William Raveis Real Estate Luxury Market Report March 2024 by raveis7

NAPLES

MARCH 2024 LUXURY PROPERTIES MARKET REPORT

BONITA SPRINGS

NAPLES & BONITA SPRINGS

Single-Family Properties

CLOSED SALES

• The number of closed sales in the 12 months ending March 31st, 2024 for the Naples and Bonita Springs Area decreased 11% year-over-year (6,149 vs 6,873).

• There were 88 closed sales priced above two million in March 2024 compared to 98 in March 2023; a 10% decrease. During the 12 months ending March 31st, 2024, sales in this category decreased 14% over the same time period in 2023 (694 vs 805 units).

NEW LISTINGS / INVENTORY

• During the 12 months ending March 31st, 2024, a total of 9,792 new listings were added to the market, this is a 0.5% decrease vs the same time period 12 months ending March 31st, 2023.

• Available inventory as of March 31st, 2024 consisted of 4,345 units, an increase of 28% vs the same time period in 2023. 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 $1,167,980, a 0.7% decrease vs the same time period in 2023.

• The median sales price for the area in March 2024 increased 5% to $749,000 vs March 2023.

NAPLES & BONITA SPRINGS

CLOSED SALES

• The number of closed sales in the 12 months ending March 31st, 2024 for the Naples and Bonita Springs Area decreased 14% year-over-year (4,544 vs 5,276).

• There were 42 closed sales priced above two million in March 2024 compared to 50 in March 2023; a 16% decrease. During the 12 months ending March 31st, 2024, sales in this category decreased 25% over the same time period in 2023 (348 vs 466 units).

NEW LISTINGS / INVENTORY

• During the 12 months ending March 31st, 2024, a total of 7,535 new listings were added to the market, a 10% increase vs the same time period 12 months ending March, 2023.

• Available inventory as of March 31st, 2024 consisted of 3,792 units, an increase of 49% vs the same time period in 2023. 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 $800,275, a 0.6% increase vs the same time period in 2023.

• The median sales price for the area in March 2024 increased 8% to $518,700 vs March 2023.

of this market data: Southwest Florida MLS © 2024. 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 *Source

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PORT ROYAL to BONITA BEACH ROAD AREA

Single-Family Properties

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

• The number of closed sales in the 12 months ending March 31st, 2024 for the luxury market from Port Royal to Bonita Beach Road Area decreased 29% year-over-year (307 vs 430).

NEW LISTINGS / INVENTORY

• During the 12 months ending March 31st, 2024, a total of 791 new listings were added to the market, a decrease of 9% compared to the same time period 12 months ending March 31st, 2023.

• Available inventory as of March 31st, 2024 consisted of 556 units, an 18% increase vs the same time period in 2023 (556 vs 470). Current inventory represents 22 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE

• The year-over-year average sales price for the area was $4,430,106 a decrease of 9% vs the same time period in 2023.

• The median sales price for the area in March 2024 increased 35% to $4,250,000 vs March 2023.

PORT ROYAL to BONITA BEACH ROAD AREA

Condominiums

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

• The number of closed sales in the 12 months ending March 31st, 2024 for the luxury market from Port Royal to Bonita Beach Road Area decreased 24% year-over-year (512 vs 674).

NEW LISTINGS / INVENTORY

• During the 12 months ending March 31st, 2024, a total of 1,058 new listings were added to the market, an increase of 19% vs the same time period 12 months ending March 31st, 2023.

• Available inventory as of March 31st, 2024 consisted of 664 units, a 65% increase vs the same time period in 2023 (664 vs 403). 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 $2,523,216, decreasing 1% vs the same time period in 2023.

• The median sales price for the area in March 2024 increased 6% to $1,850,000 vs March 2023.

market data: Southwest Florida MLS © 2024. 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.

*Source of this

YEAR-OVER-YEAR MARKET TRENDS NAPLES & BONITA SPRINGS

Single-Family Properties

Average Sales Price New Listings Closed Units

Condominium Properties Average Sales Price New Listings Closed Units 10,105 10,296 9,950 9,843 9,792 7,236 9,556 9,344 6,873 6,149 $692,170 $836,551 $1,024,395 $1,175,605 $1,167,980 2020 2021 2022 2023 2024 7,822 8,527 7,479 6,844 7,535 5,696 7,358 7,784 5,276 4,544 $444,303 $498,904 $612,823 $795,576 $800,275 2020 2021 2022 2023 2024

YEAR-OVER-YEAR MARKET TRENDS

Average Sales Price New Listings Closed Units Average Sales Price New Listings Closed Units *Source of this market data: Southwest Florida MLS © 2024. 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

Properties

MARKET

Condominium Properties 629 718 613 869 791 410 621 555 430 307 $3,637,054 $4,042,083 $5,247,177 $4,871,418 $4,430,106 2020 2021 2022 2023 2024 617 852 729 889 1,058 404 664 734 674 512 $2,159,091 $2,111,780 $2,406,377 $2,551,147 $2,523,216 2020 2021 2022 2023 2024

