Laura Georgelos - Luxury Market Report - Feb 2019

NA P L E S F LO R I D A –February 2019–

www.LuxuryHomeMarketing.com

NAPLES

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | JANUARY 2019 Inventory

Sales

Luxury Benchmark Price 1: $895,000 $5,000,000+ $4,500,000 - $4,999,999 $4,000,000 - $4,499,999 $3,600,000 - $3,999,999

$1,600,000 - $1,799,999 $1,400,000 - $1,599,999

$1,200,000 - $1,399,999

Buyer's Market

49

Total Sales Ratio2: 5%

45

3 22

5

44

5

49

0 37

1

59

1

36

1

48

2

110

3

$1,000,000 - $1,199,999 $895,000 - $999,999

Total Sales: 44

1

$2,600,000 - $2,899,999

$1,800,000 - $1,999,999

Total Inventory: 876 36

1

$2,900,000 - $3,199,999

$2,000,000 - $2,299,999

29

3

$3,200,000 - $3,599,999

$2,300,000 - $2,599,999

131

8

105

6

76

4

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 1,999

$1,237,500

3

2

2

65

3%

2,000 - 2,999

$1,092,500

4

3

6

162

4%

3,000 - 3,999

$2,290,000

4

4

15

279

5%

4,000 - 4,999

$3,400,000

4

6

13

187

7%

5,000 - 5,999

$3,850,000

5

6

4

78

5%

6,000+

$10,417,500

5

7

4

105

4%

The luxury threshold price is set in July of each year by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's = up to 14%; Balanced = 15 to 20%; Seller's = 21% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

1

NAPLES

SINGLE - FAMILY HOMES

13 - MONTH LUXURY MARKET TREND 4 Median Sales Price

Inventory

Solds $2,775,000

$1,770,000

$1,850,000

$2,000,000

$2,225,000 $1,888,100

$1,770,000

$1,850,000

$1,750,000

$1,795,000

$1,743,750

$1,757,500

$1,480,000

539

531

516

42 Jan-18

519

473

65

76

92

95

Feb-18

Mar-18

Apr-18

May-18

77

51

Jun-18

528

493

472

449

Jul-18

33

46

Aug-18

Sep-18

41 Oct-18

876

722

675

603

44

34

Nov-18

Dec-18

44

Jan-19

MEDIAN DATA INVENTORY December

January

722

SOLDS December

January

876 VARIANCE: 21 %

44 VARIANCE: 29 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

December

January

490

684 VARIANCE: 40 %

$

$

34

December

January

94.84% 93.80% VARIANCE: -1 %

SALES PRICE December

1.76m

$

January

2.78m VARIANCE: 58 % $

DAYS ON MARKET December

January

86

93 VARIANCE: 8 %

NAPLES MARKET SUMMARY | JANUARY 2019 • The Naples single-family luxury market is a Buyer's Market with a 5% Sales Ratio.

• Homes sold for a median of 93.80% of list price in January 2019.

• The most active price band is $2,900,000-$3,199,999, where the sales ratio is 23%.

• The median luxury sales price for single-family homes has increased to $2,775,000.

• The median days on market for January 2019 was 93 days, up from 86 in December 2018.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Historical data before August 2017 does not account for listings taken off the market.

3

NAPLES

ATTACHED HOMES

LUXURY INVENTORY VS. SALES | JANUARY 2019 Inventory

Sales

Luxury Benchmark Price 1: $1,365,000 $5,000,000+ $4,500,000 - $4,999,999 $4,000,000 - $4,499,999 $3,500,000 - $3,999,999

17

0 10

0

7

0

Buyer's Market Total Sales Ratio2: 7%

19

3

$2,500,000 - $2,999,999

34

6

$2,000,000 - $2,499,999

56

2

$1,900,000 - $1,999,999

18

3 15

0

$1,700,000 - $1,799,999

16

2

$1,600,000 - $1,699,999

17

1

$1,500,000 - $1,599,999

32

2

$1,450,000 - $1,499,999

20

1

$1,400,000 - $1,449,999 $1,365,000 - $1,399,999

Total Sales: 22 12

0

$3,000,000 - $3,499,999

$1,800,000 - $1,899,999

Total Inventory: 297

2

7

17

0

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 999

NA

NA

NA

0

0

NA

1,000 - 1,999

$1,485,000

2

2

3

35

9%

2,000 - 2,999

$1,972,500

3

3

12

124

10%

3,000 - 3,999

$2,700,000

3

4

5

90

6%

4,000 - 4,999

$2,750,000

4

5

2

32

6%

5,000+

NA

NA

NA

0

16

0%

The luxury threshold price is set in July of each year by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's = up to 14%; Balanced = 15 to 20%; Seller's = 21% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

1

NAPLES

ATTACHED HOMES

13 - MONTH LUXURY MARKET TREND 4 Sale Price

$2,099,000 $1,819,250

201

190

$1,942,500

200

$1,997,500 $1,700,000

195

175

100

Jan-18

Inventory

$1,825,000

30

25

44

Feb-18

Mar-18

Apr-18

May-18

$2,275,000

$2,032,500

$1,950,000

$1,750,000

169

41

Solds

25

14

Jun-18

Jul-18

11

13

Aug-18

Sep-18

19 Oct-18

$1,795,900

$1,997,500

297

255

232

215

193

177

165

$1,800,000

21

15

Nov-18

Dec-18

22 Jan-19

MEDIAN DATA INVENTORY December

January

255

SOLDS December

January

297 VARIANCE: 16 %

22 VARIANCE: 47 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

December

January

697

$

808 VARIANCE: 16 % $

15

December

January

97.23% 94.86% VARIANCE: -2 %

SALES PRICE December

1.80m

$

January

2.00m VARIANCE: 11 % $

DAYS ON MARKET December

January

28

64 VARIANCE: 129 %

NAPLES MARKET SUMMARY | JANUARY 2019 • The Naples attached luxury market is a Buyer's Market with a 7% Sales Ratio.

• Homes sold for a median of 94.86% of list price in January 2019.

• The most active price band is $1,400,000-$1,449,999, where the sales ratio is 29%.

• The median luxury sales price for attached homes has increased to $1,997,500.

• The median days on market for January 2019 was 64 days, up from 28 in December 2018.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Historical data before August 2017 does not account for listings taken off the market.

3