Naples home prices keep surging

NAPLES — Rising home prices in Naples showed no sign of slowing in September as the median price of an existing single-family home flirted with the $300,000 mark.

The median single-family home price rose 29% in September to $295,000 compared with the same month one year ago, according to the Naples Area Board of Realtors. Existing condominium prices rose too, jumping 26% to $189,000 in September compared with September 2012.

“Demand for homes in the coastal area is driving activity in other segments due to reduced inventory,” says Kathy Zorn, broker at Florida Home Realty, in a statement. “Your average days on market for single-family homes in this coastal area went from 215 days in the third quarter of 2012 to 131 days in the current third quarter.”