November Buyer Activity Has Improved for Two Straight Years as Prices Continue to Ease
The Naples real estate market shows November buyer activity quietly picked up for the second year in a row as we head into the 2026 season. Pending sales are up, closed sales are recovering from last year’s lows, and the numbers suggest the market probably hit its low point in late 2024. Prices are still settling from the January peak. Buyers who waited out the highs now have more room to work with. Sellers who price in line with recent closings are still getting to the table. So why do some neighborhoods still feel stuck? The answer has less to do with demand and more to do with what’s been sitting on the market since spring.
All data comes from the Royal Palm Coast REALTOR® Association and Florida Gulf Coast MLS via Stellar MLS, current as of December 1, 2025. November figures are preliminary and will be finalized mid-December.
Key Takeaways (TL;DR)
- Pending sales are up 31% in two years, improving for the second straight November.
- Closed sales reached their all-time low in November 2024 and are now recovering, up 6.3% to 457 closings.
- Median price has eased from a $675,000 January peak to $560,000, still about 45% above November 2020.
- About 29% of Naples listings are shadow inventory returning for another attempt, and sellers making 5–6% adjustments are the ones reaching the closing table.
Naples Real Estate Market November Buyer Activity
Pending sales have increased for two straight Novembers, climbing from 482 in November 2023 to 577 in 2024 and reaching 632 this November. That is a 31% gain in two years. The broader pattern shows how meaningful that reversal is. November pending sales had fallen each year from 2020 through 2023 before climbing again in 2024 and 2025.
Closed sales add even more context. From 2020 through 2024, November closings declined steadily: 1,129 to 900 to 559 to 519 to 430. This November’s 457 closings mark the first year-over-year improvement in five years.
Naples may not be returning to early 2021 conditions, but buyer activity is steadier than it has been in several seasons.
These Naples trends align with the broader Southwest Florida picture in our December 2025 Southwest Florida Market Update. Buyers have stepped back in as inventory comes down from its spring peak and pricing meets the market.
Shadow Inventory: Why Some Neighborhoods Still Feel Slow
Across Southwest Florida, 45% of listings this year expired, terminated, or withdrew without a sale. Many returned for a second or third attempt.
Naples reflects the same pattern. About 29% of active listings are homes that already tried once.
Across Southwest Florida, each market is working through some level of returning inventory. Naples is not an outlier. The table below shows how the five major cities compare.
Market Comparison Table (November 2025)
Active listings, year-over-year demand, and the share of returning inventory.
| City | Active Listings | YoY Closed Sales | YoY Pending Sales | % Returning Inventory | Avg Price Adjustment |
| Fort Myers | 3,300 | +11.3% | +13.7% | 30% | –6.1% |
| Cape Coral | 2,986 | +5.7% | +22.4% | 24% | –6.0% |
| Estero | 734 | +30.6% | +24.4% | 27% | –6.5% |
| Bonita Springs | 1,137 | +28.0% | +3.1% | 32% | –4.3% |
| Naples | 5,486 | +6.3% | +9.5% | 29% | –5.6% |
These older listings can make neighborhoods feel slow even as buyer activity improves.
Fresh listings that reflect today’s market are the ones moving. Returning listings that held firm to previous pricing strategies are usually still waiting.
Pricing Adjustments That Are Working in Naples
Most listings returning to the Naples real estate market adjusted lower by about 5.6%. Across Southwest Florida, nearly half of returning listings reduced pricing by 2–10%, and another quarter reduced more than 10%. These sellers are the ones reaching the closing table.
The 5% gap between list and sale price shows up in Naples as well. Sellers received about 95% of their last list price in November, which aligns with what we are seeing community by community.
The practical approach remains the same. Pull the last five comparable sales within a half-mile. If you are within 5% of those numbers, you are positioned well. If you are more than 10% above them, the odds of success fall quickly.
Luxury properties tend to make smaller adjustments, often around 3%, and require longer timelines. Mid-range single-family homes and well-located condos priced near recent comps continue to see the strongest movement.
