The Top of the Naples Market, Measured
The Naples luxury market is a waterfront market. Over the twelve months to September 30, 2026, 374 homes and condominiums on salt water or in the Gulf-view towers sold for $2 million or more, for $2.45 billion, more than four-fifths of every dollar spent on the Naples waterfront. This page sets out where that money went, what it bought and what is for sale now, from our own reading of the MLS.
Twelve Months Above $2 Million
| Band | Sales | Per sq ft |
|---|---|---|
| $2M to $5M | 234 170 prior year |
$1,033 $1,146 prior year |
| $5M to $10M | 80 69 prior year |
$1,543 $1,568 prior year |
| $10M to $20M | 39 44 prior year |
$2,204 $2,220 prior year |
| $20M and above | 21 12 prior year |
$3,593 $3,537 prior year |
| All above $2M | 374 295 prior year |
$1,204 $1,377 prior year |
Waterfront and Gulf-view homes and condominiums in Naples that sold for $2 million or more, twelve months to September 30, 2026, against the twelve months before. Median price per square foot. Source: Naples Area Board of REALTORS® MLS.
Sales above $2 million rose by about a quarter, to 374 from 295, and dollar volume to $2.45 billion from $2.06 billion. Above $5 million, prices per square foot held within about 2% of the year before, and between $2 million and $5 million they eased about 10%; the overall median fell further, to $1,204 from $1,377, because more of the year’s buying happened in that lowest band, where 234 residences sold against 170. The very top grew fastest, with 21 sales at $20 million or more against 12. The median sale above $2 million was $3.75 million.
Naples Luxury Real Estate - Active Listings
Where Each Price Band Trades
Where the sales in each band happened over the last twelve months, and how many properties were for sale in early October 2026. Months of supply compares those listings with the year’s pace of sales.
| Band | Most sales | For sale |
|---|---|---|
| $2M to $5M | Pelican Bay 56, Park Shore 54, Vanderbilt Beach 22, The Moorings 20, Kalea Bay 15 | 122 6.3 months of supply |
| $5M to $10M | Park Shore 16, Pelican Bay 14, Aqualane Shores 10, Vanderbilt Beach 8 | 69 10.4 months of supply |
| $10M to $20M | Aqualane Shores 10, Port Royal 10, Park Shore 8, The Moorings 4 | 35 10.8 months of supply |
| $20M and above | Port Royal 12; Olde Naples, Naples Beach Club and Vanderbilt Beach 2 each | 26 14.9 months of supply |
Pelican Bay includes Bay Colony. Listings in early October 2026. Source: Naples Area Board of REALTORS® MLS.
The market splits in two around $5 million. Below it, the condominium towers of Pelican Bay, Park Shore, Vanderbilt Beach and The Moorings carry most of the sales, and with about six months of supply, well-priced residences still move. Above it, houses take the lead, 44 of the 80 sales between $5 million and $10 million and 45 of the 60 above $10 million, most of them in Aqualane Shores and Port Royal, and supply runs ten months or more. At $20 million and above, 26 properties were for sale against 21 sales in a year, the highest of them two adjoining Port Royal parcels at 100 and 104 Bay Road, offered together at $195,000,000.
The Year’s Highest Prices
| Address | Sold | Price |
|---|---|---|
| 20 14th Avenue South Olde Naples · Gulf-front home |
Sep 2026 | $62,500,000 |
| 4296 Cutlass Lane Port Royal · bay-front home |
Jan 2026 | $55,000,000 |
| 3220 Rum Row Port Royal · bay-front home |
Jul 2026 | $40,180,000 |
| 860 Admiralty Parade East Port Royal · bay-front home |
Apr 2026 | $40,000,000 |
| 3777 Gordon Drive Port Royal · bay-front home |
Jul 2026 | $36,500,000 |
| 1207 Spyglass Lane Port Royal · bay-front home |
Sep 2026 | $36,000,000 |
| 3373 Rum Row Port Royal · bay-front home |
Nov 2025 | $35,000,000 |
| 3440 Rum Row Port Royal · canal-front home |
Apr 2026 | $28,250,000 |
| 26 2nd Avenue South Olde Naples · Gulf-front home |
Jun 2026 | $27,000,000 |
| Regent, Penthouse 3 Park Shore · Gulf-front condominium |
Feb 2026 | $26,000,000 |
Seven of the ten were in Port Royal, most of them on the bay, and the highest of all was the Gulf-front home at 20 14th Avenue South in Olde Naples, which sold in September after 688 days on the market, at 63% of its original asking price. The only condominium among them was a Gulf-front penthouse at the Regent in Park Shore, and new residences at Naples Beach Club followed close behind, at $24,000,000 and $23,500,000.
