Naples, Fla. (April 25, 2025) – Brokers reviewing the March 2025 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), agree that the Naples area housing market has become a buyer’s market – where the supply exceeds the demand – as reflected in a 36.1 percent increase in overall inventory to 7,483 properties from 5,500 properties in March 2024. Overall closed sales decreased 9.3 percent in March to 820 closed sales from 904 closed sales in March 2024, putting pressure on sellers to drop prices before season ends. Even with 3,305 price decreases reported during March – the highest on record – overall pending sales decreased 7.3 percent to 1,212 pending sales from 1,300 pending sales in March 2024.
Inventory levels finally exceeded pre-Covid levels in March – 7,483 properties vs. 6,829 properties in March 2019. With more options for buyers to consider, days on market for March increased 26.5 percent to 86 days from 68 days in March 2024. Plus, the 5.1 percent increase in new listings during March to 1,617 new listings from 1,538 new listings in March 2024 has pushed our market to 11.4 months of inventory compared to 7.7 months of inventory in March 2024.
As Mike Hughes, Vice President and General Manager for Downing-Frye Realty, Inc. proclaimed upon reviewing the report, “For buyers, this is a rare opportunity to negotiate your way into paradise.”
It’s Paradise, Not Fantasyland
According to Cindy Carroll of Carroll & Carroll Appraisers & Consultants, LLC, “Sellers who purchased a property in Naples at the top of the market during the pandemic and did major home renovations may not get back all the money they put in.” But she admits that there are exceptions depending on where the home is located. “Some neighborhoods in Aqualane Shores, Old Naples, off Crayton, and in Lake Park are oversaturated with spec homes, which is hurting the resale market. If you’ve been waiting months to get your price thinking things will be better, that’s not a good strategy today.”
Bleggi responded, “Sellers who are goal oriented should look at the sold price of the most recent closing in their neighborhood. With the supply of homes for sale on the rise, those chasing the market with small price decreases each month will be disappointed. But those willing to sell for fair market value are going to get ahead of the market, sell faster, and net a high return.”
Priced to Sell with a Profit
While the median closed price barely changed compared to last March, a .1 percent increase to $650,000 from $649,450 in March 2024, it decreased 2.4 percent compared to February’s median closed price of $666,250. The median closed price of single-family homes reported no change in price year over year, $770,000. But the median closed price of condominiums decreased 7.1 percent to $486,000 from $523,000 in March 2024.
Brokers identified the top issues contributing to slow sales today: economic uncertainty, sellers who aren’t willing to lower the price, homeowners unwilling to let go of a low mortgage rate, and buyers on the fence because they believe prices are going to drop drastically.
The NABOR® March 2025 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. NABOR® sales statistics are presented in chart format, including these overall (single-family and condominium) findings for 2025:
Are you seeking a home in the Bonita Springs – Naples, Florida area? Contact David at [email protected] or 239-285-1086.