Regional Overview: A Stabilizing Southwest Florida Market
September 2025 data indicate that the Southwest Florida housing market is continuing to stabilize. Across the region (Lee, Collier, and Hendry counties), closed sales surged year-over-year while inventory growth slowed, signaling a market inching toward balance. Single-family home sales jumped +12.4% in September compared to a year ago, and condominium sales were up +13.8% year-over-year. This marked the fifth consecutive month of declining active inventory regionwide—a notable shift after the sharp inventory buildup of 2022–2024. Fewer new listings combined with steady sales have begun to tighten supply, giving the market a more balanced feel than the buyer-favored conditions seen over the past year.
Despite the pickup in sales volume, prices regionally remain near flat. The median single-family sale price in SWFL was about $420,000, a +1.2% uptick from September 2024. Condo prices saw a slight decline—the regional median condo price fell −4.1% year-over-year to roughly $350,000. These mild price movements suggest that after the explosive appreciation of 2021–2022, values are holding steady or adjusting slightly in 2023–2025. Importantly, prices are still far above pre-pandemic levels—single-family medians are roughly +37% higher than in September 2019, and condos about +25% higher, reflecting lasting equity gains.
The pace of the market has cooled from the frenzy of 2021. Homes are taking longer to sell than a year ago: the median days on market in September rose to 64 days for single-family (up from 51) and 99 days for condos (up from 80). Most properties now spend two to three months on the market before going under contract, whereas during the 2021 boom many homes sold in mere days. Buyers today have more breathing room to shop and compare options, and they’re negotiating harder—the average percent of list price received sits around 93–96%, slightly below the near-100% peaks of the frenzy. All of this points to a more disciplined, buyer-savvy market than the “buy at any price” environment of two years ago.
Perhaps the most striking shift since 2021 is in housing supply. In the second half of 2021, inventory was incredibly scarce—months of supply often under two months in many parts of SWFL. By contrast, as of September 2025 the region has six to ten months of supply, depending on area and property type, which is 500–740% higher than in 2021. Total active listings across SWFL stood around 13,200 at the end of August, versus just a few thousand in late 2021. This steep rise in inventory firmly shifted the market in favor of buyers by 2023. However, 2025 has brought a turning point: inventory levels peaked in winter 2024/25 and have since edged down or stabilized as fewer new listings hit the market and the elevated sales pace began to eat into the backlog. Months’ supply in Southwest Florida is now about 7.4 months overall (down from over 10 months at the start of 2023). This falls within the six-to-twelve-month range of a balanced market, suggesting we are transitioning out of a pure buyer’s market into more neutral territory.
Market conditions still vary by area and price point. Higher-end markets have retained more of a buyer’s market character, whereas some mid-range markets are nearing balance. In the following sections, we break down the latest stats and trends for Bonita Springs, Estero, Naples, and Fort Myers, highlighting how each locale is faring as of September 2025. The theme for this fall is a market in transition—still offering ample choice for buyers and requiring strategic pricing for sellers, but generally more stable and predictable than the roller-coaster of the past few years.
Bonita Springs: Sales Surge as Inventory Tightens
Bonita Springs stood out in September with robust sales activity and a notable tightening of supply. Closed sales in Bonita jumped by over 30% compared to September 2024—one of the largest spikes in the region. This surge in buyer activity has meaningfully whittled down the months of inventory. The area now has about 7.9 months’ supply, down 37.7% from roughly 12.7 months a year ago. In other words, what had been nearly a year’s worth of inventory on the market in late 2024 has shrunk to about eight months’ worth as of this September. That is still slightly above a balanced level, meaning buyers hold a mild advantage, but it’s a far cry from the extreme glut of listings we saw last year. In fact, Bonita’s supply is down significantly for the first time in years, even as it remains over 410% higher than the rock-bottom supply of 2021.
Homes in Bonita Springs are also moving a bit faster than in other SWFL markets. The median time on market for Bonita listings in September was around 71 days—the shortest median DOM among the area sub-markets. This suggests properly-priced homes in Bonita are finding buyers relatively quicker, thanks to the upswing in demand. Back in 2021, many Bonita Springs homes sold in two to three weeks, so today’s timeline is still slow by those standards; but compared to the three-plus months typical in 2023, the market has certainly picked up pace.
Meanwhile, prices in Bonita Springs have stayed resilient. The median sale price in September was about $550,000, a +3.9% increase from a year prior. Bonita is one of the few SWFL areas seeing year-over-year price appreciation in 2025 rather than declines. It’s worth noting that Bonita’s median price had plateaued in 2023 (roughly $527K) and 2024 (~$529K), so this year’s gain suggests renewed upward pressure perhaps due to the burst of sales. On a longer horizon, Bonita Springs’ median price is still +46.5% higher than in September 2021, reflecting the substantial equity growth local homeowners accrued through the pandemic market. Many sellers, however, have had to adjust expectations from last year’s peak; the average price received versus list is around 95%, meaning some price negotiation is happening.
