Welcome back to this week’s Naples update, covering November 2 through November 8, 2026. Here is a quick, no fluff look at what actually moved in Naples and Southwest Florida this week, plus a brand new feature: a look at new businesses coming to the area.
Amendment 3 passed, and it was not close in the end
Florida voters approved Amendment 3, the homestead property tax exemption measure, on Tuesday with about 62 percent support, easily clearing the 60 percent bar it needed. Just last week the polls had this one too close to call. If lower property taxes are part of your plans, you can now count on this passing, though it is worth checking with your lender or CPA on exactly when and how it applies to you.
Mortgage rates keep easing, a little at a time
The average 30-year mortgage rate ticked down again this week to about 7.18 percent, its third straight weekly decline. It is a small, steady move rather than a big drop, so if you are closing soon, locking in your rate still makes sense.
New feature: what is opening around Naples
Starting this week, we are tracking new businesses coming to or opening in Collier County, the kind of news everyone in Naples likes to hear about, not just real estate clients. One quick correction up front: if you have heard that a new Trader Joe’s is coming to Central Naples, that one does not check out. Naples already has its original Trader Joe’s on Tamiami Trail North, and nothing confirms a second location. What is confirmed: a second Costco is under construction on Collier Boulevard in East Naples, and a high end nightclub is planned in Naples as well, though neither has an opening date yet.
Everything else: a quiet week
Naples’ own October housing numbers are not out yet, so September’s figures still stand: a $575,000 median sale price and 5.5 months of supply. Condo and HOA news stayed quiet for a third week running, and no new luxury sale or big development news surfaced after last week’s $71 million Gordon Drive sale.
For Buyers
- Property tax relief is now a real, passed law, not a maybe, though timing details are still settling, so confirm specifics with your lender or CPA.
- Rates are easing slowly; lock in if you are closing soon rather than waiting for a bigger drop.
- Do not repeat the Trader Joe’s rumor, it is not confirmed.
For Sellers
- Lead with Amendment 3’s passage as a real tax win for buyers, but point them to their own lender or CPA for specifics.
- Price to real numbers: Naples’ median sale price in September was $575,000.
- If you are near the new Costco construction in East Naples, that is a genuine, confirmed nearby amenity worth a mention.
What to Watch Next
- Tuesday, November 17: another round of Florida’s Citizens Insurance policies moves to private insurers.
- Mid to late November: Naples’ next official market report comes out.
- December 31: deadline for condo buildings statewide to finish required safety inspections.
That is the real story behind the headlines this week in Naples and Southwest Florida, plus a first look at what is new around town. Whether you are weighing a move, curious about the tax changes, or just want to know what is opening nearby, I am always happy to talk through what it means for your own plans. Reach out anytime, I would 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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📍Naples, Florida
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