March 2023 Naples Housing Market Statistics

The latest Naples housing market statistics showed 1,017 properties sold for just over $1.1 Billion. The largest sale was for $32.5 million in Olde Naples along Gulf Shore Blvd. Additionally, 281 or 27.6 percent of the real estate transactions for the month were at or above $1 Million.

Inventory levels continue to move in the right direction. March ended the month with 2,900 properties for sale. However, similar to other Southwest Florida cities, the numbers are very misleading. In March of 2019, before the pandemic, Naples had just over 6,800 properties for sale. Inventory ended the month at 42 percent of what we normally have during this time of year.

Demand remains strong for the Florida lifestyle. In fact, the Sunshine State is officially the fastest-growing state according to the Census Bureau. The population has surpassed 22 million people and continues to grow.

Bottom line, prices continue to rise due to low inventory and persistent demand.

Naples Housing Market Statistics – March 2023

March 2023 versus March 2022 Highlights

• Closed sales decreased 17 percent compared to March of last year.
• Overall pending sales decreased 15 percent versus the same time in 2022.
• Inventory increased 92 percent up from 1,507 homes to 2,900 homes for sale.
• Average days on market increased 123 percent up to 49 days compared to March of 2022.

In all, there were 495 single-family homes and 522 condos sold for a total of 1,017 sales during the month, which was a 17 percent decrease compared to the same time last year. While inventory is up significantly over last year, it only increased by 65 properties or 2.2 percent from February to March.

Overall, the median single family price increased significantly from $600,000 in February up to $740,000 in March. Similarly, the median condo sale price was $491,450 which was a 5.9 percent increase over the same time last year. However, unlike single-family homes, the median sales price dropped slightly from $495,000 in February down to $491,450 in March.

Additionally, even though the number of days it took for a property increased significantly over this time last year (123% increase), it actually decreased 49 days compared to February of this year when it was 54 days.

For Buyers, the trend of increased inventory is a good sign depending on the neighborhood. For Sellers, the increased inventory will lead to more competition and has the potential to impact your sales price.

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.

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.

Naples Housing Market Update – Luxury Golf Home Sales in March

• $7,800,000 – 1450 Gulfstar Dr. S. in Windstar with 6,104 sq. ft. (98% of list price)
• $6,450,000 – 7425 Pelican Bay Blvd. Unit 2102 in Pelican Bay with 4,280 sq. ft. (100% of list price)
• $6,250,000 – 15303 Corsini Ln. in Mediterra with 6,376 sq. ft. (96% of list price)
• $6,250,000 – 15287 Corsini Ln. in Mediterra with 8,579 sq. ft. (96% of list price)
• $5,250,000 – 3105 Dahlia Way in Grey Oaks with 4,432 sq. ft. (96% of list price)
• $4,800,000 – 16995 Verona Ln. in Mediterra with 4,734 sq. ft. (96% of list price)
• $4,400,000 – 6551 Ridgewood Dr. in Pelican Bay with 3,194 sq. ft. (100% of list price)
• $4,150,000 – 2508 Spicebush Ln. in Grey Oaks with 3,763 sq. ft. (94% of list price)
• $3,995,000 – 6957 Nickolas Blvd. #1205 in Pelican Bay with 2,700 sq. ft. (101% of list price)
• $4,000,000 – 9067 Breakwater Dr. in The Quarry with 4,000 sq. ft. (100% of list price)

Southwest Florida Luxury Golf Properties Just Listed…

Time to Sell Your Home?

With almost 20 years of experience helping sellers with their golf community real estate needs, we would like to share our strategy for how we are helping maximize the number of offers homeowners are receiving and ultimately higher sales prices.

As an experienced real estate team, we have made a career out of helping people sell homes in premier golf communities. As you may well know, opportunities such as today’s market for sellers only comes every so often.