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NAPLES — The median price of an existing single-family home in the Naples area rose 15% to $258,000 in April compared with the same month a year ago.
As prices rose, sales fell, according to the Naples Area Board of Realtors. The association reported sales of existing single-family homes fell 2.7% to 431 in April compared with April 2011.
Based on April's sales volume, there is nearly an eight-month supply of existing single-family homes on the Naples-area resale market today.
Meanwhile, the median price of an existing condo rose 18% to $195,000 in April compared with April 2011. The number of condo sales rose 1% to 529 in the same month. There is a 7.2-month supply of existing condos on the resale market based on April's sales volume.
Since April 2011, the inventory of existing single-family homes has declined 16% and the inventory of existing condos has dropped 14%, according to Naples Realtors.
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