Neighborhood Snapshots: How Six Naples Communities Are Moving Right Now
Based on properties that either sold or came off market between January and November 2025, here is how Worthington Realty’s featured Naples communities performed. The pattern is consistent across all of them: sellers who priced within range of recent comparable sales found buyers. Those who did not are still waiting or have cycled off the market.
The Vineyards
The Vineyards has 90 active listings with a median asking price of $725,000 at $346 per square foot. November’s 9 sales reached a median 95% of list price, and the homes that moved quickly sold in about 32 days. Ten properties are currently under contract at around $720,000 after a median of 29 days. About 25% of active inventory previously expired or terminated, and roughly 65% of those sellers returned with pricing about 10% lower. Even so, 47% of today’s active inventory has been on the market more than 90 days while successful sales are closing in about a month. The Vineyards posted a 68% success rate, one of the strongest among these six communities.
Pelican Bay
Pelican Bay has 199 active listings with a median asking price of $1,600,000 at $789 per square foot. Eighteen November closings reached a median 92% of list, and the quickest sales went under contract in about 16 days. About 30% of active inventory is back after a previous attempt, and the sellers who reduced pricing by about 8% are averaging 53 days on market. Forty-two percent of active listings have passed the 90-day mark, while the 34 pending homes reached contract in a median of 66 days. Pelican Bay finished with a 61% success rate as adjusted luxury listings continued to find buyers.
Lely Resort
Lely Resort has 139 active listings with a median asking price of $550,000 at $336 per square foot. Nineteen sales closed in November at 95% of list price, with the fastest sales moving in about 20 days. This community shows a clear pricing reset. Forty percent of current active listings previously expired or terminated, and 70% of those came back with pricing roughly 8% lower. These sellers are averaging 61 days on market. Forty-seven percent of active inventory is past 90 days, while the 24 homes under contract reached a median 46 days at $705,000. Lely Resort recorded a 53% success rate, with many sellers on their second attempt.
Isles of Collier Preserve
The Isles of Collier Preserve has 58 active listings with a median asking price of $1,470,000 at $600 per square foot. November saw 3 closings at 98% of list price in about 30 days. Thirteen pending properties went under contract in a median of 32 days at around $795,000. About 36% of active listings are returning for another attempt, and those sellers adjusted by roughly 6%. Sixty-nine percent of active inventory is under 90 days, and buyers remain most active under $1,000,000. Isles of Collier Preserve posted a 58% success rate.
Grey Oaks
Grey Oaks has 12 active listings with a median asking price of $5,200,000 at $1,198 per square foot. Two homes closed in November, and another 7 are pending, which is strong activity for a boutique luxury market. One well-positioned listing sold in just 8 days. Previous unsuccessful listings averaged $1,331 per square foot, while today’s active inventory averages $1,198, an 11% correction. The 7 pending homes reached a median of 154 days at about $6,150,000. Grey Oaks finished with an 80% success rate, the highest of the six communities.
Esplanade
Esplanade has 32 active listings with a median asking price of $793,450 at $418 per square foot. Five homes closed in November at 97% of list price in about 25 days, with the fastest sales moving in around 15 days. Only 16% of active inventory is returning after a previous attempt, the lowest relist rate among these communities. Previous listings asked a median $959,000, while today’s active inventory sits at $793,450. Seventy-five percent of active listings are under 90 days, giving Esplanade the cleanest inventory profile in this group. The community recorded a 68% success rate.
Naples Home Prices: Down From the Peak, With Important Context
Median price in Naples reached its high point at $675,000 in January 2025 and has eased since. November closed at $560,000. That is a 17% decline from the peak and the third straight November of softening: $590,000 in November 2023, $587,500 in November 2024, and $560,000 today.
The five-year view adds useful context. November 2025 is still about $175,000 higher than November 2020, which was roughly $385,000. That is an increase of about 45% for owners who held through the run-up.
