PRESENTATION OF THE CITY OF NAPLES IN FLORIDA

 PRESENTATION OF THE CITY OF NAPLES IN FLORIDA

The city of Naples, Florida, located on the Gulf of Mexico, is particularly known for its fashion boutiques and golf courses.

However, as you will see, this city has much more to offer.

And in particular, a real estate market that offers idyllic care and opportunities still little known to Europeans.

The city of Naples in figures

→ Population = in 2022 is 19618

→ Industry = the 3 largest employers:

1 – Retail trade,

2 – professional, scientific, technical services

3 – health care and social assistance

→ Education = 97.1% high school graduate and 61.7% have a bachelor's degree or higher

→ Median household income: $125,306.00

→ Citizenship: in 2020 93.7% which is higher than the national average (93.4%)

→ Poverty rate: 7.57.83%

→ In May 2023 the unemployment rate was 2.5% which is lower than the national average.

→ Health coverage: 95.6% of the population has medical coverage.

What you need to know

1- World Golf Capital: This is what Naples is nicknamed. Indeed, it has an impressive number of golf courses (more than 100) designed by internationally renowned architects.

2- 280 days of sunshine on average guarantee you to fully enjoy the Florida coast.

3- Naples is usually ranked among the top cities for having the most beautiful beaches in the United States.

4- Naples' residential communities are among the finest in Florida. These gated communities offer excellence and an exceptional living environment.

5- It's a favorite spot for snowbirds who come during the winter, thanks in particular to the quality of life and calm that this small town offers.

6- In addition to offering the Floridian lifestyle, it offers a European lifestyle with establishments directly inspired by the old continent.

Naples, Florida Real Estate Figures

The Naples housing market has seen some interesting trends recently. Although there has been a slight decline in median sales prices, Naples remains an attractive location for homeowners.

According to Redfin, the median home sales price in Naples was $799,000 in May 2023, down 0.12% from the previous year. The median sales price per square foot is $428, down 9.32% from last year. Despite these fluctuations, Naples remains an attractive market for home buyers.

Compared to neighboring cities, Naples maintains its competitive status. Homes in these areas receive multiple offers, with average selling prices slightly lower than the list price. The number of days on the market varies.

In terms of migration flows, a small percentage of home buyers are looking to relocate to Naples (mostly from Chicago, New York, or Boston). On the other hand, many Naples home buyers choose to stay in the Naples metropolitan area. Sarasota, Tampa, and Asheville are among the popular destinations for those looking to relocate from Naples.

The Naples market is a balanced market. This means that the supply and demand for homes are roughly equal.

79.7% of Naples, Florida residents own their own property.

Conclusion

Considering these factors, the Naples housing market currently in 2023 can be considered relatively balanced, with neither sellers nor buyers holding a significant advantage.

The rise in median home prices and prices per square foot indicate a market that favors sellers. However, the sales-to-listing price ratio and the increased time on the market suggest buyers still have room to negotiate.