Naples Area Market Report Naples Area Market Report | Page 2

January 2024
Quick Facts - 14.2 % - 0.8 % + 58.8 %

Naples Area Market Report

January 2024
Data in the January 2024 Market Report showed invigorated confidence in the Naples area housing market for both sellers and buyers . Overall inventory continued to climb for the sixth straight month resulting in a 58.8 percent increase in homes for sale in January or 4,639 properties from 2,921 in January 2023 . Fueled by a 29.1 percent increase in new listings year over year , January showings doubled compared to showings reported in December 2023 . The first month of the year also saw serious sellers taking action to capture increased buyer attention with 1,804 price decreases , a 122.7 percent increase compared to December ’ s 810 price decreases .
The report showed 6.4 months of inventory for January compared to . 9 months of inventory in January 2022 , when frenzied pandemic buying began to simmer . Brokers reviewing the report said buyer intent has shifted from pandemic years of “ I want a home in Naples ,” to a more sensible climate today of “ I want the right home in Naples .”
With more competition , REALTORS ® who represent a buyer or seller must look at hyper-local factors such as location within a neighborhood , competition within each price range , and extenuating factors that may influence insurance coverage and affordability such as the age of the home or claim history .
While pending sales in January decreased 7.5 percent to 1,010 pending sales from 1,092 pending sales in January 2023 , pending sales activity for January increased 73.2 percent compared to pending sales activity reported in December 2023 ( 583 ).
First-time homebuyers and those seeking homes under $ 500,000 will be pleased to hear that inventory in this price range increased 58.6 percent in January . In fact , inventory for condominiums priced under $ 300,000 increased 112 percent during the month . Notwithstanding , and because Naples is paradise , inventory for condominiums over $ 5 million increased 182.6 percent in January .
This report covers Collier County , excluding San Marco Island . Percent changes are calculated using rounded figures .

Quick Facts - 14.2 % - 0.8 % + 58.8 %

Change in Total Sales All Properties
Price Range With the Strongest Sales :
$ 1,500,001 to $ 5,000,000
Change in Median Closed Price All Properties
Bedroom Count With Strongest Sales :
3 Bedrooms
Change in Homes for Sale All Properties
- 4.3 % - 11.2 % - 9.5 %
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 February 10 , 2024 . All data from Southwest Florida MLS . Report © 2024 ShowingTime .
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