HISTORICAL MARKET REPORTS

January 2023

(March 1, 2024) – Data in the January 2024 Market Report showed invigorated confidence in the Naples area housing market for both sellers and buyers. Overall inventory continued to climb for the sixth straight month resulting in a 58.8 percent increase in homes for sale in January or 4,639 properties from 2,921 in January 2023. Fueled by a 29.1 percent increase in new listings year over year, January showings doubled compared to showings reported in December 2023. The first month of the year also saw serious sellers taking action to capture increased buyer attention with 1,804 price decreases, a 122.7 percent increase compared to December’s 810 price decreases.

NOVEMBER 2023

(December 26, 2023) – Overall inventory of homes in Naples for November increased 38.8 percent to 3,795 properties from 2,734 properties in November 2022. Buyers have not enjoyed a level of choice since September 2020. The month also included 1,080 price decreases resulting in a 3.3 percent decrease in overall median closed price. According to the November 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), data showed the housing market is poised to enjoy healthy winter sales, but it will depend on whether sellers continue to price their homes to sell and whether buyers feel the investment is right.

OCTOBER 2023

(November 27, 2023) – Real estate brokers reviewing the October 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), were encouraged to see a 31.8 percent increase in new listings to 1,231 new listings from 934 new listings in October 2022. The report also showed the median closed price of homes in Naples during October increased 4.5 percent to $580,000 from $555,000 in October 2022. According to broker analysts, these two factors indicate rumors of an extreme market correction were false. They also illustrate renewed seller confidence, which will be good news for buyers seeking more options in the coming months.

SEPTEMBER 2023

(October 27, 2023) – New listings in Naples during September increased 27.3 percent to 937 new listings from 736 new listings in September 2022, making pre-season buyers very happy. According to the September 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), overall inventory continues to inch upward at a steady pace. For September, inventory for the single family home and condominium markets increased 13.2 percent to 2,793 properties from 2,468 properties in September 2022. The report also demonstrated that pre season homebuying is starting earlier every year as pending sales (homes under contract) in September increased 18.7 percent.

AUGUST 2023

(September 22, 2023) – Inventory is selling quickly, and prices are stable in the Naples housing market. According to the August 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), closed sales of homes in Naples during August increased 17 percent compared to July closed sales, and 1.9 percent to 702 closed sales from 689 closed sales in August 2022. Brokers who reviewed the Market Report are confident sales during the second half of 2023 could outperform sales during the second half of 2022, unless we experience another major disaster like a hurricane. Another promising factor that supports this expectation is the steady rate of new listings, which increased 2.6 percent in August, and contributed to the 7.2 percent increase in inventory for the month.

JULY 2023

(August 25, 2023) – While much of America grapples with unfamiliarly high interest rates that have stalemated the resale home market, broker analysts reviewing the July 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), point to data that shows home sales activity in Naples has remained steady for the past year despite several interest rate increases. Yet, even as cash sales for homes in Naples decreased from 66.7 percent in January to 53.5 percent in July, the overall median closed price of homes in the first seven months of 2023 has continued to increase compared to most months in the first seven months of 2022.

JUNE 2023

(July 21, 2023) – Broker analysts reviewing the June 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), believe a surge in summer travel contributed to the reduction in home sales in Naples during June. The report showed a 13.6 percent decrease in overall closed sales for the month to 837 closed sales from 969 closed sales in June 2022. Overall inventory continues to rise compared to 2022 levels. June had an 8.2 percent increase in overall inventory to 2,659 homes from 2,457 homes.

MAY 2023

(June 23, 2023) – A slight reduction in overall median closed price along with fewer new listings during May indicates a window of opportunity for both buyers and sellers this summer. According to the May 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), overall median closed price decreased 1.2 percent to $600,000 from $607,500 in May 2022. There were also 1,045 price decreases and a 31.2 percent decrease in new listings reported during the month.

APRIL 2023

(May 26, 2023) – The Naples real estate market enjoyed another month of increased home values driven mainly by another month of below typical inventory levels. According to the area’s top real estate brokers, resale home inventory in Naples this year will unlikely spike to levels we enjoyed before the pandemic. However, since 2019, the number of new listings each month has remained fairly consistent, with most months enjoying an average of between 1,100 and 1,300 new listings. According to the April 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), overall inventory increased 64.4 percent in April to 2,868 homes for sale from 1,745 homes for sale in April 2022.

