Bring Your Highest Expectationsâ„¢ MONTHLY MARKET REPORT FOR OCTOBER 2017 Naples / Bonita Springs / Estero / Marco Island Market Area
Bring Your Highest Expectations™
NAPLES, BONITA SPRINGS AND ESTERO Closed Sales The number of closed sales year-to-date is up 4% over the same period in 2016. Closed sales priced above $2 million are up 23.6% through October compared to the same period in 2016 (393 vs 318). During the past 12 months, closings in this segment increased 17.9% over the prior period (454 vs. 385).
New Listings/Inventory Available inventory on November 1, 2017 consisted of 6,088 single family homes and condominiums, down from 6,707 units on November 1, 2016. This represents 6 months-of-supply based on the sales pace over the past 12 months. During the 12 months ending October 31, 2017, a total of 19,275 new listings were added to the market, a decline of 4.4% over the prior 12 months.
Average and Median Sales Price Year-to-date average sales price for the area increased 4.2% to $538,664, up from $516,756 for the same period in 2016. Median closed price is also up 4.2%, from $300,000 in 2016 to $312,500 in 2017. Average price of sales above $2 million remained static over the past 12 months at $3,790,746.
MARCO ISLAND Closed Sales During the 12 months ending October 31, 2017, the Marco Island area recorded 866 closings, an increase of 4.7% over the prior 12 months. Year-to-date 736 closings occurred compared to 730 last year. The number of closings during the month of October declined 20% when compared to the average number of closings for the month over the past several years. Repair completion timelines are the apparent cause for the decrease, rather than a lack of buyer interest.
New Listings/Inventory Available inventory on November 1, 2017 consisted of 605 units compared to 629 at the same time last year. This represents 8.4 months-of-supply based on current absorption rates. During the 12 months ending October 31, 2017, a total of 1,222 new listings were added to the Marco Island market, down 19% from the prior 12 months.
Average and Median Sales Price Year-to-date average price of closed sales stands at $686,219 vs. $697,768 for the same period in 2016. Average sales price for the 12 months ending October 31, 2017 is $706,272, showing little change from last year’s average for the same period of $698,015. Median price for this period increased 6.3% from $546,796 to $580,760.
The Marco Island statistics are obtained from the Marco Island MLS system and include only those sales and current listings on Marco Island and Key Marco.
John R. Wood Properties, Bring Your Highest Expectations. “The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS, Marco Island MLS, Copyright 2017, and the proprietary compilation of that data by John R. Wood Properties, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data.”
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Bring Your Highest Expectations™
NEW LISTINGS / CLOSED UNITS 12-Month Comparisons 27,000
NEW LISTINGS
NAPLES, BONITA SPRINGS AND ESTERO
24,000
2010 2011 2012 2013 2014 2015 2016 2017
21,000 18,000 15,000 12,000
6,000 3,000
1,800
2010
2011
2012
2013
2014
2015
2016
2017
2010 2011 2012 2013 2014 2015 2016 2017
---------------- 10,793 ---------------- 11,370 ---------------- 11,638 ---------------- 13,017 ---------------- 13,229 ---------------- 13,367 ---------------- 11,694 ---------------- 12,044
NEW LISTINGS
MARCO ISLAND
1,600
2010 2011 2012 2013 2014 2015 2016 2017
1,400 1,200 1,000 800
---------------------------------------------------------------------------------------------------------------------------------
1,690 1,429 1,350 1,396 1,399 1,366 1,514 1,222
CLOSED UNITS
600 400 200 0
24,069 21,016 19,730 19,215 18,519 18,509 20,168 19,275
CLOSED UNITS
9,000
0
-------------------------------------------------------------------------------------------------------------------------
2010
2011
2012
2013
2014
2015
2016
2017
2010 2011 2012 2013 2014 2015 2016 2017
------------------ 662 ------------------ 777 ------------------ 869 ------------------ 1,001 ------------------ 997 ------------------ 992 ------------------ 827 ------------------ 866
John R. Wood Properties, Bring Your Highest Expectations. “The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS, Marco Island MLS, Copyright 2017, and the proprietary compilation of that data by John R. Wood Properties, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data.”
