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NAPLES — The median sale price of an existing single-family home in Naples rose 17% in October compared with the same month one year ago.
The median price increase, to $385,000, drove more people to list their homes for sale. The inventory of existing single-family homes listed for sale rose 4% in October compared with the same month one year ago. In the $500,000 to $1 million price range, the inventory rose 20% in the same period, according to data from the Naples Area Board of Realtors.
“The single-family home market is continuing its pattern of stabilization,” says Cindy Carroll, with the real estate appraisal and consultancy firm Carroll & Carroll, in a statement from the association. “Except for Central Naples, where the single family home inventory decreased 17%, inventories in all other geographic areas rose, some dramatically.”
Meanwhile, the median sale price of an existing condo rose 10% to $230,000 in October compared with October 2014, the association reports. The inventory of condos listed for sale fell 7% in the same period.
The number of transactions of existing single-family homes and condos declined in October compared with the same month one year ago. Realtors helped sell 405 existing single-family homes in Naples in October, down 11% from October 2014, and 402 existing condos, down 12%.
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