Moorings Real Estate Market Prices, Trends and Forecast 2023

The Moorings in Naples, Fl., is a tranquil haven between the vibrant neighborhoods of Coquina Sands and Park Shore. This picturesque locale is renowned for its unparalleled access to the Gulf, pristine beaches, and serene ambiance. The allure of waterfront condos and homes solidifies its reputation as one of Naples' most desirable places to call home.

Moorings is a niche market within Naples, and its real estate is less subject to nationwide trends. Still, it’s helpful to examine local real estate in the context of Southwest Florida.

Closed sales for the 12-month period ending were down 21% from the preceding 12 months (falling from 30,650 to 24,162). Narrowing the focus to September, the 1,681 sales posted for September 2023 were up 8.6% compared to September 2022.

We can largely attribute the apparent dip in year-to-date sales to the pandemic-influenced buyer surge, which extended into early 2022. In that context, the 21% drop represents a return to normal. Indeed, the figure reduces to 5% when compared with closed sales in 2017, 2018, and 2019.

Inventory has surged this fall. In September 2023, inventory has increased by 53% from the same time last year, climbing to 8,206 listed properties. Entering October 2023, the market had over four months of supply — nearly double the 2.1 months of inventory entering October 2022.

The relationship between supply (inventory) and demand is a key indicator of a real estate market’s health. As a potential homebuyer, you love to see inventory rebound in Southwest Florida. However, the four-plus months of inventory remains lower than the classic bellwether of six months.

The average selling price for the 12-month period through September was $799,508, up 6% from the preceding 12-month period when the average selling price was $795,620. With fewer closed sales and increased inventory, luxury properties in places like Moorings are likely boosting sales prices.

With increased inventory, stable selling prices, and relatively few local sales, the Southwest Florida real estate market bodes well for buyers. What happens when we zoom in on the inventory of properties in Moorings?

A cursory look at Moorings real estate on the Multiple Listing Service (MLS) shows the neighborhood supports a robust luxury market. As of October 2023, 105 properties were publicly listed in Moorings.

The top 10% of these properties are listed at $8.4 million and above. In other words, the local market for luxury real estate reaches into the ultra-luxe tier. Without exception, these are properties with over 4,000 square feet and more bedrooms and bathrooms than usual.

Meanwhile, MLS data puts the median list price for Moorings real estate at $2.795 million. Exactly one-fifth of these properties were built in 2020 or after (a more sizeable chunk was built in the 1970s). Roughly a quarter of properties listed in Moorings are priced below $1 million, so buyers don’t necessarily have to break the bank to live there. Area buyers face a tradeoff between newer properties (read: more expensive) and older properties — the latest property listed below $1 million was built before 1990.

One of the pivotal indicators to watch is the anticipated behavior of mortgage rates. The Mortgage Bankers Association offers a glimpse into what 2024 might look like, predicting a rate decline to settle below the 6% mark. However, it's also worth noting that these rates are not expected to dip under the 5% threshold. The Federal Reserve's stance plays a crucial role in this ecosystem. They are committed to not slashing interest rates until inflation stabilizes at or dips below the 2% mark.

Beyond these immediate financial factors, a broader view of the housing market's health shines a light on the steady appreciation of home values. Historical data paints an optimistic picture, revealing that since 1965, national home values have consistently grown, doubling approximately every decade. Even during the tumultuous period around 2008, which witnessed significant market upheavals, home values made a commendable recovery within a few short years.

Further emphasizing the resilience and potential of the housing market, between 2014 and 2019 — if we set aside the exceptional circumstances brought about by global events like the pandemic and regional disruptions like hurricanes — home values witnessed a robust increase of 12%.

All these factors combined present a nuanced landscape for both buyers and sellers. Current price points and market dynamics offer unique opportunities, and the long-term view signals consistent growth and potential returns on investment.

The prestigious neighborhood of Moorings offers various real estate options to suit different preferences and lifestyles. The real estate market in Moorings caters to a diverse range of choices, whether you're seeking waterfront living, golf course views, beachfront access, or a low-maintenance condo lifestyle.

Moorings is known for its luxurious estates, featuring high-end amenities, architectural excellence, and expansive living spaces. These estates often offer the utmost luxury and comfort. You can also find charming beachfront villas.

Condominiums are popular in Moorings, offering a maintenance-free lifestyle with various amenities. These can range from mid-rise to high-rise buildings, often with views of the Gulf of Mexico or Moorings Bay. Condos in Moorings exhibit the highest price range, with options starting around $500,000 and exceeding $10 million in list price.

Moorings boasts stunning beachfront properties, including condominiums and single-family homes, where residents can step right onto the beautiful sandy beaches along the Gulf of Mexico. Many properties in Moorings are situated along the picturesque Moorings Bay or canals, providing waterfront views and boating access. Waterfront homes often come with private boat docks.

For those aiming for the best in Moorings real estate, look no further than Ryan Nordyke. With an impressive 17 years in the business, Ryan has carved a niche for himself, specializing in the luxury home segment. If you're seeking insights into condos and cooperatives, particularly those dotting the scenic beach and Bay, Ryan's wealth of knowledge positions him as a go-to expert. With The Nordyke Team at your side, navigating the complexities of Moorings real estate becomes an enriching journey.