The Naples, FL metro area housing market in February 2025 presents a complex landscape with varying trends across different metrics. The Median Sales Price has seen a modest increase, while other indicators suggest a cooling market.

The Median Sales Price in Naples stands at $710,000, reflecting a year-over-year increase of 1.5%. This upward trend in sales price contrasts with the Median List Price, which has decreased by 5.7% to $725,000. This divergence indicates potential buyer resistance to higher asking prices, leading sellers to adjust their expectations.

Price Per Square Foot metrics further illustrate this trend. The median Price Per Square Foot is $368.02, down 3.7% from the previous year, while the Median List Price per square foot has seen a slight increase of 0.2% to $414.00. This suggests that while sellers are attempting to maintain higher list prices, actual sales are occurring at lower price points.

Sales activity has slowed, with 649 Homes Sold, marking a 10.5% decline year-over-year. Pending Sales have also decreased significantly by 15.1%, totaling 948. New Listings have remained relatively stable, with a slight decrease of 0.4% to 1,782. However, inventory has surged by 30.5% to 7,340 homes, contributing to an increase in the Months of Supply, which has risen dramatically by 350% to 11.3 months. This indicates a shift towards a buyer's market, with more options available and less urgency to purchase quickly.

The Median Days on Market have increased by 8% to 72 days, suggesting that homes are taking longer to sell. The average sale to list ratio has decreased by 1.2% to 94.6%, indicating that homes are selling for less than their asking prices. Additionally, the percentage of Homes Sold above list price has dropped by 1.9% to 3.1%, further emphasizing the cooling market conditions.

Price Drops have become more common, with 39.7% of listings experiencing reductions, up 3.7% from last year. The percentage of homes going off the market within two weeks has decreased by 4.1% to 18.6%, reflecting a slower pace of transactions.

Overall, the Naples housing market in February 2025 is characterized by a slight increase in sales prices amidst a backdrop of declining sales activity and increased inventory. Buyers have more leverage with the growing supply, while sellers are adjusting their strategies to align with market realities.