NAPLES Q1 2025 MARKET REPORT
The median price of SFs and Villas sold in Q1 2025 reached record levels, while the median price of the Condos sold, while lower than in Q1 2024 was still higher than in the second half of 2024.Bear in mind that Q1 sales reflect contracts agreed in late 2024/early 2025, while market sentiment changed after that; it is likely that Q2 numbers will show a decrease.
PSF is another way of looking at the market. Q1 showed a nice cadence: $403 for SF, $351 for Villas and $307 for Condos. (more…)
BONITA SPRINGS Q1 2025 MARKET REPORT
For Bonita Springs overall, median prices were mixed in the 1st Quarter of 2025: SF higher than in Q1 2024, Villas and Condos lower. Sales continued to drop.
The median Price per Sq.Ft. was lower all round, while the pace of sales was back to pre-COVID days. (more…)
BAY FOREST 2024 MARKET REPORT and 5-YEAR REVIEW
Median Price and Sales
The median price of the properties sold in Bay Forest increased dramatically from $275,000 in 2020 to $475,000 in 2023, before retreating in 2024. Sales in 2024 recovered from the drop in 2022 and 2023.
Condos, which sell at lower prices than Villas, were a bigger share of the market in 2024 and had a larger effect on the overall median price. (more…)
IMPERIAL GOLF ESTATES 2024 MARKET REPORT and 5-YEAR REVIEW
Median Price and Sales
The median price of the Single Family homes sold in Imperial Golf Estates (Imperial) has more than doubled since 2020, while sales recovered in 2024 from the slowdown in 2022 and 2023.
The median price of the small number of Villas sold in Imperial has continued to increase year by year, while sales have been at a consistent level.
The median price of the Condos sold in Imperial in 2024 showed a small decline, but sales were just half the 2023 level.
While Inventory has increased sharply from the extremely low levels of 2022/23, it is at the low end of the pre-COVID levels at the beginning of the season.
Price per Sq Ft (PSF) and Speed of Sales (Days to Offer Accepted – DTO) (more…)
BONITA BAY MARKET 2024 MARKET REPORT and 5-YEAR REVIEW
Median Price and Sales
The median price of the Single Family homes sold in Bonita Bay more doubled from $1.1 million in 2020 to $2.5 million in 2022 and has been stable since.
Sales increased from 2019 to 2021, dropped back, and them increased in 2024.
The median price of the Villas sold in Bonita Bay has continued to increase year by year, and sales also increased last year,
The median price of the Condos sold in Bonita Bay has also continued to increase. On the surface, the median price jumped to $1.275 million in 2023, but the 41 sales at Omega boosted the median price. Without those sales, the 2023 median price would have been $820,000, meaning there was an underlying increase again in 2024. Excluding the Omega sales in 2023, the 2024 figure was steady.
While Inventory has doubled from the extremely low levels on 2022/23, it has returned to more normal levels at the beginning of the season.
Price per Sq Ft (PSF) and Speed of Sales (Days to Offer Accepted – DTO)
PSF is another way to look at prices.
The PSF has increased significantly in recent years, in line with median prices.
The pace of Sales quickened dramatically until 2022. 2024 presented mixed picture. (more…)
PELICAN BAY MARKET 2024 MARKET REPORT and 5-YEAR REVIEW
Median Price and Sales
The median price of the Single Family homes sold in Pelican Bay more doubled from $2.25 million in 2020 to $4.7 million in 2024.
Sales increased until 2021 and have since dropped back below pre-pandemic levels.
The median price of the Villas sold in Pelican Bay increased from $1.5 million in 2020 to $1.875 million in 2024, but declined from 2022/23 levels.
The number of sales increased in 2020/21, but has since dropped back to pre-pandemic numbers.
The median price of the Condos sold in Pelican Bay increased 45% from $750,000 in 2020 to $1.3 million in 2024, and was stable from 2022-24. Sales have also dropped sharply since 2021.
Price per Sq Ft (PSF) and Speed of Sales (Days to Offer Accepted – DTO)
PSF is another way to look at sales. (more…)
BONITA SPRINGS 2024 MARKET REPORT and 5-YEAR REVIEW
Median Price and Sales
The median price of the properties sold in Bonita Springs increased dramatically during the cheap money period after COVID. Single Family and Condo median prices increased almost 60% from 2020 to 2022, while Villa median prices increased by 90%.
