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Bring Your Highest Expectationsâ„¢ MONTHLY MARKET REPORT FOR SEPTEMBER 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 for Naples, Bonita Springs and Estero increased 4.4% year-over-year.  Closed sales priced above $2 million increased 23.7% through September compared to the same period in 2016 (370 vs 299). During the past 12 months, closings in this segment are up 15% over the prior 12 months (450 vs. 391).

New Listings/Inventory  Available inventory on October 1, 2017 consisted of 5,807 units, a decrease of 4.5% from October 1, 2016. This represents 5.8 months of supply based on current absorption rates.  During the 12 months ending September 30, 2017, a total of 19,509 listings were added to the market, a decline of 3% from the prior 12 months.

Average and Median Sales Price  Year-to-date average sales price for the area increased 4.2% to $544,229, up from $522,121 for the same period in 2016. Median closed price is approximately the same at $325,000, compared to $320,000 last year.  Average price of sales above $2 million remained static over the past 12 months at $3,839,000, up 3% from the 12 months ending September 30, 2016.

MARCO ISLAND Closed Sales  During the 12 months ending September 30, 2017, the Marco Island area recorded 858 residential closings, an increase of 3% over the prior 12 months (858 vs. 833).  Year-to-date 681 closings occured compared to 662 for the same period in 2016.

New Listings/Inventory  Available inventory on October 1, 2017 consisted of 607 single family homes and condominiums, down from 622 units at the same time last year. This represents 8.5 months of supply based on the current sales pace.  During the 12 months ending September 30, 2017, a total of 1,240 new listings were added to the Marco Island market, down 17.6% from the prior 12 months.

Average and Median Sales Price  Year-to-date average price of closed sales stands at $671,300 vs. $703,300 for the same period in 2016.  Average sales price for the 12 months ending September 30, 2017 is $697,370, down slightly from $702,215 at the end of the prior 12 months. Median price increased 5.2% from $545,477 to $573,877.

HURRICANE IRMA IMPACT ON THE NUMBERS The impact from Hurricane Irma on the Southwest Florida real estate market will not be fully known for several months. As expected, the event substantially affected the month of September. Residents evacuated in large numbers, many businesses were without power and had to remain closed for prolonged periods, and real estate closings scheduled to occur during the month had to be delayed. The result was that closings in the Naples, Bonita Springs and Estero combined market were down 35% for the month when compared with September 2016, and Marco Island closings were down over 50%. In the coming months, John R. Wood Properties will carefully monitor data on all listing and sales activity by area and price range to help us fully understand the impact of the storm based on specific segments of the market. At the time of this report, all signs point to a busy season, although it appears to be starting a little later than normal. Buyers are arriving daily and making purchases, and many winter residents are completing clean-up to their property and preparing them for the market. Restaurants and other businesses are mostly back in full swing, and traffic is heavier than a month or two ago.

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 2010 2011 2012 2013 2014 2015 2016 2017

24,000 21,000 18,000 15,000 12,000

CLOSED UNITS

9,000 6,000 3,000 0

1,800

2010

2011

2012

2013

2014

2015

2016

2017

2010 2011 2012 2013 2014 2015 2016 2017

---------------- 10,972 ---------------- 11,282 ---------------- 11,490 ---------------- 12,966 ---------------- 13,121 ---------------- 13,500 ---------------- 11,777 ---------------- 12,046

NEW LISTINGS

MARCO ISLAND

1,600

2010 2011 2012 2013 2014 2015 2016 2017

1,400 1,200 1,000 800

---------------------------------------------------------------------------------------------------------------------------------

1,649 1,543 1,342 1,403 1,401 1,348 1,505 1,240

CLOSED UNITS

600 400 200 0

---------------- 24,041 ---------------- 21,304 ---------------- 19,621 ---------------- 19,411 ---------------- 18,498 ---------------- 18,557 ---------------- 20,083 ---------------- 19,509

2010

2011

2012

2013

2014

2015

2016

2017

2010 2011 2012 2013 2014 2015 2016 2017

------------------ 669 ------------------ 766 ------------------ 859 ------------------ 994 ------------------ 1,004 ------------------ 980 ------------------ 833 ------------------ 879

