Yes, it's a complement, but it's a soft complement. This is usually said when two people are talking about someone, and one of those people has been describing that other person with lots of compliments. The person listening then says your phrase in soft agreement. So the exchange would go something like this: Person A: "Do you know Person C?" Person B: "Yes! He's a great guy. He's really generous and is always trying to help everyone. He loves being around kids; he babysits all the time! I think every time I see him he's helping a friend build something or finish a project. He just loves people and helping out." Person A: "He sounds like quite the young man." So in this example Person B has just made a lot of compliments about Person C, and Person A is responding with soft agreement. Person A doesn't really know all these things are true, so they can't really agree with conviction. Person A is saying, "Wow, if all that is true, then Person C pretty special."

It's hard to say without the full context, but it seems to be suggesting that the person is some kind of 'playboy'.