Prices have been more stable in the last 2 years. There are always quarterly fluctuations in real estate sales and median prices. In Southwest Florida that can be exacerbated by the seasonal nature of the market. Many of the more expensive properties are bought by people wintering here and thus – except during the post COVID rush – median prices are often strongest during the winter months.
If prices fall during the second half of a year, it is hard to tell whether that decline reflects just the lower price of the properties that did sell, or a reduction in actual prices. What can be said in early 2025 is that attorneys report a pick-up in activity after the Election, which removed an uncertainty, and agents are reporting that Open Houses in early January have been very busy.
Overall sales – of all property types – surged until around Q3 2021, and then almost halved from 2021 to 2024, when they were at the lowest since 2009.
(more…)
NAPLES 2024 MARKET REPORT and 5-YEAR REVIEW
Median Price and Sales
The median price of the properties sold in Naples increased dramatically during the cheap money period after COVID. Single Family median prices increased almost 60% from 2020 to 2022; Villa and Condo median prices by two-thirds.
Prices have been more stable in the last 2 years. There are always quarterly fluctuations in real estate sales and median prices. In Naples that can be exacerbated by the seasonal nature of the market. Many of the more expensive properties are bought by people wintering in Naples and thus – except during the post COVID rush – median prices are often strongest during the winter months.
If prices fall during the second half of a year, it is hard to tell whether that decline reflects just the lower price of the properties that did sell, or a reduction in actual prices. What can be said in early 2025 is that attorneys report a pick-up in activity after the Election, which removed an uncertainty, and agents are reporting that Open Houses in early January have been very busy.
Overall sales – of all property types – surged until around Q3 2021, and then halved from 2021 to 2024, when they were at the lowest since 2010.
(more…)
Naples Housing Market Surges in January 2025
The Naples real estate market kicked off 2025 with strong momentum, as buyers and sellers saw new opportunities amid rising inventory and stable price trends. According to the latest report from the Naples Area Board of REALTORS® (NABOR®), closed sales in January increased by 12%, with 551 homes sold compared to 492 in January 2024.
The median closed price rose 9.4% year-over-year, reaching $659,000, signaling continued demand for homes in the area. However, while appreciation has slowed from the rapid increases seen in 2021 and 2022, the market remains dynamic, with price fluctuations depending on property type and location.
Inventory Expands, Giving Buyers More Choices (more…)
Bay Forest, Imperial, PRICE REDUCTIONS and OPEN HOUSES
The Bay Forest Boardwalk is finished and just waiting on permits to open offically. Several properties have reduced prices this weekend so now is a GREAT time to buy!
SATURDAY OPEN HOUSES
THE ISLAND, IMPERIAL GOLF ESTATES
10 AM – 12 PM
1510 IMPERIAL GC BLVD, 133
2 Bed, 2 Bath
3rd (TOP) Fl, Garage
Dramatic Golf Course, Lake Views; 1538 Sq.Ft,
LARGE ROOMS, FEELS LIKE SINGLE FAMILY LAYOUT
$399,000 now $380,00
GO HERE for photos, video, floor plan, etc
BAY FOREST OPEN HOUSE SATURDAY 1-3 PM
LAKESIDE VILLA IN RARELY AVAILABLE LA JOLLA
15455 ROYAL FERN LN N, #37A
2 Bed+DEN, 2 Bath
GARAGE
$533,000 now $505,000
Go HERE for photos, video etc
SUNDAY OPEN HOUSES
BAY FOREST
OPEN HOUSE 12:30-2:30 PM
SANDY PINES
15450 CEDARWOOD LN #203
STUNNING LAKE VIEW
COMPLETELY UPDATED
2 bed 2 Bath; Garage
$525,000 now $499,000
Go HERE for photos and more
OPEN HOUSE 2-4 PM
15348 WIMBORNE LN
Rarely available Sea Pines I single-family home . FLEXIBLE floor plan allows for two or three bedrooms, plus a family room and office, DOUBLE GARAGE and 34ft LANAI
$640,000 now $600,000
Go (a href=”https://tour.realtoursswfl.com/sites/15348-wimborne-ln-naples-fl-34110-13212150/branded”<HERE for photos and more
OPEN HOUSE SUNDAY 2:45-4:45 PM
BERMUDA BAY 1
15435 CEDARWOOD LN, 5-304
2 Bed+DEN, 2 Bath
3rd (TOP) Fl, Impeccable
NEW A/C, NEW Ductwork
Updated KITCHEN/Baths
Garage, $460,000
Go HEREfor photos, videos and more
Andrew.Oliver@Compass.com
How’s the market in February 2025?
