William Raveis Real Estate Luxury Market Report February 2023 by raveis7

NAPLES BONITA SPRINGS

LUXURY PROPERTIES MARKET REPORT

FEBRUARY 2023

NAPLES & BONITA SPRINGS

Single-Family Properties

CLOSED SALES

• The number of closed sales in the 12 months ending February 28, 2023 for the Naples and Bonita Springs Area decreased 28% year-over-year (6,928 vs 9,647).

• There were 51 closed sales priced above two million in February 2023 compared to 52 in February 2022; a 2% decrease. During the 12 months ending February 28, 2023, sales in this category decreased 14% over the same time period in 2022 (801 vs 929 units).

NEW LISTINGS / INVENTORY

• During the 12 months ending February 28, 2023, a total of 9,936 new listings were added to the market, this is a 0.4% increase vs the same time period 12 months ending February 28, 2022.

• Available inventory as of February 28, 2023 consisted of 3,222 units, an increase of 32% 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 $1,182,674, a 16% increase vs the same time period in 2022.

• The median sales price for the area in February 2023 increased 4% to $677,000 vs February 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 February 28, 2023 for the Naples and Bonita Springs Area decreased 36% year-over-year (5,339 vs 8,296).

• There were 33 closed sales priced above two million in February 2023 compared to 26 in February 2022, a 27% increase. During the 12 months ending February 28, 2023, sales in this category increased 26% over the same time period in 2022 (447 vs 354 units).

NEW LISTINGS / INVENTORY

• During the 12 months ending February 28, 2023, a total of 6,874 new listings were added to the market, a 9% decrease vs the same time period 12 months ending February 28, 2022.

• Available inventory as of February 28, 2023 consisted of 2,307 units, an increase of 32% vs the same time period in 2022. 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 $774,891, a 30% increase vs the same time period in 2022.

• The median sales price for the area in February 2023 increased 16% to $475,000 vs February 2022.

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PORT ROYAL to BONITA BEACH ROAD AREA

Single-Family Properties

• The number of closed sales in the 12 months ending February 28, 2023 for the luxury market from Port Royal to Bonita Beach Road Area decreased 27% year-overyear (439 vs 600).

NEW LISTINGS / INVENTORY

• During the 12 months ending February 28, 2023, a total of 859 new listings were added to the market, an increase of 37% compared to the same time period 12 months ending February 28, 2022.

• Available inventory as of February 28, 2023 consisted of 428 units, a 70% increase vs the same time period in 2022 (428 vs 252). 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 $4,976,936 a decrease of 4% vs the same time period in 2022.

• The median sales price for the area in February 2023 decreased 28% to $3,586,571 vs February 2022.

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

PORT ROYAL to BONITA BEACH ROAD AREA

Condominiums

• The number of closed sales in the 12 months ending February 28, 2023 for the luxury market from Port Royal to Bonita Beach Road Area decreased 13% year-over-year (667 vs 771).

NEW LISTINGS / INVENTORY

• During the 12 months ending February 28, 2023, a total of 885 new listings were added to the market, an increase of 22% vs the same time period 12 months ending February 28, 2022.

• Available inventory as of February 28, 2023 consisted of 352 units, a 43% increase vs the same time period in 2022 (352 vs 247). 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 $2,534,933, increasing 6% vs the same time period in 2022.

• The median sales price for the area in February 2023 decreased 9% to $1,962,500 vs February 2022.

