Florida’s real estate market may finally be turning a corner.
But from where I sit as a luxury real estate advisor in Naples, Florida, I believe something even more significant is happening here.
A recent Realtor.com article, “Florida’s ‘High-Beta’ Housing Market May Be Poised for a Rebound,” points to growing strength across Florida, particularly at the upper end of the market. The numbers support what many of us working directly with luxury buyers have been feeling for months: wealthy buyers are moving again, and they are willing to pay premiums for exceptional real estate.
In Naples, however, I don't see this simply as a rebound.
I believe Naples is being repriced as one of the country's premier luxury residential markets.
And after years of representing buyers and sellers here, I can say that I am seeing more potentially monumental sales taking place in Naples than at any other point in my career.
That includes one very special transaction of our own.
We recently sold a penthouse at the highly anticipated Ritz-Carlton Residences, Naples—a transaction that I expect will establish a significant new benchmark for the area once the sale is completed and reflected in the public record.
For me, transactions like this are not isolated events. They are signals.
And right now, Naples is sending a very strong signal.
Florida's Luxury Market Is Leading the Recovery
The Realtor.com story makes an important distinction that anyone following the Florida real estate market should understand.
The recovery is not happening equally across every price point.
According to Realtor.com, Florida home sales above $1 million increased 9.6% year over year, even while total Florida home sales remained down for the year. Properties above $1 million now represent approximately 11.4% of transactions in the state.
Even more telling is what is happening with pending luxury sales.
Compass data cited by Realtor.com showed pending sales of luxury single-family homes up 22.1% year over year, while luxury condominium pending sales increased 24.1%.
That tells me affluent buyers aren't simply browsing again.
They are acting.
And markets like Naples are uniquely positioned to benefit.
Naples Is Not the Typical Florida Housing Market
It is always dangerous to talk about "the Florida real estate market" as though Miami, Tampa, Orlando, Palm Beach and Naples all behave the same way.
They don't.
Naples has a very different buyer.
Many of the people purchasing our finest properties are not making decisions primarily based on mortgage rates or monthly carrying costs. They may own homes in several markets. They often have considerable liquidity. And above all, they are making lifestyle and legacy decisions.
They are asking questions such as:
Where does my family want to spend the next 20 years?
Where can I find privacy without sacrificing restaurants, culture and amenities?
Where can I own something genuinely scarce?
Where will the world's wealthiest buyers want to be five or ten years from now?
Increasingly, Naples is the answer.
Earlier this year, Realtor.com went so far as to describe Naples as Florida's emerging “quiet luxury capital.” Its research found that the median price defining the entry point into the Naples luxury market had risen approximately 88% from pre-pandemic levels to $3.7 million, ranking Naples among the most expensive luxury markets in the United States.
That transformation did not happen by accident.
Why Naples Luxury Real Estate Continues to Attract Wealth
Naples has always been affluent.
What has changed is the scale and sophistication of the luxury product being offered here—and the size of the audience competing for it.
Our market now combines several things that are very difficult to replicate elsewhere:
Exceptional waterfront real estate. Gulf-front homes, Port Royal estates, beachfront condominiums and boating-oriented properties remain inherently limited.
A quieter style of wealth. Naples offers something very different from Miami. There is extraordinary wealth here, but much of it exists behind the gates, along the beaches, on the golf courses and around private clubs rather than on display.
World-class lifestyle infrastructure. Fine dining, championship golf, boating, beaches, private aviation access, luxury shopping and cultural offerings continue to elevate the Naples experience.
No state individual income tax. Florida remains attractive to high-net-worth individuals evaluating their long-term residency.
And now there is another major ingredient:
A completely new generation of ultra-luxury residential development.
That may ultimately be one of the biggest catalysts for Naples real estate over the coming decade.
The Ritz-Carlton Residences, Naples Are Part of a Much Bigger Story
The Ritz-Carlton Residences, Naples, near Vanderbilt Beach, represent exactly what I mean.
This is not simply another luxury condominium project.
The development combines significant residences, Gulf and lagoon views, marina access, extensive private amenities and the service associated with one of the world's most recognizable luxury hospitality brands. The property includes Tower, Bay and Park Residences, with Tower homes exceeding 4,100 square feet and penthouses reaching significantly larger proportions.
Demand has reflected that positioning.
By June 2026, more than 80% of the residences were reported under contract, with prices for available inventory stretching well into the ultra-luxury category.
The development had already surpassed $500 million in sales before completion.
Those numbers matter.
But having represented a buyer in a penthouse transaction there, I have seen firsthand what may matter even more: the caliber of buyer Naples is now attracting and the prices those buyers are willing to pay for the right property.
We recently sold one of the penthouses at The Ritz-Carlton Residences, Naples.
It is the type of transaction that makes you reconsider where the ceiling actually is for luxury condominium real estate in Naples. Based on the transaction, I expect the sale to establish an important new benchmark for this part of the Naples market once completed and publicly recorded.