Naples market reports, updated monthly: closed sales, median prices, months of supply and price per square foot for every Naples waterfront neighborhood in the Naples Waterfront Market Report, with the month’s highlights in our September 2026 waterfront roundup.
By neighborhood: Aqualane Shores · Bay Colony · Coquina Sands · Isles of Capri · Kalea Bay · The Moorings · Naples Cay · Olde Naples · Oyster Bay · Park Shore · Pelican Bay · Port of the Islands · Port Royal · Royal Harbor · The Dunes · Vanderbilt Beach
Cash, Time and Negotiation
Ninety percent of buyers above $2 million paid cash, against 78% the year before, and every buyer at $20 million and above did. Cash shortens the path from contract to closing but does not soften the negotiation: the median sale above $2 million closed at 90% of its original asking price after 93 days on the market, against 89% and 83 days a year earlier. Between $5 million and $10 million the median sale took about four months. At $20 million and above, sellers did best, closing at a median 93% of their first price against 81% the year before.
Houses and Condominiums
Of the 374 sales above $2 million, 144 were houses, at a median $6.4 million, and 230 were condominiums, at a median $3.03 million. Condominiums dominate below $5 million and houses above $10 million, where 45 of the 60 sales were single-family homes. For the buildings themselves, see Naples beachfront condos and Naples penthouses; for houses, Naples beachfront homes and homes with Gulf access.
New Construction at the Top
About one in six sales above $2 million, 66 of 374, was a residence built in 2020 or later. The developments shaping the next few years:
Naples Beach Club. A Four Seasons resort, opened in November 2025, with 153 residences on 125 acres in Coquina Sands. Four sold at $10 million or more this year, two of them above $20 million.
Rosewood Residences. Forty-two residences in two seven-story towers on the Gulf beside Lowdermilk Park, priced from $13.75 million to $18.5 million, with penthouses at $30 million and $50 million; completion is expected in late 2026.
Olana. Twelve estate residences of about 9,400 to 10,000 square feet, two to a floor, on the Gulf in Coquina Sands.
Epique. Sixty-eight residences in a 19-story Gulf-view tower in Pelican Bay, offered from $6.9 million to $38 million in the MLS on September 29, 2026.
The Ritz-Carlton Residences, Naples. One hundred twenty-eight residences in five buildings at Vanderbilt Beach Road and Gulf Shore Drive, from about $4 million.
3300 Gulf Shore. Fifty-one residences in two eight-story towers on Outer Doctors Bay in The Moorings, with a 16-slip private marina and bridge-free Gulf access through Doctors Pass.
Kalea Bay. Five towers in North Naples, where 35 residences sold from September 2024 to September 2026 at a median $4.25 million.
Choosing a Neighborhood
Price follows the water and the neighborhood more than anything else. The map runs south to north from Port Royal at Gordon Pass, with a twelve-month median of $17.69 million, and Aqualane Shores at $9.75 million, through Olde Naples, Coquina Sands, The Moorings and Park Shore to Seagate, Pelican Bay, Bay Colony at $4.5 million and Vanderbilt Beach below Wiggins Pass, while Oyster Bay, at $515,000, and the Isles of Capri, at $820,000, sit on the water behind the southern end. Our guide to Naples neighborhoods compares all thirteen, with a year of sales and the beach, boating and walking details of each.