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

NAPLES & BONITA SPRINGS

MARKET TRENDS

Single-Family Properties Average Sales Price New Listings Closed Units

Condominium Properties Average Sales Price New Listings Closed Units 10,439 10,169 10,067 9,895 9,936 6,287 7,068 9,207 9,647 6,928 $706,150 $682,480 $811,348 $1,017,435 $1,182,674 2019 2020 2021 2022 2023 8,395 7,945 8,212 7,518 6,874 5,082 5,607 6,798 8,296 5,339 $420,587 $437,225 $497,770 $597,799 $774,891 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 666 636 669 626 859 354 388 580 600 439 $3,859,772 $3,610,445 $3,920,958 $5,210,864 $4,976,936 2019 2020 2021 2022 2023 626 625 784 726 885 333 381 614 771 667 $1,999,466 $2,125,125 $2,118,291 $2,377,445 $2,534,933 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 30 200% 19 -57% 7.4 311% $9,045,263 43% Bonita Bay 12 200% 41 -49% 1.6 78% $2,222,604 23% Collier’s Reserve 3 - 9 -36% 1.9 1800% $2,502,222 48% Grey Oaks 9 125% 37 -33% 3.0 275% $4,531,513 35% Isles of Collier Preserve 30 900% 32 -52% 4.4 633% $2,315,356 52% Kensington 2 100% 17 -6% 0.7 75% $1,330,744 25% Lely Resort 17 183% 99 -44% 2.8 300% $1,364,901 49% Mediterra 16 700% 37 -46% 3.4 278% $3,649,230 45% Monterey 3 - 17 -49% 1.7 325% $1,321,824 24% Naples Park 103 312% 172 -33% 4.2 282% $1,095,412 61% Naples Reserve 23 229% 50 -55% 3.0 400% $1,345,796 45% Olde Naples 44 132% 56 -40% 5.3 152% $7,704,388 50% Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront 70 89% 84 -37% 6.6 200% $3,715,765 18% Park Shore/Moorings/ Seagate/Coquina Sands Waterfront 34 127% 29 -26% 9.1 176% $5,691,034 11% Pelican Bay 14 100% 34 -53% 2.7 108% $4,854,916 22% Pelican Landing 5 0% 17 0% 1.4 250% $1,206,324 -8% Pelican Marsh 6 100% 33 -53% 1.8 200% $1,988,682 9% Pine Ridge 20 82% 31 -14% 6.3 232% $5,672,032 60% Port Royal 25 150% 24 -48% 5.6 211% $19,701,045 42% Quail Creek 7 0% 27 -16% 2.9 142% $2,176,548 33% Quail West 18 350% 38 -41% 3.1 210% $4,264,875 45% Royal Harbor 19 217% 22 -39% 5.8 190% $5,334,342 44% The Colony At Pelican Landing 1 - 6 -57% 0.4 -33% $2,655,833 60% Tiburon 4 300% 6 -63% 1.5 200% $3,191,833 19% Vanderbilt Beach 34 240% 24 -35% 6.8 278% $3,940,858 27% Vineyards 7 75% 56 -30% 2.0 100% $1,315,567 45%

Condominiums Neighborhood Active Listings Closed Past 12 Months Average Closed Price Months Of Supply % Change % Change % Change % Change Bonita Bay 40 264% 121 -36% 1.6 46% $1,682,819 59% Grey Oaks 0 - 13 -24% 0.6 50% $1,988,077 57% Isles of Collier Preserve 14 367% 38 -21% 2.3 360% $959,520 37% Kensington 4 100% 15 -53% 1.2 200% $819,800 57% Lely Resort 29 22% 148 -44% 1.6 100% $557,173 46% Mediterra 3 0% 21 -30% 1.7 240% $1,454,000 107% Olde Naples 40 38% 108 -45% 2.9 32% $1,680,216 40% Park Shore/Moorings/ Seagate/Coquina Sands Non-Waterfront 34 325% 84 -42% 2.5 178% $667,312 7% Park Shore/Moorings/ Seagate/Coquina Sands Waterfront 86 219% 212 -50% 2.3 130% $2,322,558 26% Pelican Bay 75 582% 241 -46% 1.8 157% $1,941,564 28% Pelican Landing 8 - 21 -22% 1.5 400% $551,162 8% Pelican Marsh 6 100% 59 -43% 1.1 175% $802,220 52% The Dunes of Naples 15 275% 30 -43% 2.6 160% $2,042,826 59% Tiburon 7 - 25 -49% 1.8 800% $1,365,980 42% Vanderbilt Beach 25 92% 70 -61% 2.3 77% $1,417,842 7% Vineyards 16 220% 98 -40% 1.5 150% $638,450 36%

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 $$$ $$$ 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