Naples is one of the fastest growing luxury markets in the U.S.

Another quarter has come and gone, and the real estate market in Naples shows no signs of slowing down. According to the report from the Naples Area Board of REALTORS® (NABOR), overall closed sales rose 2 percent compared to last year’s second quarter, from 2,880 to 2,926. However, luxury homes are selling at an astounding pace.

The report shows that the closed sales for single-family homes in Collier County priced at $2 million or more increased by a whopping 25 percent compared to last year. The number of closed sales for these houses increased by 8 percent (from 162 to 175), and the median closed price went up 4 percent, from $3,087,000 to $3,200,000.

According to, these numbers make Collier County number 2 on the list of the top 10 fastest growing luxury markets in the nation. Only Sarasota County has had a bigger increase. The luxury sale price (defined as the top 5 percent of sales) is now at $1.674 million in Naples, which is an increase of almost 16 percent compared to 2017.

Both condo buyers and sellers are benefiting

Interest in condos in Collier County is also very high. While inventory rose 15 percent for condos priced at $2 million and above, pending sales went up 32 percent over the last year. This is great news for sellers, but buyers are also benefiting. The median closed sale price for a condo in the second quarter was $270,000, which was a drop of 4 percent from June 2017.

North Naples is the place to be

For a while now, North Naples has been experiencing a lot of growth, and the housing market numbers show this. In the second quarter of 2017, there were 790 closed sales. This went up 6 percent to 838 this year. There was also a 5 percent increase in median closing price – from $380,000 to $400,000. The average days a home in North Naples was on the market in this year’s second quarter dropped from 100 to 96, a decline of 4 percent. The inventory also went down 4 percent, from 1,483 to 1,431.

Naples real estate at a glance

Here are some of the highlights of the NABOR report (2nd quarter of 2018 compared to the 2nd quarter of 2017):

  • Overall inventory: 5,165 – Down less than 1 percent
  • Overall pending sales: 2,733 – Down 1 percent
  • Average days a home stayed on the market: 96 – Down 1 percent
  • Overall closed sales: 2,926 – Up 2 percent
  • Single-family homes: 1,395 – Up 3 percent
  • Condos: 1,531 – No change
  • Median closed price: $345,000 – Up 1 percent

The Naples housing market is hot, and it’s only getting hotter, which makes now a good time to get into it. If you’re a seller, you should look to cash in by getting top dollar for your home. If you are a buyer, with thousands of houses and condos available all over Collier County, you have an excellent opportunity to find your perfect home in a great neighborhood. Whichever situation you are in, Dante DiSabato will work with you to get the best deal. Get in touch by phone at 239-537-5351 or through this online contact form.

This material is based upon information which we consider reliable, but because it has been supplied by third parties, we cannot represent that it is accurate or complete, and it should not be relied upon as such. These offerings are subject to errors, omissions, prior sales, changes, including but not restricted to, price or withdrawal without notice. A buyer should be represented by legal counsel and have a professional inspection and a survey of the property certified to the buyer to verify information contained herein and all other information upon which a buyer may intend to rely. William Raveis Real Estate.