Thirteen Naples waterfront neighborhoods, south to north, with each one’s median sale over the last twelve months. Map by Alpizar & Company.
Buying at This Level
Most of what separates one waterfront property from the next is not in the listing: the route and bridge clearances to the Gulf, the flood zone and finished floor elevation, what can be built on a lot under current City of Naples rules, and, in a condominium, the building’s finances. Florida’s condominium safety law requires buildings of three stories or more to complete a milestone structural inspection at 30 years (25 where the local building official requires it) and every 10 years after, and a structural integrity reserve study every 10 years, the first of which was due by December 31, 2025. Naples’ beachfront condominiums were built between 1963 and 2026, so many towers at this level have passed the 30-year mark, while the new buildings reach it in the 2050s; ask early for the milestone inspection report, the reserve study, the budget and any pending assessments. Resale buyers have seven days after receiving the condominium documents to cancel. We review all of it before an offer.
Selling at This Level
A market-wide average tells a seller very little. Above $5 million, where supply runs ten months or more, the homes that sell are priced to the closed sales in their own band, on their own kind of water, in their own neighborhood; the rest wait and come down. We prepare a confidential valuation from the sales that genuinely compare to your property and time the launch for the contract season. See selling a waterfront home in Naples.
Naples Waterfront by Category
More for Naples Waterfront Buyers
Naples Luxury Market Questions
What counts as luxury real estate in Naples?
There is no official line. We measure the top of the market as waterfront and Gulf-view homes and condominiums that sell for $2 million or more. Over the twelve months to September 30, 2026 that meant 374 sales and $2.45 billion, more than four-fifths of all the money spent on the Naples waterfront, and 60 of those sales were at $10 million or more.
How many Naples homes sold for more than $10 million?
Sixty waterfront and Gulf-view homes and condominiums sold for $10 million or more in the twelve months to September 30, 2026, together $1.2 billion. Forty-five were houses and fifteen were condominiums; twenty-two of the sixty were in Port Royal and ten in Aqualane Shores.
What was the highest price paid in Naples this year?
$62,500,000 for 20 14th Avenue South, a Gulf-front home in Olde Naples, in September 2026, ahead of $55,000,000 for 4296 Cutlass Lane in Port Royal in January. The most paid for a condominium was $26,000,000 for a penthouse at the Regent in Park Shore, in February.
Do luxury buyers in Naples pay cash?
Mostly. Ninety percent of waterfront buyers above $2 million paid cash over the twelve months to September 30, 2026, against 78% the year before, and every buyer at $20 million and above paid cash.
Is the Naples luxury market a buyer’s or a seller’s market?
It depends on the price. Between $2 million and $5 million there were about six months of supply in early October 2026, close to balanced, while above $5 million there were ten to fifteen months, which favors buyers. Even so, the median sale above $2 million closed at 90% of its original asking price, and at $20 million and above sellers achieved 93%.
How do I buy or sell luxury real estate in Naples with Alpizar & Company?
Call (239) 438-1102. Buyers get a short list built from the sales that genuinely compare, with the water, the building and the insurance checked before an offer; sellers get a confidential valuation priced against the closed sales in their own price band and neighborhood.
Closed sales reported through the Naples Area Board of REALTORS® MLS, September 2024 to September 2026, covering waterfront and Gulf-view homes and condominiums in Naples that sold for $2 million or more, the twelve months to September 30, 2026 against the twelve months before, with listings in early October 2026. Lakes, ponds and freshwater canals are excluded, as in our Naples Waterfront Market Report. Development details are from developer materials and the MLS and may change. Deemed reliable but not guaranteed.
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Alpizar & Company is a family-owned independent brokerage specializing in luxury waterfront real estate across Naples' most sought-after neighborhoods. Led by Robert Alpizar (CLHMS, GRI, SRS, PSA) and Marlene Alpizar, our team operates as advisors — not salespeople — guiding buyers and sellers with firsthand local expertise and no corporate quotas.
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