William Raveis September 2019 Market Report

SEPTEMBER 2019 LUXURY PROPERTIES MARKET REPORT Naples / Bonita Springs / Estero

NAPLES, BONITA SPRINGS AND ESTERO – SINGLE FAMILY PROPERTIES CLOSED SALES •

The number of closed sales in the 12 months ending September 30, 2019 for the Naples, Bonita Springs and Estero Area increased 6% year-over-year (7,359 vs 6,957).

•

There were 15 closed sales, priced above two million, in September 2019 compared to 29 in September 2018 a 48% decrease. During the 12 months ending September 30, 2019, sales in this category decreased 9% over the same time period in 2018 (372 vs 407).

NEW LISTINGS / INVENTORY •

During the 12 months ending September 30, 2019, a total of 11,383 new listings were added to the market, this is relatively flat vs. the same time period 12 months ending September 30, 2018.

•

Available inventory as of September 30, 2019 consisted of 4,491 units, a decrease of 6% vs the same time period in 2018. Current inventory represents 9 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $669,224 which remained relatively the same with a decrease of less than 3% vs. the same time period in 2018.

•

The median sales price for the area decreased 2% to $384,833 from $392,588 in 2018.

NAPLES, BONITA SPRINGS AND ESTERO – CONDOMINIUMS CLOSED SALES •

The number of closed sales in the 12 months ending September 30, 2019 for the Naples, Bonita Springs and Estero Area was unchanged year-over-year (5,792 vs 5,799).

•

There were 6 closed sales priced above two million in September 2019, the same number as September 2018. During the 12 months ending September 30, 2019, sales in this category increased 4% over the same time period in 2018 (125 vs 120 units).

NEW LISTINGS / INVENTORY •

During the 12 months ending September 30, 2019, a total of 6,469 new listings were added to the market, a 6% decrease vs. the same time period 12 months ending September 30, 2018.

•

Available inventory as of September 30, 2019 consisted of 3,416 units, a decrease of 6% vs the same time period in 2018. 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 $415,230, a decrease of 3% vs the same time period in 2018.

•

The median sales price for the area remained relatively the same with a decrease of 2% to $245,860 vs. 2018.

* The source of this market data is the Southwest Florida MLS, Copyright 2019. 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 AREA – SINGLE FAMILY PROPERTIES CLOSED SALES •

The number of closed sales in the 12 months ending September 30, 2019 for the luxury market from Port Royal to Bonita Beach Area decreased 4% year-over-year (399 vs 416).

NEW LISTINGS / INVENTORY •

During the 12 months ending September 30, 2019, a total of 619 new listings were added to the market, this is approximately 3% fewer listings than the same time period 12 months ending September 30, 2018.

•

Available inventory as of September 30, 2019 consisted of 436 units, a decrease of 3% vs the same time period in 2018. 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 $3,508,154, which increased 11% vs the same time period in 2018.

•

The median sales price for the area increased 12% to $2,530,666 from $2,255,833.

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

The number of closed sales in the 12 months ending September 30, 2019 for the luxury market from Port Royal to Bonita Beach Area increased 18% year-over-year (337 vs 286).

NEW LISTINGS / INVENTORY •

During the 12 months ending September 30, 2019, a total of 477 new listings were added to the market, a decrease of 9% vs the same time period 12 months ending September 30, 2018.

•

Available inventory as of September 30, 2019 consisted of 354 units, an increase of 4% vs the same time period in 2018. Current inventory represents 11 months of supply based on current absorption rates.

AVERAGE & MEDIAN SALES PRICE •

The year-over-year average sales price for the area was $1,931,934, which remained unchanged vs. the same time period in 2018.

•

The median sales price for the area decreased 4% to $1,538,583 from $1,600,055.

* The source of this market data is the Southwest Florida MLS, Copyright 2019. 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, Bonita Springs and Estero - Single Family Properties 12,000 New Listings

10,000

2015 ---------------- 10,744 2016 ---------------- 11,466 2017 ---------------- 10,869 2018 ---------------- 11,455 2019 ---------------- 11,383

8,000

6,000 Closed Units

4,000

2015 ---------------- 7,296 2016 ---------------- 6,584 2017 ---------------- 6,912 2018 ---------------- 6,957 2019 ---------------- 7,359

2,000 0

2015

2016

2017

2018

2019

Naples, Bonita Springs and Estero - Condominiums 10,000

New Listings 2015 ----------------- 8,154 2016 ----------------- 9,010 2017 ----------------- 8,703 2018 ----------------- 9,254 2019 ----------------- 8,918

8,000

6,000

Closed Units

4,000

2015 ----------------- 6,408 2016 ----------------- 5,383 2017 ----------------- 5,511 2018 ----------------- 5,799 2019 ----------------- 5,792

2,000

0

2015

2016

2017

2018

2019

* The source of this market data is the Southwest Florida MLS, Copyright 2019. 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, Bonita Springs and Estero - Single Family Properties $800,000 $700,000 $600,000

