If you’ve been exploring the condo market in Southwest Florida, you’ve probably noticed an overwhelming number of listings. Fort Myers, Cape Coral, Estero, Bonita Springs, and Naples are all seeing a surge in available units. If you’ve found yourself asking, “why are there so many condos for sale right now—and what does that mean for me as a buyer?”, you’re not alone.

We’ve done the research, and we’re here to help you understand what’s happening, what to watch out for, and what questions to ask before making a move.

TL;DR – Key Takeaways

• Condo inventory is high, which means you have more options, and more negotiating power.
• Some condos come with hidden risks: high fees, looming assessments, or delayed maintenance.
• The market is correcting, not crashing. But today’s buyer needs to be informed.

Condo Inventory Trends in Southwest Florida: What Buyers Need to Know

MLS data shows the number of condos for sale has climbed steadily since 2022. Active condo listings have more than doubled in some areas. Months of supply, a key signal of how long it takes to sell, has risen to 7–10+ months in 2025.

But here’s what’s important for you as a buyer: this is less about a flood of brand-new listings. It’s a build-up. Condos are sitting longer. Sellers are more flexible. You have more time to evaluate, ask questions, and make the right choice.

At Worthington, we’re tracking not just the sales data, but the underlying causes. And they matter.

Why So Many Condos Are for Sale in Fort Myers, Estero, Bonita, and Naples

Safety Law Shakeups

Many buildings are now required to complete major structural inspections and fund expensive reserve accounts, due to new laws passed after the Surfside condo collapse. If you’re looking at a condo built before 1992 (or near the coast), ask:

• Is there a reserve study, and how well is it funded?
• Are there upcoming special assessments you should be aware of?

Our agents are seeing more buyers ask tough questions about reserves and insurance before making an offer. That’s smart…and essential.

Insurance and HOA Costs Are Up

Even in well-maintained buildings, monthly dues have risen. That’s because of sharply rising insurance premiums across Florida.

Before you get too far into the process, ask:

• What’s the current monthly HOA fee, and how much has it changed in the past two years?
• Does it include wind and flood insurance, or do you need to buy your own?
• Has the building had recent claims or dropped coverage?

If you’re new to the area, this hurricane preparedness guide covers what local homeowners—and future buyers—need to know about wind and flood insurance, claims history, and how storm readiness affects property value.

Post-Hurricane Repairs

Some buildings, especially in Fort Myers Beach and Bonita Springs, are still dealing with repair backlogs from Hurricane Ian. Even if a unit looks good, the building as a whole may be facing:

• Delayed roof replacements
• Ongoing litigation with insurance
• Deferred maintenance from underfunded HOAs

It’s worth asking: What repairs are still pending for this building or association?

The Market Shift

During the pandemic, demand surged. Now it’s cooled. Remote workers are returning to offices, and interest rates are higher. That’s created a more cautious buyer, and a more negotiable seller.

For a full breakdown of how we got here, read our 10-year market analysis that explains why this shift was inevitable—and why today’s conditions offer rare opportunities.

How Condo Buyers Can Negotiate in Today’s Southwest Florida Market

Showings are down. Time on market is up. And price per square foot is slipping in many areas. But not every condo is a great deal.

Before you make an offer:

• Look beyond the list price. What’s the monthly cost after HOA and insurance?
• Compare price per square foot with similar units.
• Ask for the latest financials and reserve funding levels from the association.

At Worthington, we’re not just here to open doors, we’re here to open the books and ask the hard questions with you.

Condo prices have stopped climbing and are beginning to soften. Since the 2022 peak, median condo prices have softened in most cities:

• Fort Myers: –6.8%
• Bonita Springs: –6.5%
• Naples: –2.7%
• Estero is the exception, with a slight increase of +0.9%

That said, prices are still up 25–35% compared to 2021. So, while you have more room to negotiate, you’re still stepping into a market that gained significant value in recent years. Leverage comes from understanding where prices have been, and what each building’s true costs look like now.

Here’s something else worth noting: while median condo prices have only dipped slightly since their peak, the price per square foot has dropped more significantly. That means buyers are getting more square footage for the same, or even slightly lower, price. In today’s market, value isn’t just about price, it’s about what you’re actually getting for your money.

Condo Market Breakdown by City: Fort Myers, Cape Coral, Estero, Bonita, Naples

Fort Myers: Post-Ian recovery is still underway in some buildings. Inventory is high, but so are opportunities, if you ask the right questions.

Cape Coral: A mix of older units and new construction means wide variation. Watch out for inconsistent HOA management and fees that don’t reflect upcoming costs.

Estero: Lots of newer developments, but also lots of listings. Newer doesn’t always mean cheaper. Dig into reserve funding even in new communities.

Bonita Springs: High-end condos face pricing pressure. Look for units in buildings with proactive boards and transparent financials.

Naples: Still commanding premium prices, but units are sitting longer. You may not get a “deal,” but you can get clarity and confidence, if you know where to look.

Southwest Florida Condo Buyer Checklist: What to Ask Before You Make an Offer

1. Are there any planned or recent special assessments?
2. How much is in reserves and what’s the funding plan?
3. What’s included in the monthly HOA fee?
4. Are there any pending lawsuits, insurance claims, or big repairs?
5. Are there rental or pet restrictions I should know about?

You don’t need to be an expert. You just need a team that asks these questions with you.

Frequently Asked Questions

1. What’s a reserve study, and why does it matter?
   It’s a financial report that shows how much money the condo association has set aside for future repairs like roof replacements or elevator upgrades. If it’s underfunded, you could be hit with big fees later.
2. How do I compare HOA fees between buildings?
   Don’t just look at the number. Ask what the fee covers (insurance, cable, water?), how often it’s increased, and whether the building has had special assessments in the past.
3. What’s a special assessment?
   It’s a one-time fee charged to owners when the association doesn’t have enough in reserves to cover a big expense. Think of it like an emergency bill for every unit owner.
4. How do I find out if a condo allows rentals or pets?
   Rules vary widely by building. Some limit how often you can rent, how long tenants can stay, or what kind of pets you can have. Always ask for the association’s most recent rules and regulations before making an offer.
5. What happens if the HOA runs out of money?
   If reserves are too low and a big repair comes up, the board can charge a special assessment—or delay the work. That’s why it’s so important to review financials and understand how well the building is budgeting for future expenses.

Final Thoughts

There are a lot of condos on the market for a reason. But some carry more financial risk than others, while others may be smart, strategic buys.

At Worthington Realty, our purpose is simple: to restore trust and respect in real estate by deeply understanding each client’s needs, so that every homeowner feels heard, valued, and confident in their decisions. Learn more about how we do things differently.

If you’re considering buying a condo in Southwest Florida, we’ll help you ask the right questions, understand the full picture, and move forward with clarity.

Let’s talk. Contact us today!