Naples existing home prices jump 22%

NAPLES — The median sales price of existing single-family homes in Naples rose 22% to $388,000 in August compared with the same month one year ago.

The increase was particularly steep for homes priced less than $300,000, according to the Naples Area Board of Realtors. The median price of existing single-family homes in that lower price category rose 14% to $232,000 in August compared with August 2014.

“One factor contributing to the impressive activity in August may be that buyers are concerned an impending rate increase will occur this fall,” says Pat Pitocchi, corporate trainer at Downing-Frye Realty, in a statement from the association.