Naples area housing market sees renewed momentum in sales

Pending home sales in the Naples area surged in September, offering a signal of renewed momentum for the area’s real estate market after a year of uneven activity.

According to the September 2025 Market Report from the Naples Area Board of Realtors, pending sales rose 21.1% to 753 from 622 a year earlier — the first time since before the pandemic that September outpaced 2019 levels. Closed sales also climbed 10.7% year over year, from 544 to 602.

Brokers credited the uptick to calm weather, easing insurance costs and lower interest rates that have drawn more buyers back to the market. Inventory has also tightened, falling from a 13.1-month supply in January to 7.1 months in September.

“There’s been some local variation in the market over the past year,” said Sherry Stein, managing broker at Berkshire Hathaway HomeServices Florida Realty. “With interest rates trending slightly lower, buyer activity has increased as more people qualify for financing.”

Still, sellers in the luxury market have been slower to adjust. “It’s a tough position to navigate as a Realtor,” said Ryan Bleggi, managing broker for John R. Wood Properties. “It’s important for sellers to consider that they’re currently carrying a depreciating asset, foregoing interest income from an alternate investment or delaying a life goal.”

Adam Vellano, managing director of South and Southwest Florida at Compass Florida, said holding onto overpriced listings can cost luxury homeowners “tens of thousands of dollars per month.”

The median closed price in September slipped 6.3% to $550,000 from $586,780 in 2024, though still far above the $325,000 median in 2019. The ultra-luxury market — properties priced above $5 million — saw a 7.5% rise in its median price over the past year, reaching $7.5 million.

New listings lagged, down 11.5% from September 2024, but brokers expect inventory to rise as “shadow” listings re-enter the market.

“Looking at the data, I feel confident we are positioned to do very well this upcoming winter season,” said Molly Lane, senior vice president at William Raveis Real Estate. “Sellers are starting to adjust their expectations, and the increased sales over the summer are proof of it.”

Naples Beach led all regions with a 54.2% jump in single-family home sales and a 23.4% increase in condominium sales, underscoring a market that appears to be finding its footing once again.