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Do we need more new homes for sale in Naples, Florida?

Posted by Joseph Epifanio on Wednesday, October 2nd, 2013 at 4:32pm.

Driving through Naples today there is a hive of activity throughout once stagnant building sites.  During the heyday of rising house prices, it seemed like Naples was growing at a phenomenal rate.  There seemed no end to the growing number of communities which were springing up all around the town. 

Now as bargain house prices become harder to find, it seems that once again, major construction is underway with more new communities springing up throughout Naples.  However, do we really need all these new homes? is our population really growing at such a rate that we need to have construction on what seems like every available corner?

During 2005 - 2009 Naples and Marco Island were the 15th fastest growing metropolitan areas in Florida. Collier County is the largest county in Florida covering in all 2,025.5 square miles.   Our population according to surveys available on the Collier County Government site was 251,377 in the year 2000 and grew a whopping 27.9% during the time from April 1st, 2000 to 2010.    Noticeably during that same time period, our annual number of Tourists dropped to a low of 1,33,800 during 2009, however, that number started the rebound in 2011 with 1,489,900 tourists visiting the area.  Tourism is a huge part of the Naples economy, it brings along with it many people seeking out their retirement properties, so it stands to reason that if this increase in tourism continues, the rebound we now see in the building of new communities in Naples will also need to increase.  Certainly we are noticing a large increase in the Real Estate business, the inventory of homes for sale in Naples is certainly diminishing, so it would appear that the need for more housing is defiantly on the increase, there are, according to the Naplesgov.com website over 12,000 seasonal residents in the area during the winter months, this is a number that appears to be on the increase due to the number of baby boomers growing and seeking somewhere to retire to.  

If you want to look at the larger picture, there are 250 - 300 babies born worldwide every minute, plus statistics have shown that between the ages of 60 - 65 there are around 92-120,000 people retiring every year. So it would appear that all the new developments which are currently under construction are needed and with the great weather and low taxes in Florida, Naples is sure to attract its fair share of people wanting to retire here and call Naples their home. 

Dependably yours
Joe Epifanio
Luxury Real Estate Advisor


Joe@RealEstateJoe.com
239 825 6161

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