YEAR-OVER-YEAR MARKET TRENDS Single-Family

YEAR-OVER-YEAR

TRENDS

In U.S. Home Sales

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COMMUNITY SNAPSHOT REPORT

Single-Family Properties

Neighborhood Inventory Closed Sales Average Sales Price Months Of Supply % Change % Change % Change % Change Aqualane Shores 31 63% 12 -20% 31.0 331% $10,487,292 25% Bonita Bay 28 211% 55 20% 6.1 160% $1,849,877 -4% Collier’s Reserve 3 0% 13 18% 2.8 -15% $2,822,846 14% Fiddler's Creek 33 38% 74 -16% 5.4 64% $1,610,214 -8% Grey Oaks 20 67% 39 0% 6.2 67% $4,632,179 13% Isles of Collier Preserve 42 56% 99 52% 5.1 2% $1,614,224 -6% Kensington 2 0% 15 -17% 1.6 20% $1,651,000 12% Lely Resort 28 4% 108 -2% 3.1 6% $1,248,604 -6% Marco Island 216 33% 391 32% 7.4 37% $2,071,729 -2% Mediterra 18 39% 32 -22% 6.8 77% $3,830,302 1% Monterey 6 50% 12 -40% 6.0 150% $1,462,083 16% Naples Park 121 39% 106 -35% 13.7 114% $1,091,524 -1% Naples Reserve 27 35% 52 -24% 6.2 77% $1,193,846 0% Olde Naples 50 67% 34 -37% 17.7 165% $7,261,471 -7% Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront 94 16% 102 -18% 11.0 42% $4,490,896 20% Park Shore/Moorings/ Seagate/Coquina Sands Waterfront 25 -7% 25 -11% 12.0 4% $6,605,504 43% Pelican Bay 30 114% 36 -18% 10.0 162% $3,276,822 -16% Pelican Landing 19 217% 48 -6% 4.8 237% $1,315,360 -2% Pelican Marsh 11 57% 40 21% 3.3 30% $2,124,938 19% Pine Ridge 26 30% 18 -38% 17.3 109% $6,759,374 21% Port Royal 34 89% 12 -48% 34.0 262% $15,137,500 -24% Quail Creek 9 13% 16 -36% 6.8 76% $2,603,750 19% Quail West 17 31% 30 -17% 6.8 57% $4,847,394 12% Royal Harbor 21 50% 13 -38% 19.4 142% $4,772,654 -5% The Colony At Pelican Landing 2 100% 5 67% 4.8 20% $2,965,000 -22% Tiburon 4 100% 12 50% 4.0 33% $4,129,583 35% Vanderbilt Beach 32 52% 11 -56% 34.9 246% $4,440,909 9% Vineyards 16 14% 56 -15% 3.4 35% $1,242,723 1% 12 MONTHS ENDING MARCH, 2024

*Source of this market data: Southwest Florida MLS © 2024. 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 REPORT Condominiums Neighborhood Inventory Closed Sales Average Sales Price Months Of Supply % Change % Change % Change % Change Bonita Bay 61 177% 115 -5% 6.4 192% $1,587,853 -15% Fiddler's Creek 38 81% 62 -14% 7.4 110% $682,720 -1% Grey Oaks 4 300% 7 -42% 6.9 586% $2,417,571 17% Isles of Collier Preserve 6 200% 14 40% 5.1 114% $772,146 -1% Kensington 3 50% 14 -13% 2.6 71% $832,357 0% Lely Resort 43 65% 113 -7% 4.6 79% $571,580 4% Marco Island 269 84% 400 -5% 8.2 134% $1,001,411 13% Mediterra 6 50% 9 -50% 8.0 200% $1,596,667 5% Olde Naples 64 88% 87 -17% 8.8 127% $1,891,406 12% Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront 209 149% 258 -6% 9.7 163% $2,168,765 9% Park Shore/Moorings/ Seagate/Coquina Sands Waterfront 155 154% 192 -4% 9.7 163% $2,696,829 9% Pelican Bay 114 128% 222 -9% 6.2 151% $1,864,217 -4% Pelican Landing 10 100% 45 5% 2.7 91% $584,683 3% Pelican Marsh 14 100% 51 0% 3.3 100% $835,502 1% The Dunes of Naples 19 111% 20 -20% 11.4 164% $1,775,125 -11% Tiburon 8 60% 25 14% 3.8 41% $1,520,160 5% Vanderbilt Beach 60 161% 55 -7% 13.1 180% $1,428,395 6% Vineyards 21 40% 74 -20% 3.4 76% $709,032 10% 12 MONTHS ENDING MARCH, 2024

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

of Naples

BONITA BAY

GREY OAKS

Naples &

of Naples

ISLE OF COLLIER

Naples

KENSINGTON

Naples

LELY RESORT

Naples

MEDITERRA

Naples

MONTEREY

Naples

MOORINGS & COQUINA SANDS

of Naples

City

Bonita

North

Springs COLLIER’S RESERVE

Naples

South

City

South

PRESERVE

South

North

City

GOLF COURSE KEY PRICE RANGE 18 holes 27 holes 36 holes 54 holes 90 holes Dominant price less than $1M Dominant price $1M to $2M Dominant price over $2M $ $$ $$$ $$ $$ 18 $ 54 $$$ 36 $$ $$$ 18 $$$ 54 $$$ 18 $$ 90 $$$ *Source of this market data: Southwest Florida MLS © 2024. 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.

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

Neighborhood Golf Course Clubhouse Tennis Gated** Price Range Boating* Single-Family Condominium

North Naples

$$ $$$ $$$ $$$ $ $$$ $$ $$$ $$$ $$$ $$ $$ $ $ 36 $$$ 27 $$$ $$$ 36 18 36 36 36 18 *Source of this market data: Southwest Florida MLS © 2024. 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.

VINEYARDS North Naples

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