April 2025 Month End Naples Real Estate Market Update

Hello, this is Renee Han, your Naples real estate expert, bringing you the monthly real estate market update. This is for data as of April 2025. Let's hit the high points. Inventory. Overall inventory of homes for sale in the Naples area has been on the rise since 2022. I don't think that's a surprise to anyone. Inventory in April sat at 7,254 homes on the market, and this represented a 34% increase year over year, April 2025 compared to 2024. Months of inventory did decrease a little bit. It's sitting on average at about 11.2 months of inventory. This is the lowest it's been in 2025, but again, remember where we are in the season. New listings, new listings in April decreased 3.1%. So it went from 1,375 listings in April 2024 to 1,333. Not a huge shift, um, so it, it helped the inventory from continuing to grow at such a compounded rate.

Um, pending sales compared to last year, pending sales decreased 10%. So we had 1,000 4 properties that went under contract in the month of April 2025. If you look at 2024, that number was 1,115. However, the 1,004 homes that went pending, it was also lower than the previous month of March, uh, but again, higher than what I would say the last 10 months. Closed sales— overall closed sales decreased 12.3%, so So that's homes that were under contract but closed in the month of April. Um, and so there were 893 closed sales compared to in April of 2024 there was 1,018.

But if you look at compared to March of 2025, that number was 820. So April had 893 closings, March had 820. Again, not too unusual if you look at the seasonal flow. Days on market did increase 20 27% year over year. Let's talk for a minute about appreciation. So according to the Federal Housing Finance Agency, long-term appreciation of homes in the United States historically hits about 4.25% annually. Further data from the National Association of Realtors shows that appreciation increased 18% in 2021, 11% in 2022, But for the first quarter in 2025, homes in the South had a year-over-year price appreciation of only 1.3%. According to, um, the veteran Naples property appraiser Cindy Carroll from Carroll and Carroll Appraisers and Consultants, what she had to say is overall values in Naples have been declining at about 0.5% monthly on a monthly rate currently. But that's not the case with every home. You've got to remember it depends on the condition and the location. So rather than being in an appreciation state, we're in a little bit of a depreciation. Price decreases in the month of April, we had 2,572 price decreases. Now think about that, we had 893 closings, but we had 2,572 price decreases during the month of April. This significant shift in the market indicates that sellers may be a little more willing to lower the prices to meet buyer demand. Again, cause a positive trend where both buyers and sellers can benefit mutually on prices. There are many listings, however, that have been on the market cumulatively for over 200 days. Sellers are trying to get as much equity as possible as they hold onto the ideal that values are still what they were in 2022, and the harsh reality is that's not the case. But the market has changed, you guys. We have over 7,000 properties for sale today, not 2,000 like we had in 2022. So think about that, a 5,000-home differential. If a home has been on the market longer than your average days on market, which right now happens to be sitting at 84 days, then it's likely to sell, uh, unlikely to sell rather, unless the price is reduced enough to attract a buyer in today's market.

And this is tough because it's fluid. We don't know what the bottom number is that's going to get attention. What we know is that there are a reduced number of buyers in the market right now. So you're— if you're trying to attract those one or two that might be looking in your area, it's going to take some real scaling of price. It's not the small incremental price drops. Median close price— it's important for sellers to be mindful of the fact that Naples experienced some unprecedented demand during her COVID, which resulted in property values nearly doubling by the peak of the cycle. Which was reached in the second quarter of 2022. So think about that— by 2022, prices had nearly doubled from before COVID It's a significant metric for sellers to notate when you're thinking about it, is that the median closed price in Naples decreased 10% in April of 2025 compared to April 2024, while the average closed price actually increased. So average increased, median decreased. If you know your math, what that means is you had some really big outliers, and that's not— that is the case rather. Here we had 2 record-breaking sales of multi-million dollar transactions in Port Royal, one at $85 million and one at $225 million. So yes, that's going to make your average look really, really big, but the one to pay attention to is the median because that gives you a more realistic view, and that's when you see that 10% decrease. So that's kind of how the market's behaving.

It's better to have one-on-one discussions these days because candidly, every community is selling different. I just sold 4 houses in Mill Run, for example. Um, there's a, there's a number of them still sitting on the market, but I actually had 4 successful sales and closings in the last couple months. I've got other areas that are sitting a little bit longer. There are parts of the ultra-luxury market that are doing really, really well. Old Naples continues to sit. Beachfront properties in Park Shore continue to sit. Same with Moorings. New development on that strip between Goodlett Frank and 41 are continuing to sit because there was such a surplus in new builds that came out of Lake Park on up to just south of Pine Ridge. So there are certainly pockets where the struggle and the price deterioration are going to be a lot greater than in others where they may have more balance. That's why it's gonna be really important to grab onto a well-qualified, knowledgeable, and experienced realtor to have discussions about your immediate community. I'm happy to be that for you. Renee Han, your Naples real estate expert. I can be reached at 239-287-2576, or you can find me on yournaplesexpert.com. Thanks, and I wanna wish everyone a very happy Memorial Day. Have a good day.