August 2023 Naples Market Report: Comparing Naples’ Top Golf Country Club Communities

Grey Oaks had the highest 3-month average sales price per square foot at $1,014/SF followed by Mediterra Naples at $919/SF, Quail West at $893/SF and Bonita Bay at $636/SF. This chart is very informative in that it shows the quick escalation of property values in SWFL in early-to-mid-2022 and then the stabilization of the market from mid-2022 to mid-2023.

Recently there have been approximately 10 to 15 homes for sale within each of the four top golf communities, significantly less than the 30 to 70 homes that were for sale in each community prior to the pandemic.

There have been approximately 5 to 15 new listings entering the market each month and I would expect that to start trending up as we get into the fall market, typically starting in October. The seasonal swing of listing activity is evident in the charts below, with new listing activity typically peaking in January or February and hitting a low point over the summer.

There were approximately 4 to 10 pending sales recently within the four communities with Grey Oaks Naples leading the way with 10 pending sales and Mediterra having the least at 4 pending sales. The pandemic rush of sales activity is very clear here with all four communities recording a peak of about 35-45 sales per month in early 2021.

There were 7 to 15 sales closings recently within each of the four communities. Bonita Bay lead the way with 15 sales and Mediterra had the least amount of closings with 7 sales.

Single family homes within these top four golf communities of Grey Oaks, Quail West, Mediterra and Bonita Bay spent from 21 to 90 days on the market on average. It’s interesting to note that prior to the pandemic, it was not uncommon for homes to spend an average of 150 to 300 days on the market. SWFL is a 2nd/3rd home destination so typically it takes time for the buyers to visit, explore all their options, revisit and eventually decide which home/community is the right fit for them.

The average amount of negotiation for properties closed recently was 2.4% to 8.1% below the last asking price (which is not necessarily their 1st asking price). Of these four top golf communities in SWFL, sellers in Mediterra negotiated the most (typically there has not been this much negotiation within Mediterra) and sellers in Bonita Bay negotiated the least amount from the asking price.