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NAPLES — Declining inventories, fewer foreclosures and high-end sales drove the median price for homes higher in Naples in November.
The median price of a single-family home in Naples rose 46% in November to $261,000 compared with the same month one year ago. The median price of a condo rose 28% to $180,000 in November compared with November 2011, according to data from the Naples Area Board of Realtors.
The number of home sales rose, too. The number of single-family homes sold in November rose 17% to 322 and the number of condos sold in November rose 22% to 327 compared with the same month one year ago.
“For property owners who wanted to sell but did not think the market was conducive to that outcome, the current trends and tight real estate inventory allow for the possibility that scenarios may have changed in their favor either through increased equity, improving Florida economic conditions, property values trending up or historically low interest rates,” says Brenda Fioretti, managing broker at Prudential Florida Realty, in a statement from the Realtors association.
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