If you’re like many people, you know that an area’s economy is an important indicator of its overall health – and it may signal whether it’s the right place for you to live. This guide explores the economic indicators in the Southwest Florida region so you can gather as much information as possible when considering moving or investing in the area.
Southwest Florida’s Economy is Thriving – and Now’s the Perfect Time to Move Here
Aside from white sands, bright sun and the beautiful sea, there are plenty of reasons to move to Naples. This city is teeming with luxury amenities, high-end shopping and dining, and some of the most beautiful homes in the state.
These are some of the most important statistics to note from June 2022, the most recent month for which statistics are available:
- There were 1,064 new pending home sales in June
- Homes spent an average of 8 days on the market
- The monthly supply of inventory was up 29.4 percent over June 2021
- A total of 944 homes sold during the month of June
- The median sales price was $601,236 – a 31.2 percent increase over June 2021
- The median percentage of original list prices was 100 percent – homes are typically selling at their listing prices (or higher)
The following graphic gives you a quick peek at these same stats.
Other Notable Statistics and Economic Indicators for the Naples Area
If you’re considering a move to Naples, these important statistics may help you make the right choice.
- Active home listings for coastal counties in Southwest Florida increased by 28 percent from April 2022 to May 2022, and they were 53 percent higher than they were in May 2021
- Median prices rose significantly between May 2021 and May 2022, increasing between 22 to 31 percent
- Single-family building permits increased by 28 percent between May 2021 and May 2022
If you’re looking for statistics outside real estate, here’s what to know:
- The seasonally adjusted unemployment rate in Southwest Florida for May 2022 was 2.1 percent; that’s lower than the national unemployment rate of 3.6 percent.
- Seasonally adjusted taxable sales showed an 18 percent increase between April 2021 and April 2022, which means businesses are seeing higher profits.
- Seasonally adjusted tourist tax revenues increased 21 percent between April 2021 and April 2022; that means tourists are beginning to filter back through and contribute to the local economy.
- Collier County’s tourist tax revenues amounted to $4.2 million in April 2022 alone
- Collier County’s total taxable sales were $1.204 billion in April 2022; that’s a 16 percent increase over April 2021, and 9 percent higher than March 2021.
Why a Strong Economy is Good for Buyers
Generally speaking, a stronger economy means home values increase – and when you purchase a home and the economy strengthens, you see appreciated value. Additionally, higher wages and lower unemployment rates (both signs of economic growth) tend to boost the demand for housing. That means people who buy a home in Naples now may be able to watch a home investment grow exponentially over the next several years, provided that economic growth is sustained.
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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