One of the things I always find interesting about real estate market analysis is that statistics and real-time

experience do not always tell the exact same story.

The numbers we review each month reflect what actually closed and completed during the prior month, which gives us a more accurate and complete view of market performance. But while we are reviewing those finalized results, we are also actively living in today’s market—and sometimes those two perspectives can feel surprisingly different.

This month is a great example.

April was a standout month in Naples real estate. Activity remained stronger than many expected for this stage of the season, contracts continued moving, buyers stayed engaged, and overall demand held up extremely well. Even the beginning of May continued to feel active and encouraging. Yet as May progressed, the pace slowed noticeably later in the month.

That contrast is always a good reminder that market reports help explain where we have been, but they do not necessarily predict exactly where the market is headed next.

Looking back specifically at April, the Naples market delivered stronger-than-expected performance with increased sales activity, higher pricing, and reduced inventory levels compared to one year ago.

Executive Summary: April Delivered Stronger Than Expected Results

April delivered a meaningful surprise to the Naples market.

Despite entering what many would expect to be the beginning of seasonal cooling, Naples posted:

• Closed sales increased 18.1%

• Pending sales increased 38.2%

• Median closed price increased 7.7%

• Inventory declined 21.0%

• Days on market increased 15.5%

At first glance, some of these numbers may seem contradictory. How can homes take longer to sell while inventory drops and sales rise? The answer appears to be that buyers are still active - but they are more selective. Properties that are positioned well continue to transact. Buyers remain willing to pay for value and lifestyle. But the market is demanding better pricing, better presentation, and stronger alignment with buyer expectations than we saw in earlier years.

Demand Surprised to the Upside

Perhaps the biggest headline this month was pending sales.

Overall pending sales jumped from 1,004 homes under contract to 1,388, representing an impressive 38.2% increase year over year.

Closed sales followed that strength:

• 904 closed transactions → 1,068 closed transactions (+18.1%)

• Year-to-date closed sales are up 18.7%

That is not what many expected heading into April.

This tells us buyers are still very engaged with Naples real estate despite:

• Elevated borrowing costs

• Higher carrying costs

• Insurance concerns

• Condo reserve requirements

• Increased consumer caution

The Naples lifestyle continues to prove remarkably resilient.

Inventory Tightened Again - But Context Matters

Inventory dropped meaningfully.

April closed with:

• 5,919 active listings

• Down from 7,492 active listings last year

• Representing a 21% reduction in inventory

Months of supply also improved significantly:

• 11.5 months → 8.1 months

• Nearly a 30% reduction in supply levels

That said - this does not mean inventory is tight everywhere. We continue to see different stories depending on location, price point, and property type.

Inventory compression was strongest across many middle and upper price categories:

• $500K–$1.5M inventory: down 24.3%

• $1.5M–$5M inventory: down 24.5%

• $5M+ inventory: down 20.6%

Meanwhile, inventory for condominiums below $300,000 actually increased modestly. This reinforces something I have spoken about often - Naples is increasingly becoming a collection of micro-markets rather than one uniform market.

Pricing Continued Moving Higher

The overall median closed price increased:

$585,000 → $630,000 (+7.7%)

That is meaningful appreciation. But averages and medians tell different stories.

Average closed price actually declined:

• $1.39M → $1.22M (-12.1%)

That suggests luxury remained active, but a larger portion of transaction activity occurred in lower and mid-price categories compared to prior periods.

By price segment:

• Under $300K sales increased 42.8%

• $300K–$500K sales increased 10.6%

• $500K–$1.5M sales increased 5.2%

• $1.5M–$5M sales increased 18.5%

• $5M+ sales increased 5.5%

This is a healthy sign because activity was broad-based rather than isolated to one category.

Single Family Homes Continued Leading

Single-family homes had a particularly strong month.

Key metrics:

• Closed sales: +15.5%

• Pending sales: +28.4%

• Median closed price: $745K → $850K (+14.1%)

• Inventory: down 21.8%

• Months of supply: 10.5 → 7.3

This continues a trend we have seen repeatedly.

Buyers remain willing to pay a premium for:

• Privacy

• Outdoor living

• More predictable ownership costs

• Reduced association complexity

Even though inventory remains healthier than the ultra-competitive years, strong single-family homes continue attracting buyers.

Condominiums May Be Turning a Corner

One of the more interesting stories this month came from the condominium market.

Condo metrics showed:

• Closed sales increased 20.5%

• Pending sales increased 51.4%

• Inventory decreased 20.3%

• Median closed price declined 8.0% to $450,900

That combination tells an important story. Transaction volume accelerated while pricing softened. That often suggests buyers are finding opportunities and becoming increasingly comfortable navigating reserve studies, structural requirements, assessments, and understanding total ownership costs upfront.

Another notable point:

There were 575 condominium closings compared to 493 single-family closings during April. That is not something we have consistently seen in recent periods.

Additionally:

• Naples recorded 1,083 condominium sales below $300K

• Compared to just 192 single-family sales below $300K

Affordability remains one of the condo market’s strongest advantages.

Sellers Are Negotiating - But Not Giving Away Homes

One metric I always watch closely is percent of list price received.

April came in at:

94.6% of asking price overall

That means sellers are still achieving roughly 95 cents on every asking dollar.

This tells us:

• Buyers are negotiating

• Pricing discipline matters

• Correctly positioned homes are still performing

Now you have to remember this metric reported by NABOR is based on the list price at the time of going under contract so with the frequency of price drops during some homes list life, it misses showing those price adjustments that were already made before the point of offer. Interestingly, fewer than 30% of homes initiated a price reduction during April, suggesting sellers are becoming more realistic about today’s market conditions.

Homes Are Taking Longer - But This Is Not a Frozen Market

Days on market increased:

84 days → 97 days (+15.5%)

That sounds dramatic until you zoom out. A three-month marketing timeline remains historically normal. This is not a stalled market.

It is simply a market that rewards:

• Strategic pricing

• Strong presentation

• Professional marketing

• Patience

Gone are the days where almost everything sold immediately regardless of preparation. Today’s buyers are thoughtful.

Geographic Standouts

A few areas stood out this month:

Central Naples

• Median price increased 4.4%

• Inventory declined 32.6%

East Naples

• Median price increased 4.7%

• Closed sales increased 12.0%

Collier County Overall

• Median price increased 8.3%

• Sales increased 17.3%

These trends continue supporting something many of us are seeing locally—buyers are balancing lifestyle, location, and affordability while searching for value.

My Take Going Into Summer

If April taught us anything, it is that predictions should always be held loosely. Many expected a more significant seasonal slowdown.

Instead:

• Contracts surged

• Inventory tightened

• Prices increased

• Buyers stayed active

At the same time, living through May reminds us how quickly conditions can shift,especially in with our traditional seasonal market shifts. While April, and even early May, felt exceptionally active, the later part of May has slowed considerably.

That is exactly why market reports are so interesting. They tell us where we have been- but not always where we are going. My expectation is that we continue into a more selective summer market—not necessarily a weak market. Well-prepared, move-in-ready, appropriately priced homes should continue to perform. Homes chasing yesterday’s pricing expectations may continue to sit.

As always, statistics tell the story of the market overall - but every neighborhood, every price point, and every property tells its own story. If you would like help understanding what these trends mean for your home, your community, or your buying goals, I would love to help.

Renee HahnYour Naples Real Estate Expert

Ranked in the Top 0.05% in the Nation

📍 Naples, Florida

📞 (239) 287-2576

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