Here are some interesting Florida real estate facts and trivia to start the week along with an update on the Naples real estate market in 2023. Approximately 60,000 people move from New York to Florida every year. That’s quite a migration! In 2022, there was a mass exodus of almost 65,000 which was a new record for Florida. The data is based upon the number of New Yorkers exchanging their driver’s licenses for Florida licenses so it doesn’t take into account the New Yorkers buying in Florida but keeping their residences in New York… for now. We’re sold a lot of the Naples real estate market to New Yorkers who haven’t exchanged their driver’s licenses.
Population Trends in Florida
What’s the top population growth area in the country? Look to The Villages, a retirement community just north of Tampa.
Which state has the highest percentage of population growth? Drumroll please… Florida! This is a new record since 1957 (since air conditioning became more mainstream in the 1950’s). Let’s look at a local breakdown. Cape Coral and Ft Myers had a 4% increase in population growth and came in at number 3 in the state. The Naples real estate market has seen growth by 2.8% which puts it at number 10 in the state. Along these lines, there are approximately 1,142 NET new residents coming into Florida each day.
Where are new Floridians coming from?
According to what we’ve seen personally and the articles we’ve read, the majority of relocations are from New York. That is followed by California, Pennsylvania, Georgia and then Texas. This is something that has borne out in the sales we’ve experienced in the Naples real estate market.
How’s the Naples real estate market?
What do sales look like so far in 2023? We have a more balanced market than the Covid era years and this year is trending slightly below 2018 which was still a robust year for Florida real estate. Prices are much higher than they were in 2018 and of course interest rates are also which has decreased the total number of sales but the total sales amount has remained robust. As always, if experience, negotiation skills and dedicated service are important to you, give us a call at 239.293.0246 and we’d be happy to put our arsenal of skills to work for you.
