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Business Observer Monday, Jan. 19, 2015 3 years ago

Naples home prices keep rising

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The median price of a single-family home and condominium in Naples rose nearly 15% in December compared with the same month in 2013.

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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