MARCH 2023

(April 26, 2023) – Closed sales of homes in Naples during the first quarter of 2023 exceeded closed sales reported in the first quarter of 2019 (pre-COVID) when inventory levels were nearly three times the current level. According to the March 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), overall inventory in March increased 92.4 percent to 2,900 properties from 1,507 properties in March 2022. While still historically low at 3.6 months of inventory, overall inventory in Naples has continued to increase ever since it bottomed out at 0.8 months of inventory in December 2021.

FEBRUARY 2023

(March 24, 2023) – Buyers looking for homes in Naples during February were met with more choices as overall inventory increased 131.4 percent to 2,835 properties from 1,225 properties in February 2022. Broker analysts reviewing the February 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), attribute some of the rise in inventory to Hurricane Ian as many sellers were forced to address and remedy damage caused by the storm before the property was ready to welcome buyers. February’s overall median closed price is the same as January’s median close price of $600,000.

JANUARY 2023

(February 24, 2023) – Evidence of growing confidence in the Naples real estate market revealed itself in January as a wave of new sellers entered the market during the month. New listings in January rose 74.5 percent compared to December 2022, and 3.2 percent to 1,338 new listings from 1,297 new listings a year ago according to the January 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). But the rise in home options during January did not stymy home values as median closed prices rose 11.1 percent to $600,000 from $540,000 in January 2022.

DECEMBER 2022

(February 1, 2023) – In the first year after a two-year interruption in normal activity caused by the COVID-19 pandemic, the Naples real estate market is stable in terms of value, but there are not as many homes to choose from, and prices have elevated. As pandemic restrictions loosened in 2022, sellers and buyers pivoted their attention from the housing market to the travel market. As a result, and according to the December 2022 and 2022 Annual Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), overall closed sales in 2022 decreased 34.8 percent to 10,156 properties from 15,570 properties in 2021. And while inventory is beginning to rebound, increasing 106.3 percent to 2,465 properties in December 2022 from 1,195 properties in December 2021, broker analysts reviewing the report are uncertain where and when an influx of inventory will arrive to meet our prepandemic levels.

NOVEMBER 2022

(December 22, 2022) – According to the November 2022 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), there were 552 overall closed sales in November, which is a 41.4 percent decrease from 942 closed sales recorded in November 2021. The post-pandemic home buying surge that took place when mortgage rates were historically low has ended. Housing inventory in Naples is on the rise but remains low at just 2.8 months of inventory reported in November (a balanced market has a six-month supply of inventory). As expected, the limited inventory environment in Naples is restricting sales and increasing prices. Though broker analysts reviewing the report pointed out that cash sales accounted for 62.3 percent of closed sales in November; it is an indication that the Naples housing market remains a solid investment. The November report showed inventory rose in all price categories except the $300,000 and below category, which decreased 14.2 percent from 127 to 109 properties. Overall inventory in November rose 96.8 percent to 2,478 properties from 1,259 properties in November 2021. Comparatively, in November 2019 there were 5,563 properties in inventory, which was split between 2,771 single-family homes and 2,792 condominiums. Today, the inventory is single-family home heavy, which accounts for 63 percent of all homes for sale in Naples. November’s overall median closed price increased 20.4 percent to $600,000 from $498,500 in November 2021.

OCTOBER 2022

(November 23, 2022) – Speculation that home sales in October would drop dramatically in Collier County following Hurricane Ian was proven inaccurate as closed and pending sales for the month increased 23.7 and 8.7 percent, respectively, compared to closed and pending sales reported in September, according to the October 2022 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). And even though 525 listings were either terminated, expired or withdrawn from the Southwest Florida MLS during October, overall inventory for the month increased 72.7 percent to 2,325 properties from 1,346 properties in October 2021.

SEPTEMBER 2022

(October 21, 2022) – The impact of Hurricane Ian, as witnessed on the last two days of September, is not reflected in the September 2022 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). Given this, September’s data showed a predictable pattern of slow closed and pending sales with a slight increase in inventory, which is traditionally the case in historically stable Septembers. While the report captured activity prior to Hurricane Ian’s arrival, broker analysts who reviewed the report on October 18th are confident Naples’ recovery will be swift and the resiliency of its home values will be protected.

AUGUST 2022

(September 23, 2022) Naples Area Board of Realtors Market Report: Overall closed sales decreased 43.4% to 662 closed sales from 1,170 closed sales in July 2021 … Market experts … say buyers should not expect home values to drop dramatically. While year over year price growth is trimming,
demand is still high, and inventory is still not at pre-pandemic 2019 levels. The median closed price in July increased 16 percent to $545,000 from
$469,950 in July 2021; it decreased 9.8 percent from $604,000 in June 2021. While down compared to July 2020 and July 2021, the number of new
listings coming on to the market this July [944] was still slightly higher than it was in July 2019 [935].