March 2024
Quick Facts - 14.2 % + 6.0 % + 67.6 %
Naples Area Market Report
March 2024
Positive shifts and trends in the Naples area housing market during March continued to attract buyers and sellers . The March 2024 Market Report by the Naples Area Board of REALTORS ® ( NABOR ®), which tracks home listings and sales within Collier County ( excluding Marco Island ), reported a 67.6 percent increase in inventory to 5,283 properties from 3,153 properties in March 2023 . While home prices continue to appreciate steadily , up 6 percent in March to $ 649,000 from $ 612,000 in March 2023 , there were also 2,667 price decreases during March , the highest number of decreased reported in over five years . According to broker analysts , these decreases are not placing downward pressure on prices ; they are an indication that sellers are taking steps to stay competitive .
Closed sales in March decreased 14.2 percent to 893 from 1,041 closed sales in March 2023 . Despite rising home prices and an increase in insurance rates , cash offers on homes have surged . The report shows 63 percent of transactions reported in March were cash sales . Naples has a very high cash market .
The enduring appeal of Naples to the affluent home buyer , coupled with lower luxury home prices in the Naples area compared to other luxury markets and the steady growth in Naples area property values is driving sales now more than ever . There were 32 homes sold in the $ 5 million and above price range and 126 homes sold in the $ 1.5 to $ 5 million price range in March 2024 .
Closed sales of single-family homes in East Naples ( east of Collier Boulevard or 34114 , 34117 , 34120 , 34137 ) continues to outpace single-family home closed sales reported in all other areas in Naples .
This report covers Collier County , excluding San Marco Island . Percent changes are calculated using rounded figures .
Quick Facts - 14.2 % + 6.0 % + 67.6 %
Change in Total Sales All Properties
Price Range With the Strongest Sales :
$ 500,001 to $ 1,500,000
Change in Median Closed Price All Properties
Bedroom Count With Strongest Sales :
1 Bedroom or Fewer
Change in Homes for Sale All Properties
- 3.4 % + 5.5 % - 8.8 %
Property Type With Strongest Sales :
Single Family
Overall Market Overview Single Family Market Overview Condo Market Overview Overall Closed Sales Overall Median Closed Price Overall Percent of Current List Price Received Overall Days on Market until Sale Overall New Listings by Month Overall Inventory of Homes for Sale Overall Listing and Sales Summary by Area Naples Beach North Naples Central Naples South Naples East Naples Immokalee / Ave Maria
Current as of April 10 , 2024 . All data from Southwest Florida MLS . Report © 2024 ShowingTime Plus , LLC .
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