03/28/2025
Naples, Fla. (March 28, 2025) – According to the February 2025 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), inventory increased 35.8 percent to 7,320 properties from 5,389 properties in February 2024. Overall closed sales decreased 9.5 percent to 584 closed sales in February 2025 from 645 closed sales in February 2024, but it increased 6 percent compared to closed sales reported in January 2025 (511 closed sales). And although the overall median closed price in February increased 4 percent to $650,000 from $625,000 in February 2024, the report also showed sellers taking action to stay competitive with 2,883 price decreases reported during the month to contend with the growing number of properties on the market.
“Two years ago we were complaining about having only 2,800 homes in inventory,” said Mike Hughes, Vice President and General Manager for Downing-Frye Realty, Inc. “February’s inventory was far from the 12,000 properties we had in inventory during March 2007, but that’s a good thing because the circumstances are very different today.”
The lax lending standards that ultimately led to a high number of foreclosures and short sales in 2007 is not occurring in 2025. Hughes and other brokers reviewing the February Market Report say today’s seller is better positioned than a seller in 2007 because most have built substantial home equity.
“If you bought a home before the pandemic, you’re in a very good position if you decide to sell today,” said Adam Vellano, Managing Director of South and Southwest Florida at Compass Florida.
Diving into the Data:
“Deceleration was an eventuality,” said Budge Huskey, CEO, Premier Sotheby’s International Realty, “The report shows evidence that our market is self-correcting. Prices are not appreciating at an alarming rate anymore, and sales in 2025 have slowed slightly for a number of reasons like recent economic disruptions and a general lack of buyer urgency.”
Broker analysts recommend working with a REALTOR® who understands the Naples market because market conditions vary widely based on home location and home type. For example, the February report shows the overall median closed price for properties in Naples increased 4 percent, but the median closed price for single-family homes in Central Naples [34104, 34105, 34116] decreased 28.7 percent. Conversely, the median closed price of single-family homes in the Naples Beach area (34102, 34103, 34108) increased 82.2 percent. 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. Similarly, the median closed price of condominiums decreased .4 percent in February; but in Ave Maria, the median closed price of condominiums increased 13.4 percent.
According to Cindy Carroll of Carroll & Carroll Appraisers & Consultants, LLC, “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.”
Hughes responded, “Sellers fall into two groups today: those who are inching prices down but not catching up to the market; and those that are making significant cuts to get ahead of the pack.”
The NABOR® February 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:
