According to the May 2025 Market Report by the Naples, Florida, Area Board of REALTORS® (NABOR®), 2,023 properties on the market in May reported a list price decrease, representing 31% of the overall inventory. The number of homes for sale increased 23.9% to 6,524 properties from 5,265 properties in May 2024, even though new listings in May decreased 22.9% to 952 new listings from 1,235 new listings in May 2024, as buyer hesitancy kept sales tepid. Closed sales in May decreased 16.5% to 779 closed sales from 933 closed sales in May 2024. Yet, pending sales (homes under contract) increased 10.9% to 951 pending sales from 919 pending sales in May 2024.
However, the Naples market is still doing better than other areas in Florida according to Dr. Shelton Weeks, Professor of Real Estate at Florida Gulf Coast University. “Collier County has the lowest stock available in the region, just 3.5% of total homes. Compared to the rest of the state, values are holding in Naples much better. Historically, if the country does good, Naples does better”, furthermore “the value of the dollar has been declining relative to the Euro since the first of the year and is now at about the same level it was back in November 2021. If the current relative value holds, this should help to bring European investors back to our market.”
The overall median closed price in May decreased 9.1% from May 2024. Yet, the luxury market is still strong, as the single family home median closed sale price in the ‘Naples Beach’ area (defined as zip codes 34102, 34103, 34108) increased 18.6% to $2,712,500 from $2,287,500 in May 2024. Although there is a concern that an oversupply of spec homes in that geographic area, which resulted in a 17.9 months supply of inventory, may eventually affect prices.