Welcome back to this week’s Naples Monday Market Brief, covering October 26 through November 1, 2026. Here’s a quick, no-fluff look at what actually moved in the Naples and Southwest Florida market this week, no hype, just what you need to know if you’re buying, selling, or simply keeping an eye on things.
Mortgage rates eased a little, nothing dramatic
The Federal Reserve held interest rates steady on October 28, and the average 30-year mortgage rate actually ticked down slightly afterward to about 7.24%, from 7.32% the week before. That’s a small move, not a trend, and a government inflation report released the same week came in a bit hotter than expected, so don’t expect rates to keep sliding on their own.
- 30-year fixed: about 7.24%
- 15-year fixed: about 6.60%
- Inflation (PCE): 3.6% year over year, slightly higher than August
Insurance bills are actually coming down for some homeowners
This is the good news story of the week. Florida regulators announced that insurance rates are dropping this month for more than 800,000 homeowner and auto policies across 51 counties, with companies like USAA, Mangrove, and Security First all filing cuts. There’s no Collier specific number yet, but it’s a real sign the insurance market is easing, not just talk.
Amendment 3: the vote is tomorrow
Florida voters decide tomorrow, Tuesday, November 3, on Amendment 3, which would expand the homestead property tax exemption. The latest polls this week show it’s close, and possibly short of the 60% it needs to pass. If you’ve been planning around lower property taxes, it’s worth having a backup plan either way.
Naples luxury market: $71 million, no open house required
A Gulf-front estate on Gordon Drive sold this week for $71 million, entirely off-market. It’s a reminder that Naples’ top-tier homes often sell quietly, long before they ever show up online.
For Buyers
- Lock your rate if you’re closing soon, rates likely won’t drop much further anytime soon.
- Get your own insurance quote before you make an offer, premiums vary a lot by carrier right now.
- If you’re looking at a condo, ask directly whether the building has finished its required inspections.
- Don’t count on Amendment 3 to lower your future tax bill, the vote is too close to call.
For Sellers
- Price to real numbers: Naples’ median sale price in September was $575,000. Lean on that, not guesswork.
- If your insurance premium is reasonable, mention it, buyers are comparing.
- Condo sellers: if your building is already inspection compliant, say so clearly in your listing.
- Don’t promise buyers that lower taxes are coming, tomorrow’s vote is too close to call.
What to Watch Next
- Tuesday, November 3: Florida votes on Amendment 3 (property tax exemption).
- Mid to late November: Naples’ next official market report comes out.
- November 17: Another round of Florida’s Citizens Insurance policies gets picked up by private insurers.
- December 31: Deadline for condo buildings statewide to finish required safety inspections.
That’s the real story behind the headlines this week in Naples and Southwest Florida real estate. Whether you’re weighing a move, watching your insurance bill, or just curious what tomorrow’s vote means for your own home, I’m always happy to talk through what it means for your specific plans. Reach out anytime, I’d love to help.
If you are considering buying or selling a home in Naples and surrounding areas and you aren’t satisfied with average services, you will want to contact Your Naples Real Estate Expert, Renee Hahn, to ensure you get the service, attention and outcomes you deserve.
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