March Real Estate Activity for Naples Florida

The most recent March real estate activity reports revealed a total of 893 properties were sold, amounting to just over $1.1 Billion in sales for the month. Notably, the highest-priced sale was a Port Royal estate that fetched $22,000,000.

Furthermore, there was a significant increase in high-value transactions, with 270 properties being sold at or above $1 Million, a notable rise from the 176 transactions recorded in the previous month.

The overall inventory at the end of the month stood at 5,139 properties for sale, marking a substantial 68 percent increase compared to the same period last year and a 2.7 percent increase from the previous month.

The real estate market in Naples is currently experiencing a steady appreciation in home prices, with a notable 6 percent increase from $612,000 to $649,000 in March 2023. Despite this upward trend, sellers are also making strategic adjustments, resulting in 2,667 price decreases in the same month to stay competitive in the market.

The allure of Naples to affluent homebuyers, combined with comparatively lower luxury home prices in the area and the consistent growth of property values, has boosted sales significantly. This is exemplified by the sale of 32 homes priced at $5 million or higher, indicating a strong demand for upscale properties in the Naples region.

March Real Estate Activity

March 2024 versus March 2023 Highlights

• Closed sales decreased 14 percent compared to March of last year.
• Overall pending sales decreased 6 percent versus the same time in 2023.
• Inventory increased 68 percent up from 3153 homes up to 5,283 homes for sale.
• Average days on market increased 39 percent up to 68 days compared to March of 2023.

In the month of March, a total of 893 properties were sold in the real estate market, consisting of 454 single-family homes and 439 condos. This marked a 14 percent decrease in sales compared to the previous year.

The median price for single-family homes rose to $768,750 from $728,500, while condos saw an increase from $490,000 to $525,000.

Interestingly, the average number of days it took for a property to sell remained relatively stable, with a slight decrease from 69 to 68 days between February and March. However, this figure still falls short of the typical 120 days seen in a robust market.

As the season transitions, it is crucial for sellers to set the right prices, while buyers can benefit from an increased inventory of available properties.

When it comes to navigating the intricate real estate market, whether you are buying or selling, the Naples Golf Guy team is here to assist you. Our team consists of dedicated REALTOR® professionals who possess the knowledge and experience to offer you precise and up-to-date market information.

Feel free to reach out to us via phone, email, or text at 239.370.0892 to fulfill all your real estate requirements.

Top 10 Luxury Naples Golf Home Sales in March

• $9,250,000 – 6897 Grenadier Blvd. Unit 704 in Pelican Bay with 5,280 sq. ft. (95% of list price)
• $7,850,000 – 2713 Buckthorn Way in Grey Oaks with 6,296 sq. ft. (95% of list price)
• $7,550,000 – 6897 Grenadier Blvd. Unit 1502 in Pelican Bay with 4,013 sq. ft. (95% of list price)
• $7,500,000 – 372 Cromwell Ct. in Pelican Bay with 5,804 sq. ft. (84% of list price)
• $6,600,000 – 693 Jamestown Ln. in Pelican Bay with 4,138 sq. ft. (98% of list price)
• $6,190,000 – 2581 Escada Dr. in Tiburon with 6,988 sq. ft. (95% of list price)
• $5,900,000 – 5930 Sunnyslope Dr. in Quail West with 4,892 sq. ft. (100% of list price)
• $5,800,000 – 2562 Escada Ct. in Tiburon with 5,263 sq. ft. (97% of list price)
• $5,500,000 – 7575 Pelican Bay Blvd. Unit 1902 in Pelican Bay with 5,865 sq. ft. (95% of list price)
• $5,500,000 – 16037 Trebbio Way in Mediterra with 5,115 sq. ft. (97% of list price)

New Listings in Golf Communities

So, if you just want to keep an eye on the market, we can set up a custom property search that is fully automated or sign up for automatic property alerts.  Please feel free to call us any time to set up the alerts for you based on your criteria.