Hurricane Ian made landfall in Naples Florida on September 28th, 2022. The storm surge breached most, if not all of the beachfront condos and homes in the area. The water also crept into several homes on canals and bays that are connected to the gulf, as well as some of the buildings located within 3 blocks of the Gulf of Mexico.
How Will Hurricane Ian Impact the Luxury Real Estate Market in Naples?
It is still yet to be seen, but often times history is the best guide as to what will happen in the future. In 2017 Hurricane Irma made landfall in Naples, FL, and although the storm surge was not as bad, the wind was very damaging. Many of the highrise condos leaked from the top down due to wind-damaged roofs and windows. The 30 days that followed Hurricane Irma didn't see many new deals come together, BUT once we got past the first month, it was off to the races. The buyers really came out of the woodwork. A big part of it was they were able to see what areas did well and what areas did not do so well.
I believe Hurricane Ian will have a similar effect on the Naples luxury real estate market. Certain buyers find it helpful to know what areas remained high and dry and which areas did not. They can use what happened in Hurricane Ian as a guide as to where to buy. Furthermore, the highrise condos and homes that were damaged in Irma underwent major renovations to strengthen them against the next storm. From this perspective, Irma was actually a blessing in disguise. Even the buildings and homes that were hit the hardest in Ian will bounce back as certain buyers want to be on the beach and are willing to take a chance to be there--especially when it is a 2nd home and not a primary residence.
Read my related article "What Areas in Naples, FL Had the Least Amount of Damage from Hurricane Ian?"
About the Author:
Hi, my name is Sean Lorch and I grew up in the northwest suburbs of Chicago. I started in the business as a real estate appraiser and then became a real estate agent. I founded Northwest Suburban Real Estate in 2006. After realizing how much I disliked the cold weather, in 2015 I moved to Naples, FL where I help folks buy and sell real estate near the beach and in golf course communities. I take pride in my information-rich, pressure-light approach. Reach out to me anytime to talk shop.
Sean Lorch