Naples FL Housing Market

June 2023 Naples FL Housing Market Stats

The latest Naples FL housing market stats showed 837 properties sold for just over $861 Million. The highest-priced sale was for a single-family home for $14 million in Pine Ridge Estates. Additionally, 218 of the real estate transactions for the month were at or above $1 Million.

Overall inventory ended the month with 2,659 properties for sale. Although inventory increased 8 percent over the same time last year, it actually fell month-to-month. At the end of May, we had 2,749 properties for sale. By the end of June, inventory fell by 3 percent.

However, similar to other Southwest Florida cities, the numbers are very misleading. In May of 2019, before the pandemic, Naples had just over 5,531 properties for sale. Inventory ended the month at 48 percent of what we normally have during this time of year.

The demand remains strong for the luxury lifestyle Naples and other Southwest Florida cities have to offer. Naples was recently the 4th Best City to Retire by Travel + Leisure magazine. Sarasota took the top honors. The state’s population just passed 22.6 Million people and is expected to grow to 25.1 Million by 2032.

As more people move to Southwest Florida, airlines continue to make it even easier to get to Naples. For example, Breeze Airways just announced new direct flights for 9 additional destinations.

Bottom line, the Naples area continues to be a prime location for retirees and those who own vacation homes.

Naples Housing Market Statistics – June 2023

July 2023 versus July 2022 Highlights

• Closed sales decreased 14 percent compared to June of last year.
• Overall pending sales increased just under 1 percent versus the same time in 2022.
• Inventory increased 8 percent up from 2,457 homes to 2,659 homes for sale.
• Average days on market increased 163 percent up to 50 days compared to June of 2022.

In all, there were 441 single-family homes and 396 condos sold for a total of 837 sales during the month, which was a 14 percent decrease compared to the same time last year and a 17 percent fewer sales than the prior month. Overall inventory is up slightly over 2022,  however, it actually decreased by 90 properties from May to June.

The median single family price increased slightly up to $760,000 compared to the same time last year. However, it was down compared to the prior month when it was $805,250 in May.

Similarly, the median condo sale price was $480,000 which was down slightly from June of 2022. And, similar to single-family homes it was down from the previous month when the median condo sales price was $485,000.

Additionally, even though the number of days it took for a property increased significantly over this time last year (163% increase), it actually fell compared to the prior month when it was 53 days.

Finally, the latest show there was more room for negotiation from the list price during June. The percent of list price received decreased 2.9 percent to 96.2 percent, down from 99.1 percent in June of last year.

Bottom line, it remains a Seller’s market for BOTH condos and single-family homes. You still have time to cash in on the high buyer demand. What is my home worth…

With low inventory of existing homes for sale, there’s been a notable increase in buyers turning toward new construction. From ultra-luxury waterfront condos at The Ritz-Carlton Residences to bundled golf communities such as coach homes in Talis Park there are a wide array of options available.  Should I use a Realtor if I’m buying New Construction?

Whether you are buying or selling, let us help you navigate this complex market. The Naples Golf Guy team members are all REALTOR® professionals who have the expertise to provide you with timely and accurate market data. Call, email or text us today for all of your real estate needs – 239.370.0892.

Naples Florida Housing Market – Luxury Golf Home Sales in June

• $8,200,000 – 8665 Bay Colony Dr. Unit 502 in Pelican Bay with 2,870 sq. ft. (91% of list price)
• $7,000,000 –8665 Bay Colony Dr. Unit 404 in Pelican Bay with 3,0100 sq. ft. (96% of list price)
• $6,600,000 – 1664 Vineland Way in Landings at Bears Paw with 4,885 sq. ft. (95% of list price)
• $5,900,000 – 1927 Cocoplum Way in Grey Oaks with 5,600 sq. ft. (85% of list price)
• $5,750,000 – 2610 Bulrush Ln in Grey Oaks with 5,243 sq. ft. (100% of list price)
• $5,050,000 – 6597 Nicholas Blvd. Unit 704 in Pelican Bay with 3,650 sq. ft. (101% of list price)
• $4,800,000 – 8,171 Bay Colony Dr. Unit 903 in Pelican Bay with 2,604 sq. ft. (88% of list price)
• $4,500,000 – 711 Hollybriar Ln. in Pelican Bay with 3,971 sq. ft. (96% of list price)
• $4,325,000 – 6597 Nicholas Blvd. Unit 1704 in Pelican Bay with 3,650 sq. ft. (94% of list price)
• $4,200,000 – 3855 Isla Del Sol Way in Fiddler’s Creek with 6,864 sq. ft. (93% of list price)

New Listings in Golf Communities

If you just want to keep an eye on the market, we can set up a custom property search that is fully automated or sign up for automatic property alerts.  Please feel free to call us any time to set up the alerts for you based on your criteria.