Big news if you have yet to hear… The Hoffmann family has completed the sale of a portfolio of downtown Naples properties for over $186 million to M Development, based in Aspen, Colorado. The deal, encompassing more than two dozen transactions, involves prime real estate on Fifth Avenue South and Third Street South, renowned shopping and dining destinations. M Development, known for transformative projects in affluent communities, has already invested in Naples and plans a mixed-use redevelopment project near Fifth Avenue (Whole Foods, Restoration Hardware, restaurants, condos & more!).
Market analysis by Matt Brown | Luxury Real Estate Advisor | William Raveis Real Estate
RealTrends Verified: #922 Nationally & #13 in Naples (2024) · Top 1.5% of Agents Nationwide (2025)
$700M+ Career Sales · $50M+ in 2024 · CLHMS · GRI · 23+ years experience · (239) 580-8864
While the deal is historic, it doesn’t surpass the 2021 Naples Beach Club hotel sale for over $363 million. The Hoffmanns retain leases for businesses in the sold buildings and remain committed to further investments in Naples, Southwest Florida, and beyond. Read more…
It will be interesting to see the impact on Old Naples considering this significant shift of real estate ownership and influence from Hoffmann to M Development. Have an opinion? Reach out, I would love to get your take.
Happy Thanksgiving
As the temperatures continue to gracefully dip, Naples further transforms into a haven of tranquility, offering our long-awaited break from the summer’s heat. The fall foliage may not paint the palm trees in hues of red and orange, but the subtropical landscape takes on a unique charm we so desire most of the year.
Happy Thanksgiving! Today, surrounded by family, I am reflecting on the sense of community that defines Naples. From charitable events to local traditions downtown, the fall/winter season is when neighbors come together to celebrate gratitude and the warmth of shared experiences.
Join us in embracing the spirit of the season in Naples, where the beauty of the surroundings is matched only by the welcoming embrace of the community.
Have a great Thanksgiving everyone!
~Matt, Lindsey, Parker (9) and Sydney (12)
Best Regards,
Matt
Matt
Naples MLS Data October 2023
October 2023: Naples Market Trends and Commentary
In this month’s newsletter market trend review, I have included only new construction properties located within 3 of Naples’ luxury regions located along the beach corridor, west of US 41. The charts show 3 trend lines spanning almost 6 years for 3 geographical regions separated within the MLS as shown below. Also, I compared the current statistics to those from OCT 2019, a benchmark of a pre-pandemic level of activity in Naples:
- NA07: Port Royal and Aqualane Shores area
- NA06: Old Naples
- NA05: Crayton Road area consisting of Coquina Sands, the Moorings, and Park Shore
AVERAGE SALES PRICE
6-month rolling average
Based on a 6-month rolling average, the sales price for a new construction property in the Port Royal/Aqualane Shores area was $17.9M, in Old Naples it was $8.8M and in the Crayton Road area it was $5.9M. In OCT 2019 the average sales price was $7.5M in Port Royal/Aqualane Shores, and $3.7M in both Old Naples and the Crayton Road area.
AVERAGE PRICE PER SQFT
6-month rolling average
Based on a 6-month average, the sales price per square foot for a new construction home in the Port Royal/Aqualane Shores area was $2,681/SF, in Old Naples it was $2,006/SF and in the Crayton Road area it was $1,432/SF. In OCT of 2019. these values were $858/SF for Port Royal/Aqualane Shores, and $828/SF for Old Naples and $571/SF in the Crayton Road area.
MONTHS SUPPLY
12-month rolling average
This is one of the most important statistics regarding the current state of the real estate market since it combines the pace of sales with the number of properties currently available. The months of supply indicator measures how long it would take for all the properties on the market to be absorbed/sold if sales continued at the current pace and no additional listings came on the market. Generally 6 months of supply is considered to be a balanced market but within Naples ultra-luxury market, many consider around 12 months of supply to be a balanced market, below 12 months is a seller’s market and above 12 months is a buyer’s market.
The supply of new construction homes in Port Royal/Aqualane Shores continued to climb to 20 months, Old Naples ticked up to 6.7 months and the Crayton Road area ticked down to 13.8 months. In OCT of 2019, supply was only 3.9 months in Port Royal/Aqualane, 19.6 months in Old Naples and 6.1 months in the Crayton Road area. New construction supply is a bit different than “regular” inventory since listings are often put on the market well in advance of the property being completed.
HOMES FOR SALE
There are currently 58 new construction properties on the market in the 3 areas combined; 20 in Port Royal/Aqualane Shores, 15 in Old Naples and 23 in the Crayton Road area. In OCT 2019 there were 76 new construction homes available; 7 in Port Royal/Aqualane Shores, 49 in Old Naples and 20 in the Crayton Road area.
NEW LISTINGS
12-month rolling average
Within the past 12-months, there were 76 new construction listings added to the market; 21 in Port Royal/Aqualane Shores, 27 in Old Naples and 28 in the Crayton Road area. In the 12 months prior to OCT 2019, there were 104 new construction listings added to the market; 9 homes in Port Royal/Aqualane, 48 in Old Naples and 47 in the Crayton Road area.
PENDING SALES
12-month rolling average
Based on a 12-month average, there were 4 new construction contracts in Port Royal/Aqualane Shores, 6 in Old Naples and 14 in the Crayton Road area. In OCT 2019, the 12-month rolling average was 10 contracts in Port Royal/Aqualane, 32 in Old Naples and 35 in the Crayton Road area.
