Naples Housing Market Update – December 2024
(Data from October 2024 compared to October 2023)
Inventory Growth Creates Opportunity for Early-Season Buyers
Naples, Fla. (December 5, 2024) –Naples continues to stand out as one of Florida’s most desirable destinations for homebuyers, offering a blend of lifestyle, luxury, and resilience. In fact, it was just named Best Place to Retire in the United States. Even as the market adjusts to broader economic factors, October showed promising opportunities for buyers, with inventory reaching its highest levels in years and prices beginning to soften in some segments.
For buyers considering Naples, the increasing availability of homes—now approaching pre-pandemic levels—means more options to find the perfect fit, whether you’re looking for a single-family home, a beachfront condo, or something in between. And while other markets may struggle with uncertainty, Naples remains a beacon of stability and opportunity.
Naples Area Board of REALTORS® (NABOR®), October 2024 Market Report. Full report available here.
A Market with More Choices
October saw 4,746 active listings, up 30.9% compared to last year. This growth provides buyers with a broader selection, encouraging healthy competition that’s beginning to stabilize prices. The overall median closed price decreased by 3.6% year-over-year to $568,500, driven largely by shifts in the condo market. For single-family homes, demand remains strong, with their median price increasing by 3.2% to $727,500.
Key October Highlights:
- Inventory Surge: Active listings climbed by 30.9%, offering buyers more options and a balanced market.
- Price Adjustments: Overall median closed price declined slightly (-3.6%), with condominiums leading the way (-8.1%), while single-family homes held their value with a 3.2% increase.
- Extended Buying Windows: The average days on market increased to 89 days (+58.9%), giving buyers more time to explore their options.
Why Buyers Love Naples
Naples isn’t just about real estate—it’s about lifestyle. From its pristine beaches to its vibrant arts and dining scene, Naples offers an unparalleled living experience. The area is known for its high-quality construction and thoughtful community planning, ensuring that homes here are built to meet both aesthetic and practical needs. Whether it’s the charm of Old Naples or the luxury of coastal living, Naples remains an enduring favorite for buyers seeking a slice of paradise.
Looking Ahead to 2025
As we approach the new year, the Naples market shows strong potential for continued growth and opportunity. Legislative efforts to ease reserve funding requirements for condominiums could provide added relief for buyers and associations alike, enhancing affordability in this segment. Coupled with Naples’ unmatched lifestyle and robust infrastructure, the future looks bright for buyers ready to make their move.
Your Move, Your Market
Whether you’re buying your first home, upgrading, or investing in a vacation property, Naples offers a unique mix of options and opportunities. With more inventory, balanced prices, and a welcoming community, there’s never been a better time to explore what this market has to offer. Connect with a Naples REALTOR® today to start your search for the perfect home in paradise.
Expert Guidance
For those looking to buy or sell, now is an excellent time. Higher inventory and competitive pricing create favorable conditions. Partner with a knowledgeable Naples REALTOR® to navigate this dynamic market successfully.
It’s time.
Shawn Stuben