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 $534k

$490,000

$507k

$520k

$460,000 $430,000

$454k

$400,000

$411k

$370,000 $340,000 $310,000

$341k

$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

$702k

$697k

2016

2017

MARCO ISLAND

$673k $605k $563k

$543k

$536k

2010

2011

$524k

2012

2013

2014

2015

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 October 1, 2017

AVAILABLE INVENTORY

CLOSED PAST 12 MONTHS

MONTHS OF SUPPLY

Aqualane Shores

23

23

12.00

$4,390,130

Audubon Country Club

24

17

16.94

$940,941

Barefoot Beach

14

13

12.92

$3,838,654

Bonita Bay

26

75

4.16

$1,212,105

Brooks

51

81

7.56

$759,637

Collier’s Reserve

13

13

12.00

$1,246,819

8

4.50

12

10.00

39

15.08

Crossings

3

Grey Oaks

35

Kensington

10

Lely Resort Mediterra Monterey Olde Cypress Old Naples

53

71

103

7

23

49 21 70

27

AVERAGE CLOSED PRICE

$905,000

7.92

$2,581,486

8.27

$752,238

3.65

9.33

$901,458

$2,018,169 $645,108 $791,148

82

10.24

$3,623,721

Palmira Golf and Country Club

29

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

68

101

8.08

$1,853,488

Park Shore/Moorings/Seagate/Coquina Sands Waterfront

16

18

10.67

$3,259,667

Pelican Bay

12

46

23

53

28

33

10.18

$1,163,857

31

37

10.05

$1,475,122

20

13.20

$958,600

Pelican Bay (Bay Colony) Pelican Landing Pelican Landing (The Colony) Pelican Marsh Pelican Sound Pine Ridge Port Royal Quail Creek Quail West Royal Harbor Tiburon

8

11 3

42 22 50 17 6

27

3.13

$589,315

$1,516,060

3

32.00

$4,516,667

11

12.00

$1,483,394

12 28 51

5.21

3.00

18.00

$822,472

$584,500

$8,620,241

11.76

$2,081,345

7

10.29

$2,705,714

60

8.40

33

15

Vineyards

42

29

West Bay Club

16

25

Vanderbilt Beach

12.89

6.18 6.21 7.68

$2,269,273 $2,042,957 $625,205

$1,186,740

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 October1, 2017

AVAILABLE INVENTORY

CLOSED PAST 12 MONTHS

MONTHS OF SUPPLY

AVERAGE CLOSED PRICE

Barefoot Beach

5

16

3.75

$1,094,594

Bonita Bay

61

100

7.32

$619,304

Brooks

45

91

5.93

$275,602

Dunes

26

23

13.57

$1,121,424

Grey Oaks

13

7

22.29

$922,500

Kensington

18

12

18.00

$455,158

Lely Resort

111

146

9.12

$324,864

Mediterra

20

18

13.33

$568,250

Olde Cypress

5

6

10.00

$440,867

Old Naples

73

134

6.54

$777,218

Palmira Golf and Country Club

12

14

10.29

$326,343

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

51

79

7.75

$325,210

Park Shore/Moorings/Seagate/Coquina Sands - Waterfront

118

280

5.06

$1,296,955

Pelican Bay

81

247

3.94

$870,301

Pelican Bay (Bay Colony)

17

23

8.87

$3,198,909

Pelican Landing

48

60

9.60

$337,183

Pelican Landing (The Colony)

36

66

6.55

$928,888

Pelican Marsh

41

59

8.34

$443,881

Pelican Sound

26

60

5.20

$303,602

Pine Ridge

17

24

8.50

$232,242

Tiburon

20

34

7.06

$725,924

Vanderbilt Beach

54

87

7.45

$741,687

Vineyards

94

107

10.54

$347,151

West Bay Club

12

37

3.89

$487,635

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 October 1, 2017

AVAILABLE INVENTORY

CLOSED PAST 12 MONTHS

MONTHS OF SUPPLY

AVERAGE CLOSED PRICE

Direct Waterfront

106

115

11.06

Indirect Waterfront

94

154

7.32

$936,778

Golf Course

8

15

6.40

$499,883

$1,313,035

Beachfront

5

0

0

Inland

69

98

8.45

$504,376

0

Preserve

5

7

8.57

$1,146,429

CONDOMINIUMS Monthly Snapshot as of October 1, 2017

AVAILABLE INVENTORY

CLOSED PAST 12 MONTHS

MONTHS OF SUPPLY

AVERAGE CLOSED PRICE

Direct Waterfront

66

102

Indirect Waterfront

21

26

9.69

$462,462

Golf Course

1

1

12.00

$760,000

Beachfront

137

179

9.18

$811,666

Gulf View

21

29

8.69

$767,362

Inland

66

120

6.60

$250,021

Preserve

8

12

8.00

$374,392

7.76

$367,859

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.”

Market Report September 2017  
Market Report September 2017  

Southwest Florida Real Estate Market Report for September 2017