Brokers reviewing the March market report from the Naples Area Board of Realtors agree that the Naples area housing market has become a buyer’s market as reflected in a 36.1% increase in overall inventory to 7,483 properties during the month. Overall closed sales decreased 9.3% year over year to 820 closed sales. Even with 3,305 price decreases reported during March — the highest on record — overall pending sales decreased 7.3% to 1,212. Inventory levels have exceeded pre-pandemic levels. With more options for buyers to consider, days on the market for March increased 26.5% to 86 days. In addition, the 5.1% increase in new listings to 1,617 new listings pushed the market to an 11.4–month supply of inventory, compared to 7.7 months in March 2024.