H
ome prices in Southwest Florida are finally starting to dip, but experts say it's not a sign of an impending real estate collapse. Jillian Young, president of Premier Plus Realty, attributes the recent slowdown to buyers reevaluating affordability amidst rising property taxes and interest rates.

    Young notes that the pandemic significantly altered the market dynamics, with sales skyrocketing in 2020-2024. In Naples, for example, over 15,000 homes were sold during this period, compared to a more typical range of 8,000 to 10,000 per year. Young sees current price reductions – typically around 1% to 5% – as signs of a market correction rather than a bubble bursting.

    George Astrauckus, a Naples resident who recently bought and sold two homes in the area, shares Young's assessment. He advises those concerned about buying or selling to seek guidance from an experienced realtor. For potential homebuyers, Young recommends considering East Naples, where prices are slightly decreasing and appreciation is expected over time.

    Young emphasizes that even with some price adjustments, Southwest Florida remains a desirable market for homeowners. As the local real estate landscape continues to evolve, WINK News will provide updates on the latest developments.