Home values in Naples continued their upward trajectory in February, with homes and condominiums seeing an increase of 9 percent in value in February 2023, since the same time last year.
Steady increases in home values in our city are a testament to its appeal as a sought-after destination for people from all walks of life. It’s quite hard to resist pristine beaches, warm Gulf breezes, fine dining, high-end shopping, golf greens, and lively entertainment—all within one idyllic setting.
If you’re looking to buy a luxury home in Naples or a lovely property elsewhere in Southwest Florida, the sustained increases in property values may indicate that your investment will be a wise one. If you’re looking to sell your home in Naples, the current home values may put you in a great position.
Here’s even more positive news about real estate in Naples and Southwest Florida.
Key February 2023 Real Estate Market Statistics for Naples and Southwest Florida
Here’s what you need to know about home sales in Naples, and the dynamics of the real estate market in the city and around Southwest Florida for February 2023:
- The median sale price for homes in Naples increased by just over 9 percent from February 2022 to February 2023.
- Across Collier County the median sale price for single-family homes rose from $700,000 in February 2022 to $775,000 in February 2023, per figures from Florida Gulf Coast University (FGCU).
- Lee County also saw an increase in the median sale price for single-family homes, which rose from $410,000 in February 2022 to $447,500 in February 2023, according to FGCU.
- Homes in Naples sold at a relatively brisk pace in February 2023, the average property spending just a little over 30 days on the market. So, if you find a home you love, it’s in your best interest to make a move.
Here Are Other Reasons Why Now May Be a Great Time to Buy a Home in Naples
Check out some of Southwest Florida’s other key economic indicators:
Labor Force and Employment
- In Collier County the unemployment rate was 2.7 percent in February 2023, down 0.4 percent from the same month last year, according to FGCU.
- The seasonally-adjust unemployment rate in Lee County was 3 percent in February 2023, less 0.4 percent from February 2022.
- Unemployment in Southwest Florida is down, which points to an economy that’s moving in the right direction. The seasonally-adjusted unemployment rate in the region was 2.9 percent in February 2023, down by 0.4 percent from the same time last year, per FGCU.
- Seasonally-adjusted real taxable sales in Collier County totaled $1.105 billion in December 2022, up 1 percent from the previous month.
- Seasonally-adjusted real taxable sales in Lee County amounted to $1.821 billion in December 2022, a rise of 3 percent above December 2021, FGCU reported.
Tourist Tax Revenues
- Seasonally-adjusted real tourist tax revenues in Collier County totaled $3.4 million in January 2023, an increase of 6 percent from December 2022.
- The seasonally-adjusted real tourist tax revenues in Lee County amounted to $3.1 million in January 2023, an increase of 1 percent since December 2022.
Airport Passenger Activity
- Airport passenger traffic at Southwest Florida International Airport (RSW) amounted to 750,214 in February 2023, a dip of 4 percent from the month prior.
Find out how much your home is worth now!
Are You Buying or Selling a Home in Naples?
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If you’re looking for a home for sale in Naples, we’re here to help. We specialize in luxury real estate and can show you any listing. In the meantime, please feel free to explore what’s available now:..
- Pelican Bay homes for sale
- Homes for sale in 34102
- Homes for sale in gated communities in Naples
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- Aqualane Shores luxury homes for sale
- Old Naples homes for sale
- Homes for sale in Talis Park, Naples
- Park Shore (Naples) homes for sale
- Homes for sale in Moorings
- Condos for sale in Moorings
- Coquina Sands homes for sale
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- Homes for sale in Pelican Marsh
You can also browse all Naples homes for sale.
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