TOTAL SALES
12-month rolling average
Based on a 12-month rolling average, there have been 4 new construction sales in Port Royal/Aqualane Shores in the last year, 9 in Old Naples and 15 in the Crayton Road Area. In OCT 2019, the 12 month rolling average number of sales was 9 in Port Royal/Aqualane, 30 in Old Naples and 33 in the Crayton Road area.
DOLLAR VOLUME OF CLOSED SALES
12-month rolling average
Based on a 12-month average, there was $74.6M of new construction home sales in Port Royal/Aqualane in the last year, $65.6M in Old Naples and $87M in the Crayton Road area. In OCT 2019 there was a 12-month average of $69.8M in Port Royal/Aqualane, $122.3M in Old Naples and $108.9M in the Crayton Road Area.
AVERAGE DAYS ON MARKET
12-month rolling average
Based on the past 12 months of sales, Port Royal new construction homes spent an average of 107 days on the market, Old Naples homes spent 155 days on the market and Crayton Road area homes spent 135 days on the market. The 12 months prior to OCT 2019, new homes spent 301 days on the market in Port Royal, 297 days on the market in Old Naples and 170 days on the market in the Crayton Road area.
AVERAGE PERCENT OF LAST SALES PRICE
The average amount of negotiation for new construction properties closed over the last 6 months is 5.1% in Port Royal/Aqualane Shores, 4.4% in Old Naples and 3.3% in the Crayton Road area. The average amount of negotiation for the 6 month period prior to OCT 2019 was 3.9% in Port Royal/Aqualane Shores, 6.9% in Old Naples and 3.7% in the Crayton Road area.
Area Real Estate News November 2023
Area Real Estate News Summary
Downtown Naples: Modern American Cuisine, Culture, Luxe Spirits
Warren Naples is the first and only restaurant at the collective targeting a November opening…
Full story →
Downtown Naples: Modern American Cuisine, Culture, Luxe Spirits
Warren Naples is the first and only restaurant at the collective targeting a November opening…
Snook Inn reopens on Marco Island post-Hurricane Ian
The Snook Inn on the north side of Marco Island reopened after a year following Hurricane Ian and is completely renovated…
Full story →
Snook Inn reopens on Marco Island post-Hurricane Ian
The Snook Inn on the north side of Marco Island reopened after a year following Hurricane Ian and is completely renovated…
Fort Myers Council supports Bonita Estero Rail Trail
Bonita Estero Rail Trail Project could transform a 14.9-mile portion of the Seminole Gulf Railway into a recreational biking trail…
Full story →
Fort Myers Council supports Bonita Estero Rail Trail
Bonita Estero Rail Trail Project could transform a 14.9-mile portion of the Seminole Gulf Railway into a recreational biking trail…
Naples Retail Center Renamed After $29M Sale
Our immediate plans include a rebranding campaign with a change in name to Centre Pointe…
Full story →
Naples Retail Center Renamed After $29M Sale
Our immediate plans include a rebranding campaign with a change in name to Centre Pointe…
Maddox Private Venue Launches On Bayshore Drive
The Maddox members-only social venue launched on Oct. 3, and a stylish new private space complete the entertainment campus…
Full story →
Maddox Private Venue Launches On Bayshore Drive
The Maddox members-only social venue launched on Oct. 3, and a stylish new private space complete the entertainment campus…
Plans For Naples Design District Taking Shape
Naples Design District is on the verge of transformation and is taking shape and going to be a hub of creativity…
Full story →
Plans For Naples Design District Taking Shape
Naples Design District is on the verge of transformation and is taking shape and going to be a hub of creativity…
Featured ListingsNaples · Updated Daily
Search Naples Homes For Sale
Below are Naples’ newest properties on the market priced above $2,000,000. See any that are interesting? Let’s connect! If you’d like to search all Southwest Florida properties, visit our website → SEARCH → Search Properties page.
[showcaseidx shortcode encountered an error]PREVIOUS MARKET DATADOWNLOAD
Southwest Florida & Naples Real Estate Market Reports
Each month our real estate newsletter includes previous months published market reports for the Naples Florida area, which includes the William Raveis luxury real estate market report and the Naples Board of Realtors (NABOR) market report.
Where can I download the full Naples luxury market reports?
The complete reports are available below. For the full archive, visit all Naples market reports →
William Raveis · Official Report
Naples & Bonita Springs (William Raveis) - October 2023
All price tiers, community snapshots, 12-month rolling trends. Southwest Florida MLS west of US 41.
NABOR® · Monthly Market Data
Naples Board of Realtors (NABOR) - October 2023
Full NABOR® analysis of all price segments, inventory trends and year-over-year comparisons.
Matt Brown · Monthly Newsletter
All Newsletters
Every past edition in one place: market data, commentary and the stories behind the numbers, month by month.
The data tells a story. Let's talk about what it means for you.
Matt Brown is one of the top-ranked luxury real estate agents in Naples, with $700M+ in career sales across Port Royal, Pelican Bay, Grey Oaks, Park Shore, and every major Naples luxury community. Whether you are buying, selling, or evaluating the market, a direct conversation with Matt covers more ground than weeks of online research.
Featured ListingsNaples · Updated Daily
