NAPLES BONITA SPRINGS
LUXURY PROPERTIES MARKET REPORT
JUNE 2023
NAPLES & BONITA SPRINGS
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 SPRINGS
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
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
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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 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.
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 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.
CLOSED*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 10,404 9,963 10,883 10,223 8,904 6,402 6,854 11,003 8,547 6,352 $687,240 $679,710 $910,709 $1,080,516 $1,168,720 2019 2020 2021 2022 2023 8,211 7,706 8,958 7,469 6,262 5,196 5,007 9,258 6,762 4,798 $434,276 $432,818 $528,325 $675,006 $792,400 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 644 653 742 666 805 360 349 775 476 374 $3,744,426 $3,656,086 $4,096,623 $5,402,784 $4,882,057 2019 2020 2021 2022 2023 625 651 870 754 900 352 330 882 694 604 $2,097,587 $2,114,199 $2,118,172 $2,521,537 $2,497,106 2019 2020 2021 2022 2023
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 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 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%
*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.
Condominiums Neighborhood Active Listings Closed Past 12 Months Average Closed Price Months Of Supply % Change % Change % Change % 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%
COMMUNITY 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
$ $$ $$$
$$$
$$$
$$$
$$ $$
$
$$ $$$
MONTEREY North Naples
& COQUINA SANDS City of Naples
MEDITERRA North Naples
MOORINGS
GOLF COURSE KEY
PRICE RANGE
18
54
36
18
54
18
90
*Source of this market data: Southwest Florida MLS © 2023. Accuracy of this information is reliable but not guaranteed. Anyone who chooses to use this information to make market decisions should have this data independently verified.
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Neighborhood Golf Course Clubhouse Tennis Gated** Price Range Boating* Single-Family Condominium
*Many properties are boating oriented (have a dock or has a community dock/marina). **May or may not be manned by a security guard.
Neighborhood Golf Course Clubhouse Tennis Gated** Price Range Boating* Single-Family Condominium NAPLES PARK North Naples NAPLES RESERVE South Naples OLD NAPLES City of Naples PARK SHORE City of Naples PELICAN BAY North Naples PELICAN LANDING Bonita Springs PELICAN MARSH North Naples PINE RIDGE North Naples PORT ROYAL City of Naples QUAIL CREEK North Naples QUAIL WEST North Naples ROYAL HARBOR City of Naples THE COLONY AT PELICAN LANDING Bonita Springs THE DUNES OF NAPLES North Naples TIBURON GOLF CLUB North Naples VANDERBILT BEACH AREA North Naples VINEYARDS North Naples $$ $$$ $$$ $$$ $ $$$ $$ $$$ $$$ $$$ $$ $$ $ $ 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
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According to the Naples Area Board of
for
the
time period
listings are