Naples Florida Realtor

November 2022 Real Estate Market Statistics for Naples, Florida

Homes and condominiums in picturesque Naples have maintained a double-digit increase in value in November 2022 since the same time last year. Rising home values in Naples are a testament to its captivating beaches, golf greens, fine dining, high-end shopping, and lively entertainment. If you’re planning to settle down in a luxury home in Naples, or in a breathtaking property elsewhere in Southwest Florida, wait no longer. These real estate market statistics for Naples and the surrounding region prove that there’s no better time to invest in your dream home than now.

 

Key November Market Statistics for Naples and Southwest Florida

Here’s what you need to know about homes for sale in Naples, and the dynamics of the real estate market in the city and around Southwest Florida for November 2022:

  • The median sale price for homes in Naples rose by just over 20 percent from November 2021 to November 2022.
  • The median sale price for condominiums in Naples rose to $448,250 in November 2022—a little over a 19 percent increase since the same time last year.
  • Across Collier County the median sale price for single-family homes increased from $659,000 in November 2021 to $850,000 in November 2022, per data from Florida Gulf Coast University (FGCU).
  • Coastal counties saw a total of 1,361 single-family homes sold in November 2022, which was a 7 percent increase from the previous month, FGCU reported.
  • Inventory for single-family homes and condominiums in Naples rose by 93 percent in November 2022, which points to one thing: Now is an ideal time to purchase a home in Naples. With so many properties to choose from, your dream home surely awaits. Another thing working in your favor is that you’re likely to have more leverage when you go to negotiate a deal with a seller.

Other Significant Statistics That May Mean Now is a Great Time to Buy a Home in Naples

Unemployment rates in both Collier County and Lee County are on a downward trend, and taxable sales in both counties are up by double-digit percentage points, pointing to healthy economies in both counties. Check out these key economic indicators for Naples and Southwest Florida:

Taxable Sales

  • Seasonally-adjusted taxable sales in Collier County amounted to $1.237 billion in October 2022, up by 16 percent from the same time last year, and 4 percent higher than the previous month.
  • Seasonally-adjusted taxable sales in Lee County totaled $1.972 billion in October 2022, a rise of 17 percent from October 2021 and 12 percent higher than the prior month.

Labor Force and Employment

  • Unemployment in Collier County was 3.1 percent in November 2022, down slightly by 0.3 percent from October 2021.
  • The seasonally-adjusted unemployment rate in Lee County was 4.1 percent in November 2022, which was down 0.3 percent from the previous month.

Tourist Tax Revenues

  • Tourist tax revenues in Collier County totaled $4.6 million in September 2022, a decrease of 6 percent from the previous month. (This data point comes with a footnote that Hurricane Ian impacted Naples and Southwest Florida in September 2022).
  • Seasonally-adjusted tourist tax revenues in Lee County amounted to $4.8 million in September 2022, which was a 14 percent decline from September 2021.

Airport Passenger Activity

  • Passenger traffic at Southwest Florida International Airport (RSW) was 432,667 in October 2022, a decline of 16 percent from September 2022.
  • Passenger activity at PGD totaled 99,092 in October 2022, up 53 percent from the month prior.
  • Passenger traffic at SRQ was 308,012 in October 2022, an increase of 62 percent from the previous month, and up 12 percent from the previous year.

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