Naples, FL

Naples

Naples is amongst the premier markets in Florida with average sales prices of $26.7M—only outdone by Palm Beach. Prices peaked locally in 2022, in line with a general surge in 2021 and 2022 in the rest of Florida. 2024 prices aren’t quite at the 2022 peak levels ($31.8M average sales price), but most of that difference is explained by a single $62M transaction in 2022 that inflated the average. Overall, Naples continues to see exceptional property value appreciation. Highlights

1. Average sales prices are up 90% since 2015

2. In 2024, DOM tripled to 360 days

3. Sales values average 17% discount to listing price

The premier destination on Florida’s west coast Ten years ago, Naples average sales prices were around $14M and roughly—on par with other Florida luxury markets. Since 2015, however, Naples has seen explosive growth. Prices are now 90% above 2015 levels and 33% above Florida averages. As a result, Naples has established itself as the premier luxury market on the Florida west coast. 

In the past 5 years, sales cycles consistently shortened and Naples properties were known for selling quickly. This trend has now reversed: 2024 sees average Days On Market (DOM) triple to 360 days, compared to 119 days in 2023. Along with longer sales cycles, sellers also have to accept somewhat higher discounts compared to their listing prices.