Naples Market Update | Provided by Naples Area Board of Realtors
Naples Market Report
Naples Market Update | Provided by Naples Area Board of Realtors
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Steady demand as witnessed in pending sales during April (1,004), also helped to temper supply, which decreased to 11.2 months of inventory, the lowest in 2025. New listings in April decreased 3.1 percent to 1,333 new listings from 1,375 new listings in April 2024 and failed to replenish inventory that went pending or closed during the month. With 2,572 price decreases reported during April, this significant shift in the market indicates that sellers are more willing to lower prices to meet buyer demand, a positive trend where both buyers and sellers benefit from mutually agreed-upon prices.
“A significant metric for sellers to note is that the median closed price in Naples decreased 10 percent in April 2025 compared to April 2024, while the average closed price increased 25.8 percent. This contradiction is the result of two record-breaking, multi-million dollar transactions in Port Royal,” said Ryan Bleggi, 2022 NABOR® President and Managing Broker for John R. Wood Properties.
Bleggi was referencing the sale of an $85 million home and a $225 million three-parcel purchase. Because of anomalies like this – which happen often in Naples – NABOR® prefers to analyze changes to the overall median closed price, which is the point where half of the properties sold during the month for more, and half sold for less. As such, the overall median closed price is not as dramatically influenced by anomalies and is therefore a better way to gauge home price movement in our market.
Here is a breakdown of the trends:
By working with a REALTOR® who understands local trends, seasonal fluctuations, and specific neighborhood dynamics that influence pricing in the Naples housing market, buyers and sellers can obtain an accurate and informed assessment of a home’s value and appropriate asking price.
As sellers begin to heed recommendations from their REALTORS® and price their homes appropriately to adapt to current market conditions, overall sales are improving. Pending sales in April were slightly lower than March, but higher than the previous 10 months. Compared to last year, pending sales decreased 10 percent to 1,004 pending sales from 1,115 pending sales in April 2024. Interestingly, April’s 84 days on market is impressive given it was 98 days in April 2019, with fewer options.
“There are many listings that have been on the market cumulatively for over 200 days,” said Jeff Jones, Broker at Keller Williams Naples. “These sellers are trying to get as much equity as possible as they hold onto the idea that values are still what they were in 2022. But the market has changed. We have over 7,000 properties for sale today, not 2,000 like we had in 2022. If a home has been on the market longer than our average days on market, which was 84 days in April, then it’s unlikely to sell unless the price is reduced enough to attract a buyer in today’s market environment.”
Bleggi responded to Jones by stating, “It’s important for sellers to be mindful of the fact that Naples experienced unprecedented demand during COVID, which resulted in property values nearly doubling by the peak of the cycle, which was reached in the second quarter of 2022.”
According to the Federal Housing Finance Agency, long-term appreciation of homes in the United States is historically 4.25 percent annually. Further data from the National Association of REALTORS® shows appreciation increased 18 percent in 2021, and 11 percent in 2022. But for the first quarter of 2025, homes in the South had year-over-year price appreciation of only 1.3 percent.
The trend to pull homes off the market during the summer should be avoided as summer buying activity has improved in recent years. “Summer buyers are a different breed,” said Molly Lane, Senior Vice President at William Raveis Real Estate. “They tend to be a more motivated group of buyers.” The cost of keeping your home on the market during the summer may be more cost-effective and attract motivated buyers, rather than waiting for a potentially better offer later.
Brokers reviewing the April Market Report including Wes Kunkle, President and Managing Broker at Kunkle International Realty, are concerned appraisals by out-of-area professionals may hurt property values in Naples. “Buyers go under contract, and then the bank hires an appraisal company from another county and the appraisal comes in lower than the negotiated sales price. This is happening because the appraiser’s analysis is based on market conditions in another area where values are falling, like Cape Coral.”
According to veteran Naples property appraiser Cindy Carroll of Carroll & Carroll Appraisers & Consultants, LLC, “Overall values in Naples are declining at a .5 percent monthly rate currently. But that’s not the case with every home. It really depends on the condition and location.”
