A Naples condo contract now comes with a stack of building records attached. Before a buyer is bound, the seller has to hand over the declaration, bylaws and rules, the association's annual budget and financial statement, the milestone inspection summary if the building needs one, and the most recent Structural Integrity Reserve Study. If no study has been completed, the seller provides a statement saying so. The buyer then has a window to read all of it and cancel. That cancellation right is why the 2026 Naples condo numbers look contradictory.
Through August 2026, condo closed sales in the Naples market rose 21.8% over the same period in 2025. Over the same stretch the median closed price fell 4.3% to $440,000. A falling price paired with rising volume usually means a change in which homes are selling. In Naples condos, that change runs through the document packet.
Seven days, excluding weekends and holidays
Under Florida Statutes section 718.503, a buyer of a resale condo can cancel in writing for 7 days after signing the contract and receiving the required documents. Saturdays, Sundays and legal holidays don't count toward those 7 days. The right ends at closing, and the statute treats any attempted waiver as ineffective. A separate clause gives the same 7-day right for the milestone inspection summary, any qualifying turnover inspection report, and the most recent reserve study. The seller must also provide the governance form issued by the state's condominium division.
The window used to be 3 days. CS/CS/HB 913, which became Chapter 2025-175, extended it to 7, effective July 1, 2025. The 2026 session didn't reopen the policy. Its only change to section 718.503 came in SB 104, a reviser's bill that fixed a cross-reference in the reserve study definition. The 2025 framework is the one in force this season.
The timing affects both sides of a deal. Two Naples Realtors interviewed by the Naples Press pointed out that a contract signed on a Thursday or Friday stretches the window to at least 11 calendar days. That is enough time to finish a home inspection before the cancellation right expires. They also described a seller-side response. Collecting the association documents before listing, and having the buyer sign the receipt as part of the offer, starts the clock as early as possible.
The bigger effect is on price. A buyer who can walk away after reading the reserve study will price the building's finances along with the unit.
The median is measuring a different mix
The August 2026 report from the Naples Area Board of REALTORS® covers Collier County excluding Marco Island. Its condo figures don't fit a simple "prices are falling" story.
| Naples condo market, Jan. through Aug. | 2025 | 2026 | Change |
|---|---|---|---|
| Closed sales | 2,700 | 3,288 | +21.8% |
| Pending sales | 3,043 | 4,111 | +35.1% |
| Median closed price | $460,000 | $440,000 | -4.3% |
| Average closed price | $756,749 | $764,629 | +1.0% |
| New listings | 5,351 | 4,823 | -9.9% |
The median moved down while the average moved up. Prices didn't drop evenly across the board. When the middle falls and the average rises, sales are growing fastest in the lowest tier and in an upper tier, while the middle grows more slowly.
NABOR's rolling 12-month price-range counts compare the year ending August 2025 with the year ending August 2026:
- $300,000 and below: 840 to 1,171 condo sales, up 39.4%
- $300,001 to $500,000: 1,289 to 1,501, up 16.4%
- $500,001 to $1,500,000: 1,206 to 1,350, up 11.9%
- $1,500,001 to $5,000,000: 309 to 437, up 41.4%
- $5,000,001 and above: 42 to 43, up 2.4%
The lowest tier added about 330 sales, which pulls the median down because that segment holds so many units. The $1.5 million to $5 million tier grew faster in percentage terms, but it is a smaller pool. Its gains lift the average without doing much to the middle. Above $5 million, sales were nearly flat.
The fastest-growing tier, condos at $300,000 and below, is also where reserve funding and assessments tend to matter most relative to the purchase price. NABOR doesn't break out sales by building age, and the research turned up no named building whose assessment can be tied to a specific discount. The Naples Realtors quoted in local coverage describe the mechanism directly, though. In the same Naples Press interview, the pair tied buyers' more cautious offers to hurricane assessments, higher insurance costs, rising fees to rebuild reserves and higher interest rates:
"Quality, condition and financial health remain driving factors in determining which condos sell and which condos sit, and buyers now have all the information they need in determining these factors in their potential purchases."
A Naples Realtor quoted by Gulfshore Business described the same pattern from the buying side. Buyers waited for the reserve studies and milestone inspections to be finished, then grew more comfortable. Some of the condos that had been vetted and improved were available at prices well below where they stood a few years earlier. Taken together, the sales growth in the cheapest tier reflects buyers committing once the paperwork lets them see what a building's finances will cost them. The softer median comes from which condos are selling.
Sellers are holding back, and supply is shrinking
Fewer owners are listing. In August 2026, condo new listings fell 17.4% from August 2025, to 360. Active condo inventory dropped 15.2% to 2,099 units, and months of supply fell from 8.7 to 5.6. Condos closed in August at 94.4% of list price, compared with 93.5% a year earlier. Days on market until sale fell from 123 to 109.
The year-to-date days-on-market figure points the other way. It rose from 93 to 105 for January through August 2026. That fits a market sorting listings by building health. Units in well-documented buildings sell, units with open questions sit, and the average across the year carries both. The Naples Press reported a similar adjustment on pricing: sellers had moved away from pandemic-era asking prices, and owners who had put off selling for years were accepting the market.
The squeeze is sharpest on the coast. NABOR's Naples Beach area covers 34102, 34103 and 34108. There, January through August 2026 condo sales rose 28.5% to 806 and the median slipped 3.9% to $1,091,250. In August, inventory fell from 732 to 547 and months of supply dropped from 10.9 to 6.3. Close to the Gulf, the pattern is the same as countywide. Volume is rising faster, the median is softening, and supply is tightening more. The beach market is heading into season with about four fewer months of supply than a year ago.
What associations are doing about reserves
The documents a buyer reads also reflect choices each association has made. Under HB 913, a unit-owner-controlled association required to have a reserve study can fund its reserves through a special assessment, a line of credit or a loan, with majority approval of the voting interests. The law also allows reserve pooling. Under specified conditions, it lets a majority vote of a unit-owner-controlled association pause or reduce reserve contributions for up to two consecutive annual budgets after a milestone inspection. A reserve study is required before contributions resume.
In practice, two buildings with similar repair needs can present very differently on paper. One may show a one-time assessment. Another may show higher monthly fees, a loan, or a temporary pause with contributions due to restart later. A Naples Realtor quoted in Florida Weekly said some communities were raising monthly fees instead of issuing special assessments to bring reserves up to the required level. Each approach changes the monthly carrying cost, and the budget and reserve study in the packet are where it shows up. Two condos at the same list price can have very different real costs, and the 7-day window is the period set aside for reading those records.
Frequently asked questions
Is the condo cancellation period 7 business days? The statute says 7 days, excluding Saturdays, Sundays and legal holidays, after the contract is signed and the required documents are received. The right ends at closing.
What if a building has no reserve study? The seller must provide the most recent study or a statement that one has not been completed. For contracts entered after December 31, 2024, the contract itself must also carry conspicuous language about whether the required inspections and study have been completed.
When is newer market data due? NABOR's 2026 release schedule lists October 23, which would be the September report. The August figures above were current as of September 10, 2026.
If you're comparing Naples condos this season, Haven Group can help you read a building's reserve study, milestone summary and budget side by side within the 7-day window, so you know what each unit will really cost before that window closes. Contact us for a private consultation.
This article is general information, not legal, tax or financial advice. Consult a qualified professional about your situation.