs 393 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending June 30, 2023, a total of 6,262 new listings were added to the market, a 16% decrease vs the same time period 12 months ending June 30, 2022.

•

Available inventory as of June 30, 2023 consisted of 2,002 units, an increase of 13% 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 $792,400, a 17% increase vs the same time period in 2022.

•

The median sales price for the area in June 2023 decreased 3% to $480,000 vs June 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.

Luxury Broker in the World

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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 June 30, 2023 for the luxury market from Port Royal to Bonita Beach Road Area decreased 21% year-over-year (374 vs 476).

NEW LISTINGS / INVENTORY •

During the 12 months ending June 30, 2023, a total of 805 new listings were added to the market, an increase of 21% compared to the same time period 12 months ending June 30, 2022.

•

Available inventory as of June 30, 2023 consisted of 340 units, a 26% increase vs the same time period in 2022 (340 vs 270). Current inventory represents 10 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $4,882,057 a decrease of 10% vs the same time period in 2022.

•

The median sales price for the area in June 2023 decreased 37% to $2,100,000 vs June 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 June 30, 2023 for the luxury market from Port Royal to Bonita Beach Road Area decreased 13% year-over-year (604 vs 694).

NEW LISTINGS / INVENTORY •

During the 12 months ending June 30, 2023, a total of 900 new listings were added to the market, an increase of 19% vs the same time period 12 months ending June 30, 2022.

•

Available inventory as of June 30, 2023 consisted of 336 units, a 66% increase vs the same time period in 2022 (336 vs 202). Current inventory represents 7 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $2,497,106, decreasing 1% vs the same time period in 2022.

•

The median sales price for the area in June 2023 decreased 21% to $1,900,000 vs June 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

$1,080,516

$1,168,720

$910,709 $687,240 10,404

$679,710

10,883

9,963

11,003

10,223 8,547

6,854

6,402

2019

8,904 6,352

2020

2021

2022

2023

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

New Listings

Closed Units

$792,400 $675,006 $528,325 $434,276

$432,818 8,958

8,211

9,258

7,706 5,196

2019

7,469

6,762

5,007

2020

6,262 4,798

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.

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

$5,402,784 $4,882,057

$3,744,426

$4,096,623 $3,656,086

653

644

805

775

742

666 476

360

374

349

2019

2020

2021

2022

2023

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

New Listings

Closed Units

$2,521,537 $2,097,587

$2,114,199

$2,118,172

882

870 651

625 352 2019

$2,497,106

900 754

694

604

330 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.

In U.S. Home Sales William Raveis is a member of Leading Real Estate Companies of the World, an invitation-only network and home of the world’s market-leading independent residential brokerages.

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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

25

67%

13

-38%

10.2

278%

$9,303,654

10%

Bonita Bay

12

1100%

41

-21%

2.9

314%

$2,129,165

8%

Collier’s Reserve

4

100%

15

67%

1.9

375%

$2,533,000

41%

Grey Oaks

16

33%

35

-15%

4.0

208%

$3,879,157

-14%

Isles of Collier Preserve

19

138%

45

5%

6.3

600%

$2,254,998

13%

Kensington

2

0%

21

24%

1.1

175%

$1,656,983

45%

Lely Resort

20

-26%

95

-14%

2.9

222%

$1,373,403

13%

Mediterra

9

-18%

30

-36%

4.1

273%

$3,879,000

27%

Monterey

3

-50%

14

-30%

2.5

400%

$1,533,929

40%

Naples Park

72

-18%

111

-59%

6.1

259%

$1,065,680

24%

Naples Reserve

16

79%

49

-37%

4.2

425%

$1,398,029

25%

Olde Naples

34

70%

49

-18%

7.4

164%

$7,394,429

1%

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

51

3%

92

6%

8.1

170%

$3,683,778

-3%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

25

4%

28

-20%

11.1

131%

$4,658,843

-28%

Pelican Bay

18

157%

33

-33%

4.6

254%

$3,937,732

-5%

Pelican Landing

10

25%

46

5%

1.8

157%

$1,377,429

9%

Pelican Marsh

8

33%

31

-33%

2.7

440%

$1,980,210

-11%

Pine Ridge

20

0%

25

-11%

6.9

109%

$5,541,080

21%

Port Royal

29

123%

23

-4%

9.2

268%

$18,083,351

-7%

Quail Creek

6

-40%

18

-42%

3.1

139%

$2,158,544

5%

Quail West

15

15%

31

-34%

4.7

292%

$4,061,976

9%

Royal Harbor

16

46%

23

-18%

7.5

127%

$4,346,893

-7%

The Colony At Pelican Landing

2

-

8

-11%

0.7

133%

$2,589,375

26%

Tiburon

4

100%

7

-42%

2.6

271%

$4,052,857

45%

Vanderbilt Beach

24

85%

14

-53%

10.4

352%

$3,746,114

-2%

Vineyards

6

-54%

68

8%

2.1

75%

$1,385,581

40%

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

40

167%

111

-32%

2.8

180%

$2,040,684

73%

Grey Oaks

0

-100%

10

-38%

0.4

-20%

$2,131,900

32%

Isles of Collier Preserve

13

117%

41

0%

3.2

357%

$884,021

-4%

Kensington

2

0%

14

-18%

1.3

117%

$811,036

19%

Lely Resort

29

71%

122

-43%

2.5

213%

$563,803

16%

Mediterra

4

0%

12

-52%

2.0

150%

$1,551,667

45%

Olde Naples

40

33%

97

-38%

4.0

122%

$1,711,971

21%

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

44

132%

66

-42%

4.7

422%

$647,141

2%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

103

110%

186

-39%

4.1

310%

$2,300,918

3%

Pelican Bay

74

100%

242

-30%

2.9

383%

$1,900,795

8%

Pelican Landing

8

33%

58

-11%

1.6

220%

$578,485

14%

Pelican Marsh

7

0%

58

-16%

1.4

180%

$798,293

18%

The Dunes of Naples

11

175%

21

-46%

4.4

450%

$1,980,952

19%

Tiburon

9

125%

29

-22%

2.6

420%

$1,466,724

22%

Vanderbilt Beach

47

147%

38

-73%

5.7

375%

$1,455,892

4%

Vineyards

14

-26%

89

-29%

1.9

171%

$671,090

21%

*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.

ME VT

NH

MA

NY

CT

RI

FL

Number One Luxury Broker #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

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 1/1/2022 - 12/13/2022. 4. According to the Naples Area Board of REALTORS® for the time period 1/1/2022 - 1/1/2023. Non-MLS listings are not included in these tabulations.