As one of the premier Gulf Coast communities in Florida, Naples is one of the most affluent and attractive cities in the United States. With a population of more than 21,000 permanent residents, this city balloons to nearly twice that when you take snowbird populations and annual tourism into account. All of this, plus more, makes the Naples real estate market as vibrant and active as ever.
Understanding What Makes Naples Real Estate So Popular
The Naples real estate market is alive and kicking, and this shows no signs of stopping anytime soon. Even in periods of economic uncertainty, median home values for the community hover at around $707,000, putting the region well above the national average. In fact, the going rate for more than 56 percent of the available homes in Naples is $1 million or above. This is split right down the middle between condos and traditional detached homes.
So what’s making the Naples real estate market so popular? Three things: location, location, location. Its presence on the Gulf Coast of southwest Florida means that it has some of the most gorgeous year-round weather anywhere, filled with warm, sunny days and comfortable nights. Meanwhile, its close proximity to some of Florida’s most abundant natural treasures like the Everglades makes it a natural draw for ecotourists as much as its pristine sandy beaches make it a favorite of anyone interested in soaking up some rays.
Finally (as if that wasn’t enough!), Naples has some of the most premier shopping districts in the region. Upscale shopping opportunities located on 5th Avenue South and 3rd Street South are major draws, and the Tin City shopping district located in downtown Naples offers an open-air market experience filled with handmade and antique goods. Throw in the nearby Big Cypress Market Place with its more than 100 eclectic vendors and other upscale locations like the Waterside Shops and the Village on Venetian Bay and you’ve got a match made in shopping heaven.
With so many world-class vacation, tourism, and shopping opportunities in Naples, the city attracts some of the most successful (and deep-pocketed) residents. These residents and visitors drive retail sales like gangbusters, with 2012 US Census data revealing that the community’s per capita retail sales were in excess of $115,000. That’s eight times more than the $13,433 national average, and it makes the local economy one of the strongest in the nation by a sizable margin. There’s no lack of business investment opportunities in this bustling town!
In addition to the affluence of its community members, Naples is a diverse location. The community and boasts a generous split when it comes to its male to female ratio with the city hosting a population of three percent more women than the national average. Additionally, thanks to its attractiveness to snowbirds, Naples’ population consists of senior citizens at a rate of 48.5 percent. That’s about 13 percent higher than the national average as well, making Naples a favorite for retirees from across the country.
The Worst-Kept Secret of Southwest Florida
As a vacation mecca, a highly-sought-after retirement community, a hub for ecotourism, and one of the most vibrant shopping locations in the United States, Naples is not shy about how incredible a place it is to visit or to live. It’s almost always bustling with activity, though its busiest season is easily the winter when the population balloons thanks to snowbirds and other vacationers spending weeks or even months at a time enjoying the good weather and world-class amenities.
Ironically, this leads to perhaps one of the only downsides of spending time in Naples. Traffic during peak tourism season can often be hard to navigate. This is unfortunate but it comes with the territory when you’ve got such an otherwise attractive, world-renowned location that’s as close to paradise as you can get thanks to its more than 10 miles of white sand beaches alone. Throw in everything else and how can you not expect that this highly attractive city won’t be buzzing like a beehive with happy tourists and locals alike?
Yet the occasionally bad traffic has not had a significant impact on the Naples real estate market and has done little to slow down the interest in this gorgeous, picturesque region of southwest Florida. As one of the most affluent communities in the US, Naples attracts lots of big-money home buyers that are willing to pay a premium for the nearly countless amenities the city offers. When you’re looking for the very best experience money can buy, then you turn to the little city in southwest Florida that has it all!