2024 NABOR Annual Real Estate Market Report

The Naples Area Board of REALTORS® (NABOR) has released its Naples annual report 2024 annual market report, providing key insights into the region’s real estate trends. The data highlights shifts in home prices, inventory levels, and sales activity, helping buyers and sellers understand the market’s performance throughout the year.

Market Overview

The Naples housing market experienced fluctuations in 2024, influenced by interest rate changes and increased inventory levels. While sales declined compared to 2023, home prices remained stable or saw moderate growth in many segments.

• Total Sales: 7,996 homes were sold in 2024, marking a 10.0% decrease from the previous year.
• Median Sales Price: The overall median price increased 1.7% to $610,000.
• Inventory Growth: Active listings rose by 35.7%, ending the year with 5,695 homes available.
• New Listings: Increased 15.7%, reaching 15,459 new properties on the market.
• Percentage of List Price Received: Sellers received an average of 95.4% of their original list price, down 0.8% from last year.

SALES AND PRICING BY PROPERTY TYPE

• Single-Family Homes: Prices increased 2.0%, while sales declined.
• Townhomes & Condos: Prices remained unchanged from the previous year.

SALES BY PRICE RANGE

• $300,001 to $500,000: Sales fell 17.3% to 2,089 homes.
• $5,000,001 and Above: Sales rose 13.4% to 211 homes.

SALES BY BEDROOM COUNT

• 2 Bedrooms or Less: Sales decreased 11.5%.
• 3 Bedrooms: Homes in this category received the highest percentage of original list price at 95.8%.
• 4 Bedrooms or More: Sales declined 9.2%.

The year started strong with rising inventory and lower mortgage rates, bringing more buyers into the market. However, as rates climbed above 7% in the spring, demand softened. By summer, inventory levels reached their highest point since 2020, but prices remained elevated due to ongoing demand. The Federal Reserve’s decision to cut interest rates in late 2024 helped boost activity in the fourth quarter, with home sales rebounding in October and November.

Looking ahead to 2025, economists anticipate a more active market, with existing-home sales expected to rise. Mortgage rates will likely remain in the 6% – 7% range, influencing buyer behavior. Meanwhile, inventory levels should continue improving as new home construction accelerates.

The Naples housing market remains dynamic, and staying informed about these trends is crucial for making strategic real estate decisions. For a more detailed breakdown, access the full NABOR report or reach out for expert guidance on buying or selling in the city of Naples.

The Naples Area Board of REALTORS® provides regular updates on Naples’ real estate market, offering detailed reports on home sales, pricing trends, and local market conditions. These reports feature in-depth analysis, graphs, and statistics for both single-family homes and condos, as well as zip code-specific insights.

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To work with a top Naples real estate expert, contact Matt Brown at (239) 580-8864  or fill out the Let’s Connect form.

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