Naples and Grey Oaks Real Estate Update (March 2025)

Naples Market Update

In a nutshell…it’s a buyer’s market. Overall inventory has continued to climb for the past 36 months, with a 36.1 percent inventory increase to 7,483 properties in comparison to March 2024 of 5,500 properties (condominium inventory increased 42.8 percent from March 2024.) March saw 1,617 new listing added to the market (5.1 percent increase from March 2024) and for buyers, that meant more choices, which has led to a seemingly “no urgency mentality.”  Overall closed sales decreased 9.3 percent from March 2024.

The March 2025 overall median closed price increased 0.1 percent to $650,000 from March 2024. A very interesting note is that median price in March 2020 was $372,750.  Values have dramatically changed in five years. Basically, if you bought a home before the pandemic, you are in a great position if you decide to sell. Sold median prices vary significantly, depending on location and community, and it is important to use a real estate professional that truly knows your area or community, when it comes to buying or selling.

In the condominium market, median closed price in March 2025 decreased 7.1 percent to $486,000, and average closed condo price decreased 8.9 percent to $916,157, while the single-family average price increased 9.9 percent to $1,638,001.  Mandatory milestone inspections on most condominiums have been completed and according to analysts, Naples condos are not facing the same challenges as the east coast of Florida, where many of the condominiums built before 1992, were not adequately funded in their resources for possible structural repairs.  It is still important to note that the cost of living in an older condominium may increase yet, as associations may increase their reserves for insurance increases and repair reserves.  In March 2025, there was a 9.0 percent increase in new condo listings, and overall condo inventory increased 42.8 percent from March 2024.

Prices are beginning to reflect the added 36.1 percent inventory increase, and sellers are becoming more competitive for buyers, with 3,305 price decreases reported in March – the highest on record.  (February had 2,883 price reductions and January had 2,668 price reductions.)  As more inventory is available to buyers, they are taking more time in making buying decisions. Basically, if there have not been many showing requests, it probably means the residence is priced too high.  According to analysts, some areas have been seeing declining values for homes purchased in 2022, especially in areas where the spec home market has produced an oversupply of home for sale, like Lake Park, Aqualane Shores, Old Naples, as a few of those areas.

The market is correcting itself and prices are not appreciating at the rates they have been in the past, and the sales have slowed due to current economic uncertainty, stock market fluctuations, sellers still holding tight to aspirational prices, and an overall lack of urgency from buyers. We are currently at 11.4 overall months’ supply, with 86 average days on market, and a 94.7 percent list price received. Compared to March 2024, there was an overall 7.7 months’ supply of inventory, 68 average days on the market, and 95.7 percent list price received.  It is very interesting to compare with March 2020, as Covid became a part of life, there was a 6.4 months’ supply, 98 average days on the market, and 95.8 percent price received.  Back in March 2020, the overall median sold price was $372,750 and average sold price was $719,393.

The appeal of Naples will always be there to the affluent home buyer, with all that Naples has to offer, but the market certainly has changed over the last year. Naples will always have that appeal and your dream home awaits you…so now’s the time to find it!

Grey Oaks Real Estate For Sale

Grey Oaks, with 909 doors, does not have that large of an inventory that one reads about constantly, with 20 listings at end of day Friday, and only 11 residences offered under $7 million. There are some great finds in Grey Oaks! Of the twenty listings, eleven have immediate Golf Membership available, so those 99 people on the waitlist should take a look at some of these beautiful residences.

With our incredible location in town and our sought-after amenities, Grey Oaks stands out even in the level of lower listings, percentage-wise, to other country club communities. In Grey Oaks, there are currently 20 residences for sale, ranging from a $1.799 million to $16.5 million. There were six residences that went under contract or went pending in the last 120 days, and 17 have closed in the last 120 days, ranging from $2,195,000 to $9,795,000. I was involved with three of those transactions.

The average days on the market in Grey Oaks, with the 17 closed transactions in the last 120 days, was 69 days, with three residences going under contract within five days. The overall average sold price was $4,944,941.  Of the 17 closed transactions, there was a 92 percent list price received. The percent of list price received increases to 95.5 percent, when one uses data from either fully or mostly remodeled listings. A few more interesting facts about our home values in Grey Oaks: in March 2020, there had been 24 residences sold in the 120 days prior to March 25, 2020, with the average sold price was $2,368,798 with average 254 days on market, and 88.3 percent original list price received.

With our fabulous, central location in Naples, and all the incredible amenities that Grey Oaks has to offer, this community continues to be very desirable, evidenced by just under 100 Members on the Golf Membership waitlist. While this is very fluid and difficult to verify an exact wait time, the Club is currently anticipating a 2-year wait for resident Members currently on the waitlist.  The overall age in Grey Oaks also keeps decreasing, with recent Sports and Golf Membership age around 62.  I hosted a “Mom’s Night Out” cocktail and appetizer evening last year during Season, and the ages were from low 30’s to mid 40’s, and I know of at least three more younger families that have moved into Grey Oaks since then. This Club is continuously becoming a vibrant, younger, health-driven, exercise-filled and amazing community to be a part of.  I can personally attest that when we moved into Grey Oaks over twenty years ago with four children under the age of eight, the average age was NOT 62, so my husband and I have truly seen the incredible evolution of what this great Club has gone through.  It’s a great place to call home!

The appeal of Naples will always be there to the affluent home buyer, with all that Naples has to offer, including weather, beaches, a dynamic restaurant scene, theater, shopping, and a lifestyle that is hard to beat! The remarkable high-end properties under construction that include the Four Seasons, Naples Beach Residences, Rosewood Residences, Ritz Carlton Residences, Olana Naples Residences, among others, will make Naples even more of a destination resort town now and in the future!