Southwest Florida’s housing market is still working through a price correction, and it’s been a rough ride for sellers. Home prices in Punta Gorda have dropped 25.3% since July 2022, and North Port isn’t far behind, down 17.4%. Compare that to the rest of the country; U.S. home prices actually went up 1.9% over the same stretch.
For example, a single-family home in Venice, FL, sold for $565,000 in 2023. By then, the market was already cooling off. Buyers started gaining leverage, and Southwest Florida shifted into “correction mode.” Fast forward to early 2025, the owner listed that same house for $519,000. Four price cuts later, and a short stint off the market, it finally sold in December 2025 for $455,000. That’s a 19.5% drop from what it fetched just two years earlier. Still, that $455,000 sale is 38.7% higher than what the house sold for in 2017, back when it went for $328,000.
The pattern is apparent: Southwest Florida is one of the two weakest spots in the U.S. housing market. Only Austin, Texas, has seen a bigger drop. Since the 2022 peak, home prices are down 27.3% in Austin, 25.3% in Punta Gorda, 18.8% in Cape Coral–Fort Myers, and 17.4% in North Port–Sarasota–Bradenton. That Venice house sits squarely in the North Port–Sarasota metro, right where the pain is sharpest…