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NAPLES — Homebuyers purchased fewer existing single-family homes and condos in Naples in March than they did the same month one year ago.
Homebuyers purchased 391 existing single-family homes in the Naples area in March, a 15% drop compared with the same month in 2015. Also, buyers purchased 403 existing condos in March, a 33% decline from March 2015, according to the Naples Area Board of Realtors.
Still, the median price of an existing single-family home in the Naples area rose 5% in March to $400,000 compared with March 2015. The median price of an existing condo rose 3% to 258,000 in the same period, the association reported.
“Our seasonal buyers seemed to get off to a slow start this year, but showing activity has picked up in the last six weeks,” says Kathy Zorn, broker and owner of Florida Home Realty, in a statement from the association.
Buyers now have greater choices as more homeowners listed their properties for sale because of rising prices. The number of existing single-family homes for sale rose 25% in March compared with the same month a year ago. The inventory of existing condos for sale increased 44% for the same period.
“With the increase in inventory, the buyer has more properties to choose from this year,” says Mike Hughes, vice president and general manager of Downing-Frye Realty, in the statement from the association. “I also think that the sellers might be more flexible this year with their price. It is definitely a good year to be a buyer.”
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