How’s the Condo Market in Pelican Bay in 2025?
As a follow up to my post How’s the Market in Naples in 2025? I have produced a simlar report for Pelican Bay Condos. As Condo sales account for 80% or more of all sales in Pelican Bay, I have not produced the charts for Single Family and Villa sales. Because of the much smaller number of those sales, they are more appropriately monitored on a quarterly basis and are included in my quarterly reports. Because there were only 3 very high-prices sales in November 2024 I have excluded that month from the chart. In general, the median price in recent years has been in the $1.1-1.5 million range, with the usual seasonal variations: Higher early in the year when more buyers of higher-priced properties are here, dropping in the summer and picking up again in the Fall.
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How’s the Market in Naples in 2025?
This is, naturally, the most asked question by both buyers and sellers.
While there are always anecdotal stories – about both high- and low-priced sales – I try in this blog to focus on facts, actual sales data, albeit recognising that sales take place 4-8 weeks after a contract is signed. So sales are a lagging indicator; but they are neither selective nor influenced by emotion.
While I normally focus on quarterly numbers in less seasonal markets, here in Naples the market fluctuates so much with the calendar – more higher-priced take place during “the season” – that I report monthly figures.
Here are the charts showing median prices since 2022 for all areas of Naples, broken down by property type. In broad terms the median price peaks each year in the early months, drifts lower in the summer months and recovers in the Fall. (more…)
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…)
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…)
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…)
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…)
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 Villas: “Bring me an Offer”
LA JOLLA is a small, lakeside community in Bay Forest with only 8 lakefront, 2- and 3- bed villas.
Number 22, with 3 beds and 3 full baths and 2,127 sq.ft., is currently off market and was last listed at $775,001. There is no other unit in Bay Forest that compares with this one, for location and condition, after the owner has invested some $275,000 in upgrades.
Go HERE to view phtos and videos.
Number 37, a 2-bed plus den, 1,568 sq ft unit, is listed at $579,000.Go HERE to view photos and video.
Contact me on 617.834.8205 to arrange a showing.
With the boardwalk nearing completion, two years after Hurricane Ian, residents will soon to be able to enjoy this great highlight of Bay Forest, with its new kayak launching ramp.
The completion of the boardwalk and the arrival of winter vistors should increase demand in Bay Forest. In anticipation of that, the seller of the Villas would like to have at least one of them sold – so he is open to offers!
Go HERE to view the Bay Forest website, read the latest Newsletter, and watch the 4-minute video of Bay Forest.
And HERE to read the latest news on the Boardwalk.
Bay Forest offers 3 Tennis, 3 pickleball courts, bocce, shuffleboard, fitness center and much more cater to active lifestyles, while the clubhouse, which also has a library, serves as the hub for social events and indoor activities.
Andrew.Oliver@Compass.com
Imperial Golf Estates Open House Friday October 4
THE ISLAND
1510 IMPERIAL GC BLVD, 133
2 Bed, 2 Bath
3rd (TOP) Fl, Garage
Dramatic Golf Course, Lake Views
1538 Sq.Ft , $418,000
OPEN HOUSE FRIDAY 11:30-1:30 or call me on 617.834.8205 for a private showing
Go HERE for photos, video, floor plan, etc
Andrew.Oliver@Compass.com
Open Houses Sunday September 22: Bay Forest and Imperial Golf Estates
BAY FOREST
15535 CEDARWOOD LN, 5-304 (BERMUDA BAY 1)
2 Bed+DEN, 2 Bath
3rd (TOP) Fl, Impeccable
Updated KITCHEN/Baths
1538 SF, Garage
$460,000
Go HERE for photos and video
OPEN HOUSE SUNDAY 11:30-1:00
IMPERIAL GOLF ESTATES
1510 IMPERIAL GOLF COURSE BLVD #133 (THE ISLAND)
3rd (TOP) FL, Garage
2 Bed, 2 Bath
Dramatic Golf Course, Lake Views
Extra large rooms, 1538 Sq.Ft, Garage
$418,000
Open HOUSE SUNDAY 1:30-3:30 (will be listed in MLS on Monday with photos and video)
Recent Market Reports
Naples Mid-Year 2024 Market Report
Bonita Springs Mid-Year 2024 Market Report
Fort Myers Beach Mid-Year 2024 Market Report
Please contact me for a market report that includes properties in your area which were recently listed or sold.
Economic and mortgage commentary
The Federal Reserve’s new buzzword: Recalibrate
Federal Reserve Chair Powell:The Time has Come
Earth to Federal Reserve: What are you waiting for?”
The Federal Reserve’s Analysis Paralysis
Andrew.Oliver@Compass.com
Naples Mid-Year 2024 Market Review
Despite some media reports suggesting a decline in Naples’ property prices, the data on completed sales supports my view that the market remains stable in overall terms as far as prices, while sales have returned to pre-COVID levels. This table shows Median Prices and Sales for Single Family, Villa and Condos
The median Price per Sq.Ft. increased for SFs in line with median prices, and was stable for Villa and Condos.
DTO – Days To Offer – the number of days a property is listed before an accepted offer is received – increased, but was still below 2020 speeds. (more…)