Inventory levels in Bonita Springs, while improved, remain relatively high historically. There were roughly 950–1,000 active listings in Bonita in recent months. For context, at the height of the 2021 frenzy, there were often fewer than 200 homes on the market. By late 2022, active listings had swelled into the many hundreds. The fact that inventory is now contracting year-over-year indicates that demand is finally outpacing new supply. Well-maintained homes priced to market are attracting strong interest and even, in some cases, multiple offers again. Overpriced listings, on the other hand, can still linger over 90 days and eventually face price cuts. It’s a tale of two scenarios—pricing and condition are key. Overall, Bonita Springs appears to be shifting toward a balanced market faster than some neighboring areas, thanks to this year’s sales momentum and slight inventory pullback.
Bonita Springs Key Stats (Sept 2025) – Closed Sales: ~130 units (+30% YoY). Median Price: $550,000 (+3.9% YoY; +46% vs Sept 2021). Active Inventory: ~1,000 units (–8.9% YoY in combined Bonita/Estero count). Months’ Supply: 7.9 months (–37.7% YoY). Median Days on Market: ~71 days.
Estero: Price Rebound Amid Steady Demand
In Estero, the market narrative is one of a price rebound and steady absorption of listings. Estero’s median sale price jumped to roughly $545,000 in September, up +9.2% from a year ago. This is a notable turnaround because Estero’s median had dipped in 2024 (around $499K in Sept 2024 after peaking above $550K in 2022–23). The year-over-year price gain in 2025 is the highest among the SWFL markets, suggesting that value-driven buyers have returned to Estero. Even so, like its neighbor Bonita, Estero’s median price is essentially back to its late-2022 level and remains about 35% higher than September 2021.
Estero experienced a healthy uptick in sales this September as well. Closed sales were up significantly from last year (on the order of +20–30% YOY). Buyer demand has been consistent, especially in the mid-priced single-family segment. Pending sales in the Bonita-Estero area soared over 30% YOY, and local agents reported strong contract activity through the end of summer. This helped shrink Estero’s inventory a bit. Months of supply in Estero is about 7.2 months, down from roughly 8½ months a year prior (−15.4% YoY). That’s a mild improvement that takes Estero closer to balance. However, supply is still about 740% higher than in September 2021—a statistic that highlights just how extreme the 2021 drought of listings was.
Current inventory counts in Estero hover around 650–700 active listings on the market. This is virtually unchanged from a year ago, even as months’ supply fell—because the rise in sales helped consume the supply. The high-level picture is that Estero’s inventory plateaued in late 2024 and has now stabilized; it’s not growing much further, but it’s not declining dramatically either. Buyers can find opportunities across a range of price points—the largest concentration of Estero inventory is in the $400K–$600K range, followed by $200K–$400K. This middle price spectrum is where demand has been solid, attracting both move-up local buyers and relocating out-of-state buyers seeking relative affordability.
Days on market in Estero remain elevated. The typical home spent around 2.5 to 3 months on the market before selling this September. Sellers have had to become realistic: with more inventory and longer days on market, homes that start too high may require price reductions. Strategic pricing is crucial—the first 30 days of a listing are when the best buyer engagement happens, and if a home is overpriced, it can linger beyond 90+ days. Buyers in Estero are enjoying negotiation leverage and time to make decisions, hallmarks of a balanced-to-buyer-leaning market.
All told, Estero’s market in September 2025 looks healthier and more active than it was a year ago. Prices have ticked back up, inventory is not overwhelming, and sales are flowing at a decent clip. It’s a market where buyers and sellers both have opportunities—buyers have choices and bargaining power, but sellers who price at market value are successfully closing deals in reasonable timeframes.
Naples: High-End Market Eases, but Remains Strong
Naples’ real estate market in September 2025 can be characterized as steady but softer on pricing. The Naples area saw about 611 closed sales in September, roughly +9.5% more than September 2024. This uptick in sales—particularly in pending contracts, which were up by +34.8% year-over-year—indicates that buyer demand perked up compared to the sluggish activity seen a year ago. Even so, Naples remains a relatively upper-end market, and buyers here have been more price-sensitive amid higher interest rates.
As a result, prices have cooled slightly: the median sales price in Naples was about $550,000 in September, representing a −3.3% dip from a year ago. Naples was unique among the sub-markets in posting a year-over-year decline in median price this month. It’s worth noting Naples’ median price had peaked around $569K in 2024; the 2025 median is a bit off that high but still +28% above September 2021. Prices have given back a few percentage points from last year’s peak but are holding at a high plateau historically.
Inventory in Naples remains relatively abundant, though it has steadied. There were roughly 3,500+ homes for sale in the Naples area in September—a slight increase from a year ago. The months of supply in Naples is about 8.7 months, down just a tad from ~9.1 months last year (−4.3% YoY). That effectively puts Naples in a balanced market range, albeit on the looser side of balance. High inventory levels relative to sales are common in Naples because the market includes many second-home and luxury listings that naturally take longer to sell.
