William Raveis Real Estate Phil Collins Luxury Market Report November 2023

NAPLES BONITA SPRINGS LUXURY PROPERTIES MARKET REPORT NOVEMBER 2023

NAPLES & BONITA SPRI NG S Single-Family Properties

CLOSED SALES •

The number of closed sales in the 12 months ending November 30th, 2023 for the Naples and Bonita Springs Area decreased 14% year-over-year (6,371 vs 7,443).

•

There were 25 closed sales priced above two million in November 2023 compared to 54 in November 2022; a 54% decrease. During the 12 months ending November 30th, 2023, sales in this category decreased 13% over the same time period in 2022 (712 vs 821 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending November 30th, 2023, a total of 9,135 new listings were added to the market, this is an 8% decrease vs the same time period 12 months ending November 30th, 2022.

•

Available inventory as of November 30th, 2023 consisted of 3,211 units, an increase of 11% vs the same time period in 2022. 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 $1,150,185, a 0.5% increase vs the same time period in 2022.

•

The median sales price for the area in November 2023 decreased 3% to $662,725 vs November 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 November 30th, 2023 for the Naples and Bonita Springs Area decreased 17% year-over-year (4,779 vs 5,774).

•

There were 26 closed sales priced above two million in November 2023 compared to 16 in November 2022; a 63% increase. During the 12 months ending November 30th, 2023, sales in this category increased 26% over the same time period in 2022 (446 vs 355 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending November 30th, 2023, a total of 6,921 new listings were added to the market, a 0.5% increase vs the same time period 12 months ending November, 2022.

•

Available inventory as of November 30th, 2023 consisted of 2,438 units, an increase of 42% vs the same time period in 2022. 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 $824,687, a 17% increase vs the same time period in 2022.

•

The median sales price for the area in November 2023 increased 4% to $448,950 vs November 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.

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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 November 30th, 2023 for the luxury market from Port Royal to Bonita Beach Road Area decreased 21% yearover-year (350 vs 442).

NEW LISTINGS / INVENTORY •

During the 12 months ending November 30th, 2023, a total of 809 new listings were added to the market, an increase of 6% compared to the same time period 12 months ending November 30th, 2022.

•

Available inventory as of November 30th, 2023 consisted of 414 units, a 30% increase vs the same time period in 2022 (414 vs 319). Current inventory represents 35 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $4,415,026 a decrease of 16% vs the same time period in 2022.

•

The median sales price for the area in November 2023 decreased 21% to $1,873,573 vs November 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 November 30th, 2023 for the luxury market from Port Royal to Bonita Beach Road Area increased 10% yearover-year (645 vs 589).

NEW LISTINGS / INVENTORY •

During the 12 months ending November 30th, 2023, a total of 1,103 new listings were added to the market, an increase of 57% vs the same time period 12 months ending November 30th, 2022.

•

Available inventory as of November 30th, 2023 consisted of 454 units, a 99% increase vs the same time period in 2022 (454 vs 228). 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 $2,394,207, decreasing 7% vs the same time period in 2022.

•

The median sales price for the area in November 2023 decreased 28% to $1,665,000 vs November 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

$1,144,839

$1,150,185

$983,085

$682,527

$744,500 10,363

10,204

10,240

10,262

9,963

9,135

8,392

7,443

6,643

2019

2020

2021

6,371

2022

2023

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

New Listings

Closed Units

$824,687 $705,189 $556,986 $432,849

$483,656 9,014

8,314

8,038 5,319

2019

7,922 5,914

2020

2021

6,883

5,774

2022

6,921 4,779

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

$5,227,320 $4,780,899 $3,877,708

$3,550,328

698

632

$4,415,026

654

809

760

684

487

442

357

2019

2020

2021

350

2022

2023

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

New Listings

Closed Units

$2,583,419 $2,084,744

$2,120,037

$2,394,207

$2,271,513

1,103 783

815

738

630

702

645

589

513 359

2019

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

30

77%

14

-13%

12.4

130%

$9,228,393

-2%

Bonita Bay

20

186%

50

19%

3.9

255%

$2,094,695

-5%

Collier’s Reserve

2

-60%

12

0%

1.6

46%

$2,644,583

15%

Grey Oaks

17

89%

33

-25%

4.4

76%

$4,443,000

-2%

Isles of Collier Preserve

23

15%

49

23%

6.5

171%

$2,060,741

-10%

Kensington

3

0%

16

0%

1.0

11%

$1,681,344

28%

Lely Resort

30

-3%

91

-9%

2.5

9%

$1,367,302

5%

Mediterra

23

53%

32

-26%

4.5

96%

$3,931,056

19%

Monterey

5

67%

16

0%

2.2

69%

$1,585,156

20%

Naples Park

128

58%

106

-48%

9.2

217%

$1,050,381

4%

Naples Reserve

17

29%

54

-5%

4.4

120%

$1,348,157

8%

Olde Naples

46

28%

46

-12%

8.5

107%

$7,147,913

-11%

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

63

31%

82

-9%

8.2

58%

$3,885,940

2%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

24

-39%

28

0%

11.6

53%

$5,355,450

-18%

Pelican Bay

27

93%

33

-13%

7.2

300%

$3,741,628

-21%

Pelican Landing

19

171%

39

-17%

2.7

108%

$1,400,604

-1%

Pelican Marsh

13

63%

31

-18%

3.5

192%

$2,226,661

10%

Pine Ridge

24

71%

26

18%

7.0

25%

$6,591,067

29%

Port Royal

32

113%

15

-42%

12.7

189%

$16,790,000

-15%

Quail Creek

10

-23%

16

-47%

3.4

36%

$2,298,675

7%

Quail West

14

40%

31

-24%

5.8

190%

$4,709,293

16%

Royal Harbor

18

-5%

18

-31%

8.2

78%

$4,323,835

-16%

The Colony At Pelican Landing

3

50%

10

67%

1.1

450%

$2,446,500

-2%

Tiburon

4

33%

8

33%

4.1

356%

$4,076,875

53%

Vanderbilt Beach

32

7%

13

-41%

15.2

246%

$3,786,538

-4%

Vineyards

16

7%

63

9%

1.8

0%

$1,271,349

2%

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

56

211%

125

-7%

4.4

300%

$1,934,459

57%

Grey Oaks

4

-

6

-65%

1.0

100%

$2,231,500

18%

Isles of Collier Preserve

23

130%

50

14%

4.3

193%

$898,904

-5%

Kensington

1

-67%

18

20%

1.3

44%

$826,083

10%

Lely Resort

40

43%

131

-26%

3.1

182%

$573,770

8%

Mediterra

10

150%

10

-57%

3.1

139%

$1,586,000

26%

Olde Naples

62

55%

96

-24%

5.4

135%

$1,684,716

5%

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

54

170%

73

-25%

7.1

318%

$742,973

16%

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

160

220%

191

-27%

6.6

313%

$2,332,888

1%

Pelican Bay

131

134%

250

-6%

4.0

264%

$1,898,926

0%

Pelican Landing

9

80%

57

6%

2.0

186%

$591,500

8%

Pelican Marsh

11

10%

57

-10%

1.7

89%

$790,640

1%

The Dunes of Naples

22

120%

19

-37%

6.4

327%

$1,949,737

-1%

Tiburon

4

-33%

27

-7%

2.6

100%

$1,571,074

30%

Vanderbilt Beach

64

178%

50

-47%

10.0

488%

$1,395,103

-2%

Vineyards

17

42%

78

-30%

2.1

75%

$713,234

16%

*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.

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