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NAPLES — The median price of homes in the Naples area continued to rise in December by double-digit annual-percentage increases even as experts cautioned prices are stabilizing.
The median price of an existing single-family home rose 14.5% in December compared with December 2013 to $378,000, according to the Naples Area Board of Realtors. In addition, the association reported the median price of an existing condominium rose 14.9% to $239,000 in December compared with the same month one year ago.
“Even though the report shows that the overall inventory decreased 6% in 2014, it increased in several price categories including the very high end,” says Coco Waldenmayer, managing broker at John R. Wood Properties, in a statement from the association.
“The market in general is trending toward a balance of supply and demand and value stabilization,” says Cindy Carroll, with the real estate appraisal and consultancy firm of Carroll & Carroll, in a statement. “Some market sectors may have reached their peak for this economic cycle in the fall of 2014 while other areas will demonstrate continued value growth in 2015.”
You can read a recent article in the Business Observer about the Naples luxury residential market here.
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