August 2023 Real Estate Market Statistics for Naples, Florida

August 2023 Real Estate Market Statistics for Naples, Florida

The main takeaway from real estate market conditions in Naples for August 2023 is: Home values continued their upward trajectory and rose by 5 percent since the same time last year. It should be obvious that if you’re interested in buying a luxury home in Naples or a beautiful property elsewhere in Southwest Florida, you’ll be making a smart move!

Not only is Naples a natural beauty, but it touts some of the best arts and entertainment events in Southwest Florida. Add to that: high-end shopping and fine dining, lush golf greens, pristine beaches—of course, and some of the finest luxury homes and upscale communities in the state, and you’ve got a destination that’s virtually unparalleled. People who seek a luxury lifestyle, whether they are retirees, empty-nesters, snowbirds, vacationers or investors, all know that when they cross the Naples city limits—they have arrived!

Key August 2023 Real Estate Market Statistics for Naples and Southwest Florida

Here’s a snapshot of what you need to know about home sales and the dynamics of the real estate market in Naples for August 2023:

The median sale price for single-family homes in Naples rose by just over 5 percent from August 2022 to August 2023.
Homes for sale in Naples don’t sit on the market very long. The average listing lasts for a little more than 30 days before a buyer lays claim. So, when you find a home you love, it’s best to move swiftly before your potential dream home becomes the one that got away!

Other Reasons Why There’s No Better Time Than Now to Buy a Home in Naples

Take a look at this employment and economic snapshot of Naples, and other parts of Southwest Florida for August 2023:

Labor Force and Employment

Unemployment in Collier County was 2.9 percent in August 2023, per data from Florida Gulf Coast University (FGCU). However, this is nearly a full percentage point below the national average of 3.8 percent in August 2023, as reported by the U.S. Bureau of Labor Statistics.

Taxable Sales

State and local municipalities raise revenue through sales tax. Here are snapshots of taxable sales figures for Collier County, and other parts of Southwest Florida:

In Collier County, seasonally-adjusted real taxable sales amounted to $1.146 billion in June 2023—a rise of 4 percent from June 2022 and May 2023.
According to figures from FGCU, seasonally-adjusted real taxable sales in Lee County totaled $1.765 billion in June 2023, a 2 percent dip from June 2022.

Tourist Tax Revenues

Seasonally-adjusted real tourist tax revenues in Collier County amounted to $3.8 million in July 2023—a 6 percent increase from the month prior, and 3 percent more than July 2022.
Seasonally-adjusted real tourist tax revenues in Lee County totaled $2.5 million in July 2023, a dip of 4 percent since June 2023.
In coastal counties, the seasonally-adjusted real tourist tax revenues were $6.5 million in July 2023.

Airport Passenger Activity

FGCU’s most recent data shows that passenger traffic for Southwest Florida International Airport (RSW) totaled 881,748 in July 2023, which was a rise of 3 percent from the month prior.

REALTORS® Alexandra Janz and Juergen Haeringer Are Your Premiere Real Estate Brokers

At Alexandra Janz AJ International Group Naples, the team of Alexandra Janz & Juergen Haeringer, Broker Associates & Luxury Properties Specialists with William Raveis-Florida, LLC, help clients realize their dreams of purchasing a luxury home and basking in the glow of the Naples and Southwest Florida luxury lifestyle. Alexandra is not only an expert in the real estate market in Naples and Southwest Florida, but in international markets as well.

Find out how much your home is worth now!

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