$610K

$621K

$628K

2015

2016

2017

$663K

$656K

2018

2019

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

$500,000

Naples, Bonita Springs and Estero - Condominiums

$400,000 $371K

$380K

$395K

$415K

$413K

2018

2019

$300,000

$200,000

$100,000

0

2015

2016

2017

* The source of this market data is the Southwest Florida MLS, Copyright 2019. 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 Area (West of 41) Single Family Properties $1M+ 800

New Listings 2015 -----------------2016 -----------------2017 -----------------2018 -----------------2019 ------------------

700 600

725 790 715 723 723

500 400 Closed Units

300

2015 ------------------ 388 2016 ------------------ 368 2017 ------------------ 373 2018 ------------------ 416 2019 ------------------ 399

200

0

700

2015

2016

2017

2018

2019

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

600

New Listings

500

2015 ------------------ 3 92 2016 ------------------ 485 2017 ------------------ 498 2018 ------------------ 5 1 1 2019 ------------------ 540

400 300

Closed Units 2015 ------------------ 311 2016 ------------------ 262 2017 ------------------ 275 2018 ------------------ 286 2019 ------------------ 337

200 100

2015

2016

2017

2018

2019

* The source of this market data is the Southwest Florida MLS, Copyright 2019. 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 Area (West of 41) Single Family Properties ($1M+) $4,000,000 $3,500,000 $3,000,000

$3.597M $3.197M

$3.104M

$3.187M

2016

2017

$3.044M

$2,500,000 $2,000,000 $1,500,000

0

2015

2018

2019

Luxury Property Market - Port Royal to Bonita Beach Area (West of 41) Condominiums ($1M+) $2,500,000 $2,000,000 $2.013M

$2.033M

$1.980M

$1.944M

$2.011M

2015

2016

2017

2018

2019

$1,500,000

$1,000,000

$500,000

0

* The source of this market data is the Southwest Florida MLS, Copyright 2019. 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

Naples, Bonita Springs and Estero Market Area 12-Month Sold Comparison Report for Select Communities

Single Family Homes ACTIVE LISTINGS

CLOSED PAST 12 MONTHS

MONTHS OF SUPPLY

Aqualane Shores

18

20

15

$3,692,515

Audubon

31

22

19

$1,047,208

Barefoot Beach

17

12

22

$3,352,956

Bonita Bay

19

16

15

$876,708

The Brooks

2

13

9

$325,600

Colliers Reserve

11

13

18

$1,023,833

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

95

104

12.5

$2,081,120

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

20

29

12

$3,253,370

Crossings

7

15

7

$533,000

Grey Oaks

51

38

18

$1,902,970

Kensington

9

16

10

$582,510

Lely Resort

83

114

12

$602,776

Mediterra

59

40

19

$1,586,800

Monterey

15

24

18

$619,113

Olde Naples

64

77

14

$3,908,955

Palmira Golf & Country Club

24

33

12

$515,000

Pelican Bay

39

58

12

$2,272,603

Pelican Landing

37

64

9

$821,955

Pelican Landing (The Colony)

12

7

23

$784,583

Pelican Marsh

33

39

12

$782,955

Pelican Sound

0

5

2

$238,290

Pine Ridge

40

32

14

$1,424,962

Port Royal

42

39

17

$9,136,420

Quail Creek

16

26

10

$1,020,000

Quail West

51

52

16

$1,885,115

Royal Harbor

21

25

16

$1,563,764

Tiburon

8

8

13

$1,341,500

Vanderbilt Beach

29

28

16

$1,937,725

Vineyards

41

68

10

$684,492

West Bay Club

19

18

14

$1,214,546

Monthly Snapshot as of September 30, 2019

AVERAGE CLOSED PRICE

* The source of this market data is the Southwest Florida MLS, Copyright 2019. 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 Naples, Bonita Springs and Estero Market Area 12-Month Sold Comparison Report for Select Communities

CONDOMINIUMS ACTIVE LISTINGS

CLOSED PAST 12 MONTHS

MONTHS OF SUPPLY

6

17

6

$1,614,063

Bonita Bay

82

120

10

$876,868

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

45

57

10

$387,733

Park Shore/Moorings/ Seagate/Coquina Sands Waterfront

163

282

10

$1,362,820

The Dunes

25

36

12

$1,218,106

Grey Oaks

6

15

8

$904,708

Monthly Snapshot as of September 30, 2019 Barefoot Beach

AVERAGE CLOSED PRICE

Kensington

9

20

8

$469,273

Lely Resort

111

161

10

$313,494

Mediterra

17

12

14

$584,475

Monterey

0

1

3

$315,000

Olde Naples

81

110

12

$1,082,240

Palmira Golf & Country Club

14

18

12

$301,631

Pelican Bay

169

239

10

$1,350,082

Pelican Landing

26

79

7

$324,730

Pelican Marsh

37

89

9

$390,641

Pelican Sound

11

64

5

$284,920

Pine Ridge

8

14

10

$179,375

Tiburon

24

36

8.5

$759,950

Vanderbilt Beach

83

86

15

$781,544

Vineyards

71

117

11

$362,995

West Bay Club

14

18

7

$585,954

* The source of this market data is the Southwest Florida MLS, Copyright 2019. 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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