Monthly Market Report - October 2017

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.”