This table shows median prices for all types of property sold in Naples month by month since 2020. There are a couple of outliers, but in general median prices have been in the $600-650,000 range. January 2025 was a little higher at $675,000.
This table shows Active Listings divided by Sales in the last 12 months. The Months of Inventory number means how long it would take to sell the current inventory based upon the rate of sales in the previous year.Generally ,in real estate, 6 months of supply is regarded as a market in equilibrium between buyers and sellers: a higher number favours buyers, a lower number sellers.
Southwest Florida is, of course, a seasonal market. The following chart shows that sales – which typically occur 6-8 weeks after a contract is signed – are at their highest in March-May, and lowest in October – January. Which makes sense. Inventory is highest in the early months, drops in the summer, and then picks up as we get towards the next season.
Comment
Anecdotal stories are intriguing, but often very selective. I try to present the actual numbers as a basis for making informed decisions by both sellers and buyers.
Andrew.Oliver@Compass.com
Bay Forest Open House TODAY 1-3 PM
This stunning 2nd-floor condo with cathedral ceilings offers a blend of luxury, modern updates, and tranquility, and comes fully furnished.Go HERE for more photos, video, and more.
Come to today’s Open Houses 1-3 PM or call Andrew Oliver:617.834.8205 for a private showing
As you step inside, you’ll be captivated by the breathtaking view through the lanai overlooking the lake, elegant wood laminate flooring and soaring ceilings.
The updated kitchen boasts quartz countertops and stainless steel appliances, seamlessly blending style and functionality.
Property Features: 2 split bedrooms and 2 bathrooms; garage; Updated kitchen with quartz counters and stainless steel appliances;Stylish wood laminate flooring throughout; roof less than 3 years old.
Located in Sandy Pines, this home is ideally positioned near the community pool and a short walk to the clubhouse, where you can enjoy Bay Forest’s renowned amenities.
Bay Forest spans 150 acres of natural beauty, bordering the Gulf backwaters. A new $4.5 million boardwalk, which is completed and awaiting final permits, will be the highlight of Bay Forest’s over two miles of walking paths and meander through mangroves to Gulf estuaries.
Resurfaced tennis and pickleball courts (three of each), bocce, and shuffleboard.
Clubhouse Amenities: Social events, fitness center, library, kitchen, bar, and more.
Delnor Wiggins and Barefoot Beaches are just minutes away and it is 30 minutes to Southwest Florida International Airport.
Andrew.Oliver@Compass.com
Naples and Bonita Springs 2024 Market Stats
Here are the 2024 Market Stats and 2021-24 comparsions for Naples, Bonita Springs, and selected communities.
Click on the chart to see it in full size.
Andrew.Oliver@Compass.com
Why do people buy New Homes?
Many buyers today flock to newly built homes for several reasons:
1. They simply want NEW. New everything. This can include homes designed for today’s needs and demands, often with finishes, mechanicals, amenities, etc that don’t exist in most existing homes.
2. They don’t wish to undergo a renovation either due to lack of will, or know-how. Most know a renovation is rarely quick, cheap or easy. While an unrenovated home may be far ‘cheaper’, often after a renovation (including the cost of living somewhere while the renovation occurs) the final cost ends up being similar.
3. When you buy brand new, you can finance the entire purchase: property AND renovation (as no renovation is needed). This means you need less cash after closing and may allow you to put down more cash when buying, thereby bringing down monthly expenses/mortgage cost.
4. Every home needs repairs and maintenance over time. Brand new homes too, but often their systems being brand new mean fewer big-ticket repairs/maintenance costs.
5. New homes are built according to new building CODES…. often they are more energy efficient AND resilient. New codes often address the weaknesses of past building codes.
6. Many buyers have shifted their preference to a more modern aesthetic. No, most new buildings are not minimalist, but buyers today often like taller ceilings, bigger windows, open kitchens, bigger bathrooms, etc, the kind of things developers are installing into new homes. This can exist in a sleek all glass box, or a more traditional, even historic-appearing facade.
7. In a FOMO world, brand new can deliver instant gratification. And use. Time Is The Last Luxury.
8. Often hiring a big-name designer of an ultra-luxe building to do one home would be prohibitively expensive: this economy of scale can have real value to those seeking ultra-luxe design.
At COMPASS we have everything from single family starter homes to mansions, condos in 3-unit buildings and townhouses to massive, fully amenitized buildings with hotel services. At all price points, not just those ultra-luxe multi-million-dollar-productions.
Andrew.Oliver@Compass.com