Naples home prices jump 17%

NAPLES — Declining inventories and rising demand for housing pushed the median price of an existing single-family home in Naples up 17% to $327,000 in November compared with the same month in 2013.

Condominium prices are rising too, according to the Naples Area Board of Realtors. The median price of an existing condo in Naples in November rose 7.3% to $220,000.

Real estate experts suggest that hot areas of town such as Naples Beach may be reaching peak levels. “Median price in the Naples Beach area single family home market can not continue to increase at the current rate indefinitely,” says Cindy Carroll, with the real estate appraisal and consultancy firm of Carroll & Carroll, Inc., in a statement from the association.