As we close out 2024, the Naples housing market continues to show remarkable resilience, even amid challenges like hurricanes, rising inventory, and shifting dynamics. Naples remains a timeless destination that blends luxury, natural beauty and an unparalleled quality of life, making it one of the most desirable places to live and retire.
Additionally, Naples has solidified its position as a premier destination. In November, 2024 Naples earned the title of #1 Place to Retire in the U.S. by U.S. News & World Report. This ranking reflects Naples’ high marks in happiness, affordability, desirability, health care quality, retiree taxes, and job market—key factors that make it the ultimate choice for retirees.
FOR BUYERS
1. MORE INVENTORY, MORE OPPORTUNITY:
Active listings rose 30.9% year-over-year, nearing pre-pandemic levels with 4,746 properties. Buyers now enjoy greater flexibility, particularly with updated homes featuring passed milestone inspections and modern building code compliance.
2. CASH STILL DOMINATES:
While 48.6% of sales were cash, financed buyers are finding opportunities as inventory rises and price reductions—1,003 in October—offer room for negotiation.
3. PRICING SHIFTS BENEFIT BUYERS:
Overall median prices dropped 3.6%, with condos seeing an 8.1% decline, creating value opportunities. Single-family homes, however, saw a 3.2% price increase, reflecting ongoing demand for well-maintained, storm-ready homes.
4. HURRICANE-READY HOMES IN DEMAND:
Buyers are prioritizing properties with modern storm protections, updated infrastructure, and flood-ready locations. These homes are not only safer but hold stronger value in this resilient market.
5. A STRONG FINISH TO 2024:
Despite distractions from hurricanes and the election, new listings rose 13.9% month-over-month in October, providing a strong end-of-year opportunity for buyers.
FOR SELLERS
1. INCREASING COMPETITION:
Rising inventory and longer days on market—averaging 89 days—mean sellers must price competitively and highlight unique features like hurricane-readiness or recent updates to attract buyers.
2. CONCESSIONS ARE KEY:
Many sellers are offering incentives like rate buy-downs and closing cost contributions to stand out in a more competitive market.
3. RESILIENCE IN SINGLE-FAMILY HOMES:
Single-family home median prices rose to $727,500, showcasing their enduring value. Meanwhile, condo sellers should prepare for price-sensitive buyers and focus on well-maintained or updated units.
4. STORM-READY INFRASTRUCTURE BOOSTS APPEAL:
Naples’ proactive infrastructure improvements, like updated stormwater systems, and the prevalence of elevated, hurricane-ready homes reinforce its desirability.
LOOKING AHEAD
Naples’ reputation for luxury living and its #1 ranking as the best place to retire solidify its status as a top-tier market. With inventory nearing balance, pricing adjustments, and steady demand for storm-ready and well-maintained properties, Naples continues to offer opportunities for both buyers and sellers.
Whether you’re buying or selling, navigating this dynamic market requires expertise and strategy. Let’s discuss your goals and make your next move a success!
📞 Margo Fochler | Premier Sotheby’s International Realty
📲 612-327-4221
