William Raveis Real Estate November 2020 Market Report

MANAGED BY BY MANAGED

NOVEMBER 2020 LUXURY PROPERTIES MARKET REPORT RE EA AL L E ES ST TA AT TE E R

Naples | Bonita Springs

NAPLES AND BONITA SPRINGS – SINGLE FAMILY PROPERTIES CLOSED SALES •

The number of closed sales in the 12 months ending November 30, 2020 for the Naples and Bonita Springs Area increased 24% year-over-year (8,250 vs 6,643).

•

There were 61 closed sales, priced above two million, in November 2020 compared to 24 in November 2019, a 154% increase. During the 12 months ending November 30, 2020, sales in this category increased 57% over the same time period in 2019 (559 vs 356).

NEW LISTINGS / INVENTORY •

During the 12 months ending November 30, 2020, a total of 10,222 new listings were added to the market, this is an increase of less than 1% vs the same time period 12 months ending November 30, 2019.

•

Available inventory as of November 30, 2020 consisted of 3,503 units, a decrease of 23% vs the same time period in 2019. Current inventory represents 4.6 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $747,621 a 10% increase vs the same time period in 2019.

•

The median sales price for the area in November 2020 increased 19% to $470,000 vs November 2019.

NAPLES AND BONITA SPRINGS – CONDOMINIUMS CLOSED SALES •

The number of closed sales in the 12 months ending November 30, 2020 for the Naples and Bonita Springs Area increased 11% year-over-year (5,876 vs 5,316).

•

There were 11 closed sales priced above two million compared to 5 in November 2019, a 120% increase. During the 12 months ending November 30, 2020, sales in this category increased 49% vs the same time period in 2019 (216 vs 145 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending November 30, 2020, a total of 8,212 new listings were added to the market, a 2% increase vs the same time period 12 months ending November 30, 2019.

•

Available inventory as of November 30, 2020 consisted of 3,248 units, a decrease of 10% vs the same time period in 2019. Current inventory represents 5.5 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $483,107 an increase of 12% vs the same time period in 2019.

•

The median sales price for the area in November 2020 increased 8% to $277,500 vs November 2019.

* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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 MARKET $1M+ (WEST OF 41) PORT ROYAL TO BONITA BEACH ROAD AREA – SINGLE FAMILY PROPERTIES CLOSED SALES •

The number of closed sales in the 12 months ending November 30, 2020 for the luxury market from Port Royal to Bonita Beach Road Area increased 36% year-over-year (484 vs 357).

NEW LISTINGS / INVENTORY •

During the 12 months ending November 30, 2020, a total of 690 new listings were added to the market, an increase of 9% compared to the same time period 12 months ending November 30, 2019.

•

Available inventory as of November 30, 2020 consisted of 333 units, a decrease of 13% vs the same time period in 2019 (333 vs 383). Current inventory represents 7.7 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $3,558,442, a decrease of 8% vs the same time period in 2019.

•

The median sales price for the area in November 2020 increased 25% to $3,125,000 vs November 2019.

LUXURY MARKET $1M+ (WEST OF 41) PORT ROYAL TO BONITA BEACH ROAD AREA - CONDOMINIUMS CLOSED SALES •

The number of closed sales in the 12 months ending November 30, 2020 for the luxury market from Port Royal to Bonita Beach Road Area increased 43% year-over-year (512 vs 359).

NEW LISTINGS / INVENTORY •

During the 12 months ending November 30, 2020, a total of 767 new listings were added to the market, an increase of 22% vs the same time period 12 months ending November 30, 2019.

•

Available inventory as of November 30, 2020 consisted of 331 units, a 10% decrease vs the same time period in 2019. Current inventory represents 8.5 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $2,110,792, remaining relatively the same with an increase of 1% vs the same time period in 2019.

•

The median sales price for the area in November 2020 increased 17% to $1,550,000 vs November 2019.

* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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.

