According to the February 2025 Market Report by the Naples Area Board of REALTORS®(NABOR®), inventory of homes held for sale increased 35.8% to 7,320 properties from 5,389 properties in February 2024. Overall closed sales decreased 9.5% to 584 closed sales in February 2025 from 645 closed sales in February 2024. And although the overall median closed sale price in February increased 4% in February 2024, there were 2,883 price decreases during the month.
While the overall median closed sale price for properties in Naples still increased modestly, there were great geographical disparities: The median closed sale price for single-family homes in Central Naples [zip codes 34104, 34105, 34116] decreased 28.7%, yet the median for single-family homes in the Naples Beach area (34102, 34103, 34108) increased 82.2%. (Though this increase was more likely due to the sale of a few very high priced properties that created statistical disparity than actual organic price expansion.)
The report suggests that the market is self-correcting: Prices are not appreciating at an unsustainable rate anymore, and sales in 2025 have slowed somewhat for a number of reasons, like recent economic uncertainty and a general lack of buyer urgency. According to Cindy Carroll of Carroll & Carroll Appraisers: “We are starting to see values declining for homes that were purchased in 2022, especially in markets that are saturated with homes for sale. Selling a home can become especially challenging when the spec home market has produced an oversupply of homes for sale in many popular neighborhoods around Old Naples, Vanderbilt and Lake Park.”