The Fall of Summer
As the beach umbrellas begin to change color and we lose 40 minutes of sunlight in October, things are starting to pick up here in Naples as we move into Q4 2023. Or as the rest of the world calls it…Fall. The school season is well underway and with all of the traffic that comes with it. Friday night lights at high school football stadiums burn as bright as the enthusiasm and energy both on the field and in the hearts of attendees. The Feast of Trumpets has ushered in a new year for many while others prepare to end their year with celebrations of their own. Now is the season for the final push of closing real estate transactions and applying for homestead exemptions here in Collier County. While the vacation rental season has not quite started here in Naples, it certainly will start ramping up from this September ’23 housing market update on out until “peak” season in March 2024.
How Are People Buying in ’23?
- Median Sales Price – $707,500
- Average Sales Price – $1,257,330
- Max Sales Price – $46,800,000
During that same time, 2419 transactions had conventional financing while only 328 buyers utilized FHA financing.
- Median Sales Price w/ Conventional Financing – $560,000
- Average Sales Price w/ Conventional Financing – $780,798
- Max Sales Price w/ Conventional Financing – $14,250,000