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Business Observer Friday, Oct. 14, 2011 8 years ago

Condo sales drive Naples gains

Third quarter condo sales increased 7.3% over the year, NABOR says.

NAPLES -- A 3% increase in Naples real estate sales was driven by a 7.3% gain in condo closings, data from the Naples Area Board of Realtors show.

A total of 1,713 residential properties were sold in Naples in the third quarter, up from 1,666 a year ago. But while condo sales increased -- as did the median sale price for those units, up to $159,000 from $155,000 -- single-family home sales decreased.

The decrease in home sales was slight, down to 906 units from 914 in 2011. But those units that are selling went for higher prices than a year ago; the median sale price for existing homes in Naples was $200,000 in the third quarter of this year, compared with $185,000 last year.

Over the 12-month period ending in September, 8,212 residential units were sold -- up just 1.6% from the same timeframe a year ago.

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