Naples Luxury Condos: The $1M to $3M Segment in 2026

If you're shopping Naples luxury condos this season, you're shopping the part of the market with the most activity and fewer choices than a year ago. Here are the numbers I'm working from, what the Florida condo safety laws mean for you as a buyer, and the documents I ask every client to read before they commit.

The numbers

The $1M to $3M figures come from one agent's data as quoted by Gulfshore Business, and the article doesn't say exactly which months they compare. The NABOR figures cover every condo price in Collier County excluding Marco Island, so the $400,000 median describes the whole condo market, not the luxury tier. I'll update this post when NABOR releases its next report.

Why $1M to $3M is busy

Gulfshore Business described a condo market coming back after nearly four years of softening. NABOR reported that condo sales in April 2026 rose 51% compared with April 2025, followed by an 18.2% increase in May.

Brown called $1M to $3M the "sweet spot," with the most activity. He also said prices hadn't started to rise yet for condos under $5 million, while above $5 million the average sale price and average price per square foot both rose 7.8% over the prior 12 months. Mari Vesci of John R. Wood Properties pointed to $1 million to $1.5 million as where the sales were happening.

Two reasons stand out in the reporting. First, buyers waited to see how the state's condo inspection and reserve laws would play out, including whether they'd bring special assessments. Brown said that as associations worked through the SIRS and milestone requirements, buyers felt more comfortable moving forward. Second, the area has gone a second year without tropical storm activity, which Mike Hughes of Downing-Frye Realty called a silver lining in NABOR's September report.

SIRS and milestone rules

Florida tightened condo safety rules after the 2021 Champlain Towers South collapse in Surfside. Two laws matter most when you buy a condo in a building three habitable stories or higher.

The structural integrity reserve study (Fla. Stat. 718.112). An association must have a SIRS at least every 10 years for each building three habitable stories or higher. It's based on a visual inspection and covers, at a minimum:

• Roof
• Structure, including load-bearing walls
• Fireproofing and fire protection systems
• Plumbing and electrical systems
• Waterproofing and exterior painting
• Windows and exterior doors
• Other items over $25,000 whose failure would affect the items above

The study must estimate each item's remaining useful life and replacement cost, and include a reserve funding plan with a recommended annual reserve amount. Associations that existed on or before July 1, 2022 had to finish their SIRS by December 31, 2025. An association with a milestone inspection due by December 31, 2026 may do both at the same time, but the statute says no SIRS can be completed after December 31, 2026.

For budgets adopted on or after December 31, 2024, owners in an association that needs a SIRS can't vote to waive or reduce reserves for those items (with a narrow exception for some multicondominiums). Those reserves can be funded through regular assessments, special assessments, a line of credit or a loan.

The milestone inspection (Fla. Stat. 553.899). Condo buildings three habitable stories or more need a milestone inspection by December 31 of the year the building turns 30, based on its certificate of occupancy, and every 10 years after. The local building agency can move that to 25 years for local conditions such as proximity to salt water. Phase one is a visual exam by a licensed architect or engineer. If it finds substantial structural deterioration, a phase two inspection follows, and repairs must start within 365 days after the local agency receives the phase two report.

On progress, Gulfshore Business reported that 83% of 245 buildings identified by the City of Naples building department had completed the reports as of mid-2025, according to the Gulf Shore Association of Condominiums. That figure is more than a year old, so I check each building on its own.

What to check before you buy Naples luxury condos

Florida law gives resale buyers a right to key documents, at the seller's expense, once you're under contract (Fla. Stat. 718.503). That includes the declaration, articles, bylaws and rules, the annual financial statement and budget, the inspector-prepared milestone summary if one applies, and the most recent SIRS or a statement that the association hasn't completed one. For contracts after December 31, 2024, the contract must also say whether a required milestone inspection or SIRS hasn't been completed.

Associations managing 25 or more units must post their most recent SIRS and structural inspection reports on an owner website or app (Fla. Stat. 718.111). The seller can often pull them from there early, before we get deep into a deal.

Here's my checklist:

1. The SIRS. Is it done, when, and by whom? Look at the remaining useful life and replacement cost for the roof, structure, waterproofing and windows.
2. The milestone inspection. Get the inspector-prepared summary. Did it find substantial structural deterioration? If there was a phase two, what repairs were recommended and have they started?
3. Reserves. Compare the current budget's reserve line to the SIRS funding plan. A big gap can mean higher dues or an assessment later.
4. Special assessments. Ask about any assessment that's approved, being discussed, or tied to a loan or line of credit the association took on. Read recent board meeting minutes.
5. Insurance. Ask for the master policy and what it covers, then get your own HO-6 quote on the actual unit before your review period ends.
6. Association documents. Read the declaration, bylaws, rules and the financial statement, not just the summary.
7. Rental and pet rules. Check minimum lease terms, how many times a year you can rent, any approval process, and pet rules. These vary by building and can change how you use the unit.

Your real monthly number

In this price range, the purchase price is only part of the story. Monthly association dues, the reserve contributions built into them, and any special assessment payments belong in your monthly cost, right next to taxes and insurance. Two condos at the same price can carry very different monthly numbers depending on where each building is in its SIRS and repair cycle.

Questions buyers ask me