There seems to be no stopping rising home values in Naples! The upward trajectory of the real estate market in Paradise Coast continued in the month of March with homes and condominiums seeing a 7 percent increase in value in March 2023, since the same time last year.
A wide range of demographics flock to our city to enjoy a slice of paradise, including retirees, empty-nesters, snowbirds, vacationers, and investors, who all enjoy its pristine beaches, warm Gulf breezes, fine dining, high-end shopping, world-class golfing, and lively entertainment.
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 March 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 throughout Southwest Florida for March 2023:
- The median sale price for homes in Naples increased by 7 percent from March 2022 to March 2023.
- Homes in Naples sold relatively briskly in March 2023, with the average property spending just 25 days on the market. So it’s in your best interest to move swiftly when you find a home you love.
- Across Collier County the median sale price for single-family homes jumped by $31,500—from $789,500 in March 2022 to $821,000 in March 2023, per data from Florida Gulf Coast University (FGCU).
- Lee County also saw an increase in the median sale price for single-family homes, which rose from $429,000 in March 2022 to $437,000 in March 2023, according to FGCU.
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 2.6 percent in March 2023, which is down from March 2022 by 0.1 percent, according to FGCU.
- The seasonally-adjusted unemployment rate in Lee County was 3 percent in March 2023, which was the same as the previous month and year.
- Unemployment in Southwest Florida is down, pointing to an economy that is likely moving in the right direction. The seasonally-adjusted unemployment rate in the region was 3.0 percent in March 2023, down by 0.1 percent from the same month the year prior, per FGCU.
- Seasonally-adjusted real taxable sales in Collier County totaled $1.130 billion in January 2023, a rise of 3 percent above January 2022.
- Seasonally-adjusted real taxable sales in Lee County amounted to $1.822 billion in January 2023, a rise of 2 percent from the same time last year, according to figures from FGCU.
Tourist Tax Revenues
- Seasonally-adjusted real tourist tax revenues in Collier County totaled $3.6 million in February 2023, an increase of 5 percent from January 2023.
- The seasonally-adjusted real tourist tax revenues in Lee County amounted to $2.9 million in February 2023, a dip of 4 percent since January 2023.
Airport Passenger Activity
- Airport passenger traffic at Southwest Florida International Airport (RSW) totaled 693,690 in March 2023, a decline of 6 percent from the month prior.
Are You Buying or Selling a Home in Naples?
Selling your home is a big deal, so you need to work with a REALTOR® who can get it right. We know how to market your home to all the right buyers, regardless of its price point. We’ll help you sell your home quickly and at the best possible price!
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
- Golf course homes for sale in Naples
- 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
- Tiburon homes for sale
- Grey Oaks homes for sale
- Pine Ridge homes for sale
- Homes for sale in Pelican Marsh
You can also browse all Naples homes for sale.
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