New Listings | Closed Units 12 Month Comparisons Naples and Bonita Springs - Single Family Properties 12,000

New Listings

10,000

2016 ---------------- 10,295 2017 ---------------- 9,431 2018 ---------------- 10,509 2019 ---------------- 10,205 2020 --------------- 10,222

8,000

6,000

Closed Units

4,000

2016 ---------------- 5,845 2017 ---------------- 6,115 2018 ----------------- 6,287 2019 ---------------- 6,643 2020 --------------- 8,250

2,000

0 2016

2017

2018

2019

2020

Naples and Bonita Springs - Condominiums 10,000

New Listings 2016 ----------------- 8,252 2017 ----------------- 7,853 2018 ----------------- 8,492 2019 ----------------- 8,034 2020 ----------------- 8,212

8,000

6,000

Closed Units

4,000

2016 ----------------- 4,814 2017 ----------------- 4,842 2018 ----------------- 5,284 2019 ----------------- 5,316 2020 ----------------- 5,876

2,000

0 2016

2017

2018

2019

2020

* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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.

Average Sales Price 12 Month Comparisons Naples and Bonita Springs - Single Family Properties $800,000 $700,000

$748K $697K

$600,000

$631K

$657K

$683K

$500,000 $400,000 $300,000 $200,000

2016

2017

2018

2019

2020

Naples and Bonita Springs - Condominiums $500,000

$483K $445K

$400,000

$432K $398K

$408K

$300,000

$200,000

$100,000

0

2016

2017

2018

2019

2020

* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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.

New Listings | Closed Units 12 Month Comparisons Luxury Property Market - Port Royal to Bonita Beach Road Area (West of 41) Single Family Properties $1M+ 800

New Listings

700

2016 ---------------- 689 2017 ---------------- 594 2018 ---------------- 664 2019 ---------------- 633 2020 --------------- 690

600 500 400

Closed Units

300

2016 ---------------- 289 2017 ---------------- 324 2018 ----------------- 363 2019 ---------------- 357 2020 --------------- 484

200

0

2016

2017

2018

2019

2020

Luxury Property Market - Port Royal to Bonita Beach Road Area (West of 41) Condominiums $1M+ New Listings

800

2016 ---------------- 596 2017 ---------------- 562 2018 ---------------- 661 2019 ---------------- 630 2020 --------------- 767

700 600 500 400

Closed Units 2016 ---------------- 285 2017 ---------------- 325 2018 ----------------- 449 2019 ---------------- 359 2020 --------------- 512

300 200

0

2016

2017

2018

2019

2020

* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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.

Average Sales Price 12 Month Comparisons Luxury Property Market - Port Royal to Bonita Beach Road Area (West of 41) Single Family Properties ($1M+) $4,500,000

$4,000,000

$3.878M

$3,500,000

$3,000,000

$3.205M

$3.286M

$3.558M

$3.448M

$2,500,000

$2,000,000

$1,500,000 0 2016

2017

2018

2019

2020

Luxury Property Market - Port Royal to Bonita Beach Road Area (West of 41) Condominiums ($1M+) $2,500,000

$2,000,000

$1.994M

$1.894M

$1.969M

$2.085M

$2.111M

$1,500,000

$1,000,000

$500,000

0

2016

2017

2018

2019

2020

* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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 Snapshot Report Single Family Properties

