Naples, located in Collier County, is one of Southwest Florida’s most beautiful cities. Sitting on the gulf coast of Mexico it offers miles of sandy beaches, pristine golf courses, nature preserves, a large variety of restaurants, high-end shopping, and much more. The subtropical climate and abundance of wildlife all combine to make Naples one of the best places to buy a house and raise a family.
Although the area has seen a rise in property values it is offset by the low property taxes. Tourism to the area allows for this as well as beautiful county parks and other amenities. Naples has always been known as a retirement and vacation destination but since the pandemic, many people have now permanently relocated to the area.
The current population of Collier County is just over 400,000 people and continues to have an annual growth rate of around 1.7%. The average annual household income in Collier County is $114,325 making it an attractive area for businesses to relocate to, in fact, Naples is ranked third as the best place to start a business in Florida. The US Census Bureau recently ranked Naples as one of the fastest-growing metropolitan areas and the fourth-best for job growth.
The Future of the Naples Real Estate Market
While it’s hard to forecast the future, let’s talk about what the Naples real estate market may look like in the future. For starters, we may anticipate little change in costs. Despite COVID-19, Naples has not suffered exponential price hikes in recent years, unlike many other markets in Florida and around the country.
Instead, between 2012 and 2016, Naples had a significant surge in housing values, with average prices rising from slightly over $200,000 to over $330,000. However, just because Naples hasn’t seen a lot of price increases so far doesn’t mean it will continue to be that way.
More than 1,000 individuals move to Florida every day, and the trend doesn’t appear to be slowing down anytime soon. Furthermore, as we move past the COVID-19 pandemic and reopen our borders, we can expect a new influx of foreigners from Canada and beyond looking to buy in the Naples area — either as permanent residents or as “snowbirds.” If you don’t want to wait around for demand to increase even further, then now is the time to buy a house in Naples.
Looking to Buy a House in Naples FL?
Is the Naples, FL lifestyle for you? If you’re a homebuyer planning to buy a house, or an investor looking to expand your portfolio in Naples, we’d love to be of assistance.
If you are currently living in Naples, FL and would like to put your property up on the market for a new homeowner to start their next chapter, we can help you as well. Give Frank Procopio a call today at (239) 206-6577 or visit his website today for more information.