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Lee-Collier-Charlotte
Business Observer Monday, Aug. 15, 2011 8 years ago

Naples real estate sales slow

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Closings and median prices fell in July 2011 compared to last year's numbers.

NAPLES — In the month of July, 540 properties were sold in the Naples area, down from 572 in July 2010, according to the Naples Area Board of Realtors (NABOR). The median sale price fell as well, from $198,000 to $191,000. In percentage terms, closings were down 5.6%, with the median price falling 4.5%.

NABOR also estimates that for-sale properties are spending about the same amount of time on the market as they did a year ago. Properties sold in July 2010 spent 176 days on the market; this year, the average time on the market was 175 days.

While sales slowed slightly, inventory appears to be decreasing. NABOR estimates there are just more than 7,000 properties available for purchase in the Naples area as of the end of July, whereas a year ago more than 8,700 properties were available.

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