If you've been watching the headlines and wondering whether the market is cooling, heating up, or just holding its breath, you're not alone. Here's a quick, honest look at where things stand as we head into August.
The National Picture
Nationally, we're in a rebalancing year rather than anything dramatic. Inventory has loosened to about 4.5 months of supply, existing home sales are roughly flat, and the median price sits around $440,600. Mortgage rates have been holding in the mid-6% range all summer, and forecasters expect them to stay there through year-end. Overall, it's a market asking sellers to be more realistic on pricing, not one that's crashing.
Here in Naples
Locally, it's really a tale of two markets. Single-family homes have held up well, with median prices continuing to climb into the $750,000 to $800,000 range, and buyers still competing for well-priced, move-in-ready properties. Condos have softened more meaningfully, with prices down in the high single digits year over year and inventory that's given buyers real negotiating leverage.
Overall, our area has settled into a healthy, balanced range — around 5 months of supply for single-family homes and closer to 7 for condos. Homes are taking longer to sell, with days on market stretching into the 80s in some segments, and price reductions are common. For sellers, pricing and presentation matter more than ever. For buyers, there's real room to negotiate without the fear of losing out on every showing.
What This Means for You
If you're selling, price to today's market from day one — homes that do are still moving well, while overpricing just adds days on market and forces a reduction later anyway.
If you're buying, you have more selection and leverage than you've had in years, especially with condos. Insurance, HOA financials, and flood zone details deserve extra attention right now, so build that into your process early rather than after you've fallen in love with a place.
Real estate is deeply local, so if you want to talk through what any of this means for your specific situation, I'm always happy to dig into the details with you.