And I don't believe it will be the last.
Naples' Luxury Ceiling Is Still Being Discovered
This is perhaps my strongest opinion about the Naples luxury market today:
I don't think we know the ceiling yet.
For years, certain price levels seemed almost unimaginable for Naples condominiums or waterfront homes.
Then somebody paid them.
New benchmarks were established.
Then those benchmarks were surpassed again.
That process is continuing.
We are seeing new construction residences priced at levels Naples had rarely encountered historically. Trophy waterfront properties can command extraordinary numbers when location, architecture, lot position and finish quality align. And branded residences are creating an entirely new category of luxury condominium ownership.
The most exceptional properties are increasingly being evaluated not just against other properties in Naples, but against homes in Palm Beach, Miami, New York, Aspen and other global wealth markets.
That is an important psychological shift.
Naples is no longer simply the beautiful Southwest Florida alternative.
For a growing number of buyers, Naples is the destination.
This Does Not Mean Every Naples Property Will Rise
There is an important distinction here.
A strong ultra-luxury market does not mean every home in Naples can command an aggressive price.
In fact, the broader Naples housing market is considerably more balanced than the trophy-property market. Realtor.com reported a June 2026 median Naples listing price of approximately $699,900, with more than 7,000 active listings and a median 92 days on market.
That creates two very different conversations.
Properties that are ordinary, dated, poorly positioned or incorrectly priced can sit.
But irreplaceable properties remain a different asset class.
Exceptional Gulf frontage is scarce.
Exceptional Port Royal lots are scarce.
Top-floor penthouses with panoramic water views are scarce.
New branded residences with five-star services are scarce.
And scarcity becomes increasingly valuable when more wealthy buyers want access to the same lifestyle.
That is why sellers need an advisor who understands not only recent comparable sales, but also where the luxury buyer is going next.
What This Means for Naples Luxury Home Sellers
If you own a significant property in Naples, today's market requires more than putting a price on a home based on last year's sales.
At the highest level, valuation involves understanding:
- Recent and pending trophy sales
- Off-market transactions
- Replacement cost
- Waterfront and view premiums
- New construction pricing
- Branded-residence premiums
- Buyer migration and wealth patterns
- Inventory competing within the same lifestyle category
The next record sale rarely looks inexpensive compared with the previous one.
That's why the seller of an extraordinary property needs to understand the difference between being overpriced and establishing a new market.
Those are two very different things.
If you're considering selling a luxury home, condominium, penthouse or waterfront estate in Naples, I would be happy to provide a confidential analysis of where I believe your property sits in today's evolving market.
What This Means for Luxury Buyers
Buyers have opportunities too.
More inventory in the broader Naples market means buyers can often be selective.
But I would be careful about assuming that patience will automatically make the rarest properties cheaper.
There are certain residences that simply do not have substitutes.
When the best penthouse sells, another identical penthouse does not suddenly appear.
When an extraordinary Gulf-front homesite trades, there may be nothing comparable available for years.
When the right Port Royal property changes hands, its next opportunity may be at an entirely different price.
Luxury buyers should negotiate aggressively where the property allows it—but recognize scarcity when they see it.
That distinction is where experienced representation becomes especially important.
My Outlook for Naples Luxury Real Estate
I believe we are moving into one of the most fascinating periods Naples luxury real estate has ever experienced.
There will still be negotiations.
There will still be overpriced listings.
Some properties will sit longer than sellers expect.
But at the very top of the market, I expect we will continue seeing transactions that cause people to stop and ask:
"Someone paid that much in Naples?"
Yes.
And eventually, I believe those numbers will stop being surprising.
The luxury market is already giving us clues. Florida's highest price tiers are outperforming much of the broader housing market. Naples has emerged nationally as a quiet-luxury destination. New developments are introducing a level of residential product that rivals the country's most expensive markets. And wealthy buyers increasingly view Naples as a place where they can establish a primary or legacy residence—not merely spend a few winter months.
From my perspective on the ground, the momentum feels very real.
I am seeing more monumental luxury transactions taking shape in Naples than at any other time in my career.
Our recent penthouse sale at The Ritz-Carlton Residences, Naples is one of them.
I expect there will be many more.
Naples isn't simply experiencing another real estate cycle.
I believe Naples is entering a new league.
📞 Thinking About Buying or Selling Luxury Real Estate in Naples, Florida?
I specialize in helping buyers and sellers navigate the upper end of the Naples luxury real estate market, from Gulf-front condominiums and new construction penthouses to waterfront estates, golf communities and branded residences.
If you're considering The Ritz-Carlton Residences, Naples, another new luxury development, or an exceptional resale property, I can help you understand current pricing, upcoming inventory, private opportunities and how today's landmark transactions are reshaping property values throughout Naples.
And if you're a luxury homeowner wondering what your property could command in this changing market, let's have a confidential conversation.
📲 Contact me today for a customized Naples luxury home search or property valuation.
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