Naples median home prices jump in December

NAPLES — The median price of an existing single-family home in Naples rose 21% to $248,000 in December, continuing a string of sharp increases this year.

Meanwhile, the median price of an existing condo rose 16% to $187,000, according to the Naples Area Board of Realtors.

“At our annual economic summit held in April, Lawrence Yun, chief economist of the National Association of Realtors, predicted a 10% increase in the overall median price by the end of 2012,” says Brenda Fioretti, managing broker at Prudential Florida Realty, in a statement. “At the time, many people were incredulous with his assessment, but now today we are delighted to see the real estate market's prices rebounding and surpassing estimates.”