Days on market were around 86 days in September which, while lengthy, was only about a week longer than last year. Buyers are still deliberate—taking nearly three months on average to secure a purchase—but that timeframe is no longer increasing dramatically. Well-priced homes can still move quicker; it’s the aspirationally priced luxury homes that often sit longer. The luxury segment has seen the greatest softening in prices and the longest DOM, while demand for properties under $600K (including many condos and villas) has been relatively strong.
For sellers in Naples, the current market means adjusting expectations from the boom years. Properties will not fly off the shelf at over-asking prices the way they did in 2021–early 2022. Instead, sellers should expect negotiations and contingencies—the average sale now closes around 95% of the list price, compared to 99–100% during the frenzy. Pricing accurately relative to recent comparable sales is crucial. The good news is that buyers are out there—closed sales are up year-on-year, and foot traffic has been steady.
From the buyer perspective, Naples offers more options than at any time in recent memory. With around eight to nine months of inventory, buyers can afford to be selective and patient in negotiations. The Naples market hasn’t collapsed—it’s a gentle easing at the top end and normalization overall.
Fort Myers: Ample Inventory and Gradual Growth
The Fort Myers area continues to be the most buyer-friendly of the Southwest Florida sub-markets. It has the highest supply of homes relative to demand, and while sales are improving, the pace is not as brisk as in other areas. In September 2025, Fort Myers recorded around 406 closed sales, a +3.8% increase from a year prior. This modest rise is welcome after a quieter 2022–2023, but it lagged the double-digit jumps seen in Bonita/Estero and Naples.
There were about 4,600 homes for sale in the Fort Myers area in September—roughly +6–7% more listings than the same time last year. The months of supply stands at 10.2 months, essentially flat to a year ago (+2.8% YoY). Fort Myers is the only one of the four local markets where months’ supply edged up slightly, reflecting that demand, while steady, has not been strong enough to significantly eat into the listing inventory.
Fort Myers has ample inventory due to affordability and new construction. It saw a construction boom during the pandemic as builders raced to meet demand from relocating buyers. Now, some of that new housing stock is completing and hitting the market. Additionally, after Hurricane Ian (Sept 2022), there was an uptick in listings as some owners chose to sell; by late 2023 this contributed to a swelling in supply. The result is that Fort Myers has over four times as many homes on the market now as it did in 2021. This dramatic shift has firmly placed Fort Myers in buyer’s market territory for much of the past two years.
That said, pricing in Fort Myers has been relatively stable and even inched upward recently. The median price for September was about $350,000, up +2.9% from $340,000 a year ago. This median is the lowest of the SWFL group, highlighting Fort Myers’ relative affordability, but it’s encouraging for sellers that prices aren’t falling despite the inventory load. Fort Myers’ median price had slid in both 2022 and 2023 from a peak of around $359K in 2022. The 2025 level suggests a small rebound or leveling off after that dip.
The average time on market for Fort Myers listings remains high—median around 79 days (nearly identical to last year). Many sellers are still needing three or more months to secure a buyer, and some listings go much longer if priced above market. Price reductions are common, and the percent of list price received hovers around 93–94%, so buyers are negotiating 6–7% off asking on average.
Fort Myers’ large inventory might soon peak if new listings continue to slow. If that trend holds into the fall, Fort Myers could finally see its listing count begin to recede. Any pickup in sales or further cutback in new listings will start chipping away at the 10-month supply. For now, though, Fort Myers is still very much a buyers’ market. Sellers must be patient and competitive in pricing and condition to attract buyers. The upside for sellers is that prices have remained firm at a $350K median, which is +16.7% higher than in 2021.
Conclusion & Key Takeaways
The September 2025 data paints a picture of a Southwest Florida real estate market in transition toward equilibrium. The post-pandemic boom’s aftereffects—high inventory, longer selling times, and negotiable prices—are still evident, but there are clear signs of improvement for sellers compared to a year ago. Sales volumes are up across the board, inventory is no longer rapidly piling up, and prices overall are holding steady with minor adjustments by area.
Key Takeaways:
- Buyers’ market easing: All areas except Fort Myers have seen months of supply decline from 2024 levels, indicating a slow swing back toward a balanced market. Buyers still have leverage, but competition is returning on well-priced homes.
- Prices mostly flat or slightly up: Median prices rose modestly in Bonita (+3.9%), Estero (+9.2%), and Fort Myers (+2.9%), while Naples dipped slightly (−3.3%). Overall, prices remain 30–45% higher than 2021.
- Inventory stabilizing: Active listings have plateaued or begun to decline in many segments. Bonita and Estero saw fewer new listings and slight inventory contraction, while Naples and Fort Myers still carry the most supply but are flattening out.
- Market pace normalizing: Homes are selling in two to three months on average. Buyers have time and leverage, but the best-priced listings don’t linger. Sellers who price correctly can sell within 30–45 days.
- Local nuances: Bonita Springs is closest to balance, Estero is rebounding, Naples is steady at the high end, and Fort Myers remains buyer-friendly but improving.
As we head into the final quarter of 2025, Southwest Florida real estate appears firmly resilient—a market neither overheated nor cold, but just right for prudent buying and selling decisions. Buyers have more choice and negotiating room than a couple of years ago, and sellers can still secure strong prices for well-positioned properties.