Monthly Snapshot as of November 30, 2020

ACTIVE LISTINGS

% CHANGE

CLOSED PAST % MONTHS OF 12 MONTHS CHANGE SUPPLY

% CHANGE

AVERAGE CLOSED PRICE

% CHANGE

Aqualane Shores

21

-22%

35

+119%

10.5

-15%

$4,920,573

+6%

Bonita Bay

27

-31%

58

-12%

6.3

-7%

$1,362,946

+31%

Collier’s Reserve

4

-67%

20

+43%

6.1

-41.3%

$1,554,845

+9%

Grey Oaks

20

-62%

69

+82%

9.3

-40%

$2,614,915

+1%

Isles of Collier Preserve

10

-33%

58

+38%

5.7

-12%

$1,076,661

+16%

Kensington

3

-70%

15

-17%

4.1

-34%

$780,294

-14%

Lely Resort

49

-49%

137

+36%

9.8

-15%

$674,217

+10%

Mediterra

34

-48%

52

+33%

11.1

-28%

$2,057,397

-9%

Monterey

7

-30%

21

-5%

4.3

-30%

$834,548

+10%

Naples Park

38

-46%

188

+23%

5.1

-34%

$486,568

+13%

Naples Reserve

19

-70%

127

+43%

6.1

-28%

$562,678

+10%

Olde Naples

39

-39%

89

+18.7%

9.1

-36%

$3,929,444

-5%

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

50

-41%

128

+20%

9.0

-24%

$2,069,682

-1%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

10

-60%

38

+15%

6.8

-32.5%

$3,827,455

+10%

Pelican Bay

25

-44%

60

+28%

9.0

-19%

$3,054,473

+24%

Pelican Landing

14

-66%

57

+2%

7.7

-14%

$744,491

-9%

Pelican Marsh

18

-49%

57

+30%

6.8

-33%

$1,133,467

+17%

Pine Ridge

21

-51%

52

+93%

11.5

+5%

$ 2,265,894

+25%

Port Royal

29

-37%

40

+5%

13.9

-10%

$8,764,250

-8%

Quail Creek

11

-27%

22

-8%

5.8

-27%

$1,140,250

-2%

Quail West

16

-68%

69

+28%

9.4

-27%

$2,170,429

+19%

Royal Harbor

18

-44%

48

+78%

10.4

-13%

$2,629,208

+25%

The Colony At Pelican Landing

11

-27%

13

+117%

12.1

-14%

$1,608,385

-4%

Tiburon

3

-67%

16

+60%

4.7

+21%

$1,935,562

+52%

Vanderbilt Beach

17

-47%

43

+48%

9.5

-30%

$2,036,822

+12%

Vineyards

7

-85%

83

+24%

6.4

-27%

$699,836

+4%

* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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 Snapshot Report Condominiums

Monthly Snapshot as of November 30, 2020

ACTIVE LISTINGS

% CHANGE

CLOSED PAST % 12 MONTHS CHANGE

MONTHS OF % AVERAGE SUPPLY CHANGE CLOSED PRICE

% CHANGE

Bonita Bay

70

-15%

134

no change

8.3

+1%

$802,739

+3%

Grey Oaks

2

-67%

9

-31%

2.6

-50

$1,009,544

+16%

Isles of Collier Preserve

7

-71%

44

+42%

5.9

-30%

$521,612

+5%

Kensington

15

+7%

15

-12%

12.5

+141%

$431,393

-8%

Lely Resort

62

-46%

175

-9%

6.3

-39%

$311,234

-1%

Mediterra

11

-45%

17

+31%

12.1

+12%

$561,441

-6%

Olde Naples

71

-26%

126

+15%

8.6

-25%

$918,796

-12%

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

33

-38%

94

+54%

8.7

+6%

$432,989

+8%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

177

-26%

320

+7%

9.2

-3%

$1,410,069

+10%

Pelican Bay

127

-38%

299

+19%

8.3

-11%

$1,158,738

-22%

Pelican Landing

24

-42%

94

+13%

5.6

-28%

$347,756

+7%

Pelican Marsh

23

-57%

86

-6%

6.4

-28%

$400,317

+9%

Pine Ridge

3

-67%

22

+38%

3.9

-46%

$212,705

-5%

The Dunes of Naples

20

-26%

25

-31%

11

-35%

$1,087,217

-8%

Tiburon

20

+11%

40

no change

7.1

+16%

$792,119

+9%

Vanderbilt Beach

51

-36%

100

+9%

10.3

-20%

$999,962

+25%

Vineyards

39

-46%

133

+6%

5.6

-38%

$372,159

+8%

* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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 Guide LOCATIONS:

HOME STYLE:

City of Naples North Naples (North of Pine Ridge Rd.) South Naples (South of Pine Ridge Rd.) Marco Area

GOLF COURSES |

18 holes

PRICE RANGE:

| Single Family Home

| Dominant price less than $500,000

| Condominium

| Dominant price $500,000 - $1,000,000 | Dominant price over $1,000,000

27 holes

36 holes

54 holes

90 holes

BOATING | Many properties are boating oriented (have a dock or there is a community dock/marina) GATED | May or may not be manned by a security guard

COMMUNITY

HOME STYLE

GOLF COURSE

BOATING COMMUNITY

CLUB HOUSE

TENNIS

GATED

PRICE RANGE

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

MEDITERRA North Naples

MONTEREY North Naples

MOORINGS & COQUINA SANDS City of Naples

NAPLES PARK North Naples

NAPLES RESERVE South Naples

* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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 Guide COMMUNITY

HOME STYLE

GOLF COURSE

BOATING COMMUNITY

CLUB HOUSE

TENNIS

GATED

PRICE RANGE

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

* The source of this market data is the Southwest Florida MLS, Copyright 2020. 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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