Price per square foot peaked earlier at $371 in December 2023 and has declined to $330. That is still well above the November 2020 level of $217. The earlier softening in price per square foot suggests the upper end of the market adjusted first, with the broader market following.
Inventory: Elevated and Starting to Stabilize
Naples inventory peaked at 7,461 homes in March 2025. Since then, it has stepped down to 5,486 active listings in November.
The November-to-November comparison shows how the market has changed. November 2021 had 1,247 homes available. November 2023 reached 3,932. November 2024 hit 5,459. This November’s 5,486 is essentially flat year over year. It is the first time November inventory has not climbed sharply since the boom ended.
Buyers still have far more choices than they did from 2020 through 2022, but the rapid inventory growth has started to level off.
Days on Market: Patience Required
Homes are taking longer to sell than at any point since 2020. November’s median of 68 days is the highest November figure in the dataset.
For comparison:
- 2020: 35 days
- 2021: 8 days
- 2022: 27 days
- 2023: 30 days
- 2024: 55 days
Days on market peaked at 87 in August before improving to 68 in November. Even for well-priced homes, sellers should expect a marketing period of more than two months.
Months of Supply: A Buyer’s Market With Slight Improvement
Naples sits at 8.3 months of supply. A balanced market typically runs 4–6 months. Anything above 6 favors buyers.
Months of supply reached 12 months in March 2025. It improved through the year to 7.6 in September and finished November at 8.3. Last November was 8.6. This year shows small but real improvement.
What Naples Homeowners Are Asking
About 29% of Naples listings are returning for another attempt, and those older listings tend to sit much longer. They create the impression that nothing is happening even as new, well-priced homes go under contract. The activity is there. It is just concentrated in listings that reflect today’s prices, not last spring’s.
The data says no. Most returning listings that kept their original price are still waiting. Sellers who adjusted by 5–6% are the ones reaching the closing table. If you were more than 10% above the most recent closings in your community, the market already showed you the gap.
Pull the last five comparable closings within a half-mile or inside your community gates. Match for size, updates, and lot type. If you’re within about 5% of those numbers, you’re positioned well. If you’re 10% or more above them, buyers will move on to the next listing.
Buyers have more choices and more negotiating room than they’ve had in years. You can compare neighborhoods, take your time, and make data-backed offers. Rising pending sales suggest other buyers are already stepping in. Homes making their second attempt with a meaningful reduction often signal motivated sellers.
This year’s improvement is real. November 2024 was the lowest November in nearly six years. November 2025 marked the first year-over-year increase since 2020. The market is not back to 2021 levels, but the trend is moving in the right direction.
Final Thoughts
November buyer activity across the Naples real estate market has improved for two straight years, prices have eased from the January peak, and neighborhoods with accurate pricing are seeing steady movement even as older listings create the sense of a slower market. Inventory is still higher than it was a few years ago, but its year-over-year growth has leveled off, and the rise in pending and closed sales shows that buyers are paying attention again as we head into 2026.
If you want to see how these trends fit your home or neighborhood, you can search Naples homes for sale, explore community-level data, or contact our team to walk through the numbers together.
Most homeowners feel overwhelmed when it is time to move. At Worthington Realty, we provide personalized guidance and clear communication so you feel heard, valued, and confident in your decisions.
Sources & Methodology: All data in this report comes directly from the Royal Palm Coast REALTOR® Association, Florida Gulf Coast MLS, and Stellar MLS, combined with multi-year InfoSparks trend analysis and a full address-level review of every active, closed, expired, and returning listing in Naples from January through November 2025. Citywide metrics such as prices, pending sales, closed sales, days on market, months supply, and inventory are based on finalized MLS trend data. Community-level insights, including shadow inventory rates, price adjustments, negotiation patterns, and success rates, come from matching individual properties across multiple listing attempts to track how pricing and time on market influenced outcomes. This blended approach gives a clear, evidence-based view of how the Naples real estate market is actually moving as we head into the 2026 season.
