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Business Observer Monday, May 16, 2011 8 years ago

Naples real estate slows down

Real estate sales in Naples slowed down in April 2011 relative to last year.

NAPLES — Fewer existing residential properties are selling in Naples compared to last year, and at lower prices, according to data recently released by the Naples Area Board of Realtors.

In the year that ended April 30, the number of total existing residential properties sold equaled 7,955, down from 8,145 in the prior year. The median sale price for that period was $175,000, according to Naples Realtors, down from $180,000.

Viewed separately, the markets for home and condo sales showed diverging trends. For homes, sales volumes are down while prices have recovered slightly; for condos, more properties are being sold, but prices have fallen.

Specifically, home sales fell 5% by volume over the year, from 4,217 closings to 3,987, while the median price rose from $195,000 to $205,000. Condo sales increased slightly by volume, with 3,968 sold in the most recent year, compared to 3,928 a year before; but the median price fell from $170,000 to $158,000.

The Naples Area Board of Realtors is a member of Florida Realtors, as well as the National Association of Realtors.

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