NAPLES -- Home buyers purchased 260 existing single-family residences in Naples in November, up 7% from the same month a year ago, according to the Naples Area Board of Realtors' latest data.
But prices appear to have gone down. A year ago, the median price for existing homes sold was $204,000; this year, the median was $179,000, a 12% drop.
Part of the reason for that decrease may be a lack of demand for houses priced between $300,000 and $500,000. Closings at those price points fell from 44 to 31, while sales at every other price point increased over the year.
Condo sales were essentially unchanged from November 2010, with 252 closings, compared with 254 a year ago. The median price was nearly the same as well, at $142,000 compared to $144,00 in 2010.
Similar to housing sales, the price decrease may have been impacted by lack of demand in the middle of the market. Properties priced between $300,000 and $1 million saw a 26% drop in closings, from 54 sales to 40.