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Bring Your Highest Expectations™
AVERAGE SALES PRICE 12-Month Comparisons $550,000 $520,000
NAPLES, BONITA SPRINGS AND ESTERO $536k
$490,000
$511k
$517k
$460,000 $459k
$430,000 $400,000
$417k
$370,000 $340,000 $310,000
$342k
$345k
2010
2011
$358k
$280,000 $250,000
$850,000 $800,000 $750,000 $700,000 $650,000 $600,000 $550,000 $500,000 $450,000 $400,000 $350,000 $300,000 $250,000
2012
2013
2014
2015
2016
2017
$687k
$698k
$706k
2015
2016
2017
MARCO ISLAND
$609k $543k
2010
$567k $529k
$521k
2011
2012
2013
2014
John R. Wood Properties, Bring Your Highest Expectations. “The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS, Marco Island MLS, Copyright 2017, and the proprietary compilation of that data by John R. Wood Properties, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data.”
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Bring Your Highest Expectations™
Neighborhood Snapshot Report© Naples, Bonita Springs and Estero Market Area 12-Month Sold Comparison Report for Select Communities
SINGLE FAMILY HOMES Monthly Snapshot as of November 1, 2017
AVAILABLE INVENTORY
CLOSED PAST 12 MONTHS
MONTHS OF SUPPLY
AVERAGE CLOSED PRICE
Aqualane Shores
23
22
12.55
$3,865,818
Audubon Country Club
26
16
19.50
$961,000
Barefoot Beach
15
13
13.85
$3,838,654
Bonita Bay
24
76
3.79
$1,172,965
Brooks
59
83
8.53
$754,859
Collier’s Reserve
17
13
15.69
$1,246,819
Crossings
2
8
3.00
$883,750
Grey Oaks
32
56
6.86
$2,627,581
Kensington
10
12
10.00
$901,458
Lely Resort
70
108
7.78
$743,667
Mediterra
42
39
12.92
$2,066,887
Monterey
8
21
4.57
$641,976
Olde Cypress
23
29
9.52
$797,817
Old Naples
66
85
9.32
$3,574,413
Palmira Golf and Country Club
29
25
13.92
$586,660
Park Shore/Moorings/Seagate/Coquina Sands Non-Waterfront
68
107
7.63
$1,820,169
Park Shore/Moorings/Seagate/Coquina Sands Waterfront
19
18
12.67
$3,361,056
Pelican Bay
10
49
2.45
$1,585,128
Pelican Bay (Bay Colony)
6
3
24.00
$3,383,333
Pelican Landing
26
48
6.50
$805,884
Pelican Landing (The Colony)
10
11
10.91
$1,483,394
Pelican Marsh
35
35
12.00
$1,163,637
Pelican Sound
3
11
3.27
$579,909
Pine Ridge
31
36
10.33
$1,468,875
Port Royal
41
28
17.57
$8,620,241
Quail Creek
22
22
12.00
$932,341
Quail West
50
53
11.32
$2,061,531
Royal Harbor
18
31
6.97
$2,249,226
Tiburon
5
7
8.57
$2,705,714
Vanderbilt Beach
17
27
7.56
$2,122,435
Vineyards
44
58
9.10
$630,520
West Bay Club
15
30
6.00
$1,163,250
John R. Wood Properties, Bring Your Highest Expectations. “The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS, Marco Island MLS, Copyright 2017, and the proprietary compilation of that data by John R. Wood Properties, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data.”
