Naples Beach prices drop 47%? Not so fast

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In today’s Naples YTD: sales plummet, prices soar the median price of Single Family Homes sold in Naples Beach (see map below) in the first two months of 2022 as $926,000, down from $1.76 million in 2021, as sales dropped from 185 to 102.
The reason for this anomaly is that a very high share of 2022 sales occurred in the $500-$1 million price range, as shown in this chart:

Naples Beach covers the zipcodes 34102,34103 and 34108. As such it includes the most expensive real estate in Naples – Port Royal, Old Naples, Pelican Bay, etc. – but also Naples Park, where houses typically sell for under $1 million. And there were 40 sales (out of a total of 102) in Naples Park in 2022 compared with 42 (out of 185) in 2021.

A small sample – in this case two months – can often produce a distortion. When I see a result which appears to be out of line, I can analyse in more detail and discover the underlying cause (an argument for using human analysis not computerised stats).

Read these recent articles:
Naples YTD: sales plummet, prices soar
The Great Resignation’s Effect on Florida Real Estate
Federal Reserve: “Make me responsible…. but not yet”
 Guide to Buying and Selling in Southwest Florida
 Naples Year End Market Report by Location and Property Type
 Fort Myers Beach 2021 Market Report
 Bonita Springs 2021 Market Report
 Sanibel/ Captiva 2021 Market Report

Andrew Oliver, M.B.E., M.B.A.
Real Estate Advisor

m: 617.834.8205
Andrew.Oliver@Compass.com

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www.OliverreportsFL.com

Compass
800 Laurel Oak Drive, Suite 400, Naples, FL 34108
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