Southwest Florida Housing Hits Price Correction

Punta Gorda Down 25.3% Since July 2022

Feb. 5, 2026 at 6:31am

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Southwest Florida's housing market is still working through a price correction, with home prices in Punta Gorda dropping 25.3% since July 2022 and North Port down 17.4%. This is in contrast to the rest of the country, where home prices actually went up 1.9% over the same period.

Why it matters

The sharp reversal in Southwest Florida's housing market is due to a mix of factors, including home prices shooting up too fast during the pandemic, a wave of new construction, and stricter building safety rules leading to higher costs for homeowners. This has created a challenging market for sellers in the region.

The details

A single-family home in Venice, FL that sold for $565,000 in 2023 was later listed for $519,000 in 2025, with the owner eventually selling it for $455,000 in December 2025 - a 19.5% drop from two years earlier. This pattern is seen across Southwest Florida, with Punta Gorda down 25.3%, Cape Coral–Fort Myers down 18.8%, and North Port–Sarasota–Bradenton down 17.4% since the 2022 peak.

  • In July 2022, home prices in Punta Gorda peaked.
  • By February 2026, home prices in Punta Gorda had dropped 25.3% since the July 2022 peak.

The players

Punta Gorda

A city in Southwest Florida that has seen home prices drop 25.3% since July 2022.

North Port

A city in Southwest Florida that has seen home prices drop 17.4% since July 2022.

Venice

A city in Southwest Florida where a single-family home sold for $565,000 in 2023, but later sold for $455,000 in December 2025 - a 19.5% drop.

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The takeaway

The sharp price correction in Southwest Florida's housing market, with Punta Gorda down 25.3% and North Port down 17.4% since July 2022, highlights how the region overshot during the pandemic and is now adjusting back to reality. Factors like rapid price growth, new construction, and stricter building rules have all contributed to the challenging market for sellers in the area.