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Bring Your Highest Expectations™
Neighborhood Snapshot Report© Naples, Bonita Springs and Estero Market Area 12-Month Sold Comparison Report for Select Communities
CONDOMINIUMS Monthly Snapshot as of November 1, 2017
AVAILABLE INVENTORY
CLOSED PAST 12 MONTHS
MONTHS OF SUPPLY
AVERAGE CLOSED PRICE
Barefoot Beach
7
18
4.67
$1,113,158
Bonita Bay
67
101
7.96
$615,974
Brooks
47
96
5.88
$277,319
Dunes
29
24
14.50
$1,123,656
Grey Oaks
12
7
20.57
$898,214
Kensington
17
13
15.69
$447,069
Lely Resort
110
147
8.98
$324,257
Mediterra
21
17
14.82
$569,324
Olde Cypress
6
5
14.40
$450,840
Old Naples
81
130
7.48
$773,082
Palmira Golf and Country Club
18
13
16.62
$318,754
Park Shore/Moorings/Seagate/Coquina Sands - Non-Waterfront
53
79
8.05
$312,963
Park Shore/Moorings/Seagate/Coquina Sands - Waterfront
134
278
5.78
$1,298,725
Pelican Bay
99
251
4.73
$880,587
Pelican Bay (Bay Colony)
22
27
9.78
$2,997,959
Pelican Landing
50
59
10.17
$337,729
Pelican Landing (The Colony)
50
64
9.38
$939,017
Pelican Marsh
44
61
8.66
$449,578
Pelican Sound
33
65
6.09
$306,809
Pine Ridge
18
23
9.39
$236,904
Tiburon
23
32
8.63
$722,856
Vanderbilt Beach
57
92
7.43
$728,046
Vineyards
95
107
10.65
$350,113
West Bay Club
14
33
5.09
$492,682
John R. Wood Properties, Bring Your Highest Expectations. “The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS, Marco Island MLS, Copyright 2017, and the proprietary compilation of that data by John R. Wood Properties, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data.”
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Bring Your Highest Expectations™
Island Snapshot Report Marco Island 12-Month Sold Comparison Report
SINGLE FAMILY HOMES Monthly Snapshot as of November 1, 2017
AVAILABLE INVENTORY
CLOSED PAST 12 MONTHS
MONTHS OF SUPPLY
AVERAGE CLOSED PRICE
Direct Waterfront
102
114
10.74
Indirect Waterfront
95
152
7.50
$920,483
Golf Course
9
16
6.75
$488,953
$1,250,825
Beachfront
4
1
48.00
$7,000,000
Inland
65
101
7.72
$500,711
Preserve
5
6
10.00
$1,120,000
CONDOMINIUMS Monthly Snapshot as of November 1, 2017
AVAILABLE INVENTORY
CLOSED PAST 12 MONTHS
MONTHS OF SUPPLY
AVERAGE CLOSED PRICE
Direct Waterfront
64
104
Indirect Waterfront
22
27
9.78
$459,148
Golf Course
1
1
12.00
$760,000
Beachfront
138
187
8.86
$808,686
Gulf View
24
31
9.29
$752,371
Inland
70
114
7.37
$253,408
Preserve
6
13
5.54
$364,731
7.38
$373,684
Definitions Direct Waterfront
Properties with direct waterfront access indicates there are no bridges or the Marco Island High Span Bridge to navigate to open water.
Indirect Waterfront
Properties with indirect waterfront access indicates there is at least 1 bridge, not including the Marco Island High Span Bridge, to navigate to access open water.
Golf Course
Properties with frontage on the golf course.
Beachfront
Properties with direct views of the Gulf of Mexico and direct beachfront access.
Gulf View
Properties with direct views of the Gulf of Mexico with NO direct beachfront access.
Inland
Properties with inland similar housing views.
Preserve
Properties with views of a preserve or mangroves.
John R. Wood Properties, Bring Your Highest Expectations.
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“The source of this real property information is the copyrighted and proprietary database compilation of Marco Island MLS, Copyright 2017, and the proprietary compilation of that data by John R. Wood Properties, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data.”