Why Homes in This Florida Enclave Are Flying Off the Market

The luxury housing market isn't showing any signs of slowing down, with high-end homes in certain metros selling faster than median priced homes—but location is key.

Luxury homes across the U.S. spent a median of 78 days on the market in November, according to the Realtor.com® Luxury Housing Report. And overall, national luxury prices decreased—with the 90th-percentile threshold dipping to $1.20 million, down -2.3% from the same period last year—but certain markets outperformed others.

The Naples-Marco Island, FL, metro was a standout performer. Luxury homes in this Gulf Coast metro are selling 23.5% faster year over year. The report states this is a combination of resilient high-end demand and post-hurricane market dynamics after Hurricane Milton.

"Following hurricane-related disruptions, luxury sellers have adjusted pricing expectations, with year-over-year declines across upper tiers coinciding with an acceleration in selling speed," says Anthony Smith, senior economist at Realtor.com. "This pattern points to improved alignment between price and demand rather than a speculative surge."

"Naples is no longer a quiet beachside secret," Nella DeCesare, SWFL broker and founder at Florida Listing Experts, tells Realtor.com. "The Naples, Florida, lifestyle has taken center stage globally as one of the most desirable places to live, attracting buyers from across the world."

Coastal luxury lifestyle

It's no surprise that buyers are flocking to Florida, and Naples has been a mainstay for high-end buyers. But the area has continued to draw in new residents looking for a luxury lifestyle.

"Luxury in Naples shows up in all shapes and sizes—from lock-and-leave condos on the Gulf with concierge service and amenities, to resort-style communities, to single-family golf estates and waterfront properties," says Sue Pinky Benson, real estate agent with Re/Max Alliance Group in the Marco Island/Naples metro.

Benson explains what you're getting for your money.

"Buyers can choose the version of luxury that fits their lifestyle. But it’s important to remember: Luxury comes with a luxury price," says Benson. "You’re not getting all the bells and whistles for $200,000 or even $500,000. The lifestyle is here—the walkability, the golf, the beach, the amenities, the beauty—but price points rise quickly when those features are top of the priority list."

The report explains how Naples remains one of the most active and concentrated luxury markets. Million-dollar homes make up 35.8% of all listings, which is more than double the national share.

Inventory in the million-dollar segment remains substantial, with 2,213 active high-end listings—that's a 3.5% annual increase, and a 13.8% rise month over month. The metro’s luxury threshold sits at $3.50 million.

"Naples has incredible luxury condos that feel more like five-star resorts with their concierge services, secure buildings, state-of-the-art fitness centers, spa-style pools, social spaces, and walkable access to the beach, dining, and culture," Michael G. Lawler, luxury real estate agent focusing on Naples Coastal Communities, tells Realtor.com. "Many buyers love the lock-and-leave lifestyle, especially seasonal residents or people who travel frequently."

Well-priced homes continue to command strong attention in one of Florida’s most desirable coastal markets because of a combination of elevated supply and brisk turnover, and slightly lower price thresholds suggest buyers are active and selective, according to the report.

"Whether someone is buying a $200,000 condo or a $20 million estate, they’re typically purchasing a second or third home," Benson explains. "These buyers aren’t under pressure to relocate; they’re comparing Naples to places like Scottsdale or Boca Raton, and choosing lifestyle above all else."

Luxury hot spots

The rate of luxury homes selling in the Naples metro places it as one of November's strongest pacing improvements.

Riverside, CA, and Washington, DC, are two metros tied for a fast pace, which reflects a strong demand even as the broader market cools.

"Riverside’s luxury segment is benefiting from its role as a spillover market from higher-cost Southern California metros," says Smith. "Luxury buyers priced out of coastal and core Los Angeles markets are finding newer, larger homes at the top of Riverside’s price distribution, creating concentrated demand for a relatively narrow slice of inventory.

Smith points out that 59% of demand for the Riverside metro originates from the Los Angeles–Long Beach–Anaheim metro, underscoring how targeted migration is shaping outcomes. "That demand concentration allows well-positioned luxury listings to move faster than the broader market, even as affordability pressures weigh on lower price tiers," Smith says.

Taking the top spot as the fastest-moving luxury market is the San Jose-Sunnyvale-Santa Clara, CA, metro. The 10% of the most expensive homes has a median selling time of 56 days—more than 20 days faster than the national benchmark.

Other metros seeing a fast-pace luxury market include: Chicago–Naperville–Elgin, IL, which recorded one of the largest annual accelerations (–7.9% days on market), reflecting stronger buyer engagement at the top of its market.

Boise, ID, showed a 25.5% year-over-year reduction in the amount of days luxury homes spent on the market.

"Boise’s emergence reflects its evolution from an affordability-driven market into a relative-value luxury destination," Smith explains. "While prices remain well below those of coastal peers, the metro now offers high-end homes that appeal to remote professionals, entrepreneurs, and families seeking space, quality of life, and pricing power compared with larger metros.

"Boise also drew significant attention during and after the pandemic across both typical and high-end segments, helping establish a durable buyer base. That momentum is now evident at the top of the market, where Boise posted one of the sharpest year-over-year accelerations in luxury selling speed, signaling that its high-end segment is no longer niche, but increasingly competitive and nationally relevant."

Seattle, Houston, Phoenix, and Philadelphia posted marketing times of 61 to 65 days—reflecting that fast-moving luxury markets are not all found in coastal regions or a particular price tier.