Sales of homes and condominiums in the Naples area and Lee County declined in July from the same period one year ago.

Statistics released by the Naples Area Board Of Realtors (NABOR) show 540 closed sales in the seventh month of 2011, a drop of 32 closed sales from July 2010’s total of 572. Median price, the number at which half of all sales were less and half were more, finished July at $191,000 which was down from $198,000 one year ago. The average days a home was on the market before selling held steady at 176 days in July 2011 compared to 175 days one year ago.

The total inventory of homes listed for sale in the Naples are continues to show a significant decline year over year. In July 2010 there were 8731 properties actively listed for sale on the local multiple listing service compared to 7010 in the same month this year.

Sales of existing homes in Lee County were down 3% year over year in July, dropping to 1,100 closed sales compared to 1,139 during the same period in 2010. Statistics released by Florida Realtors show the median Lee County home price jumped in July to $106,900 from $93,500 one year ago. The median price in June of this year stood at $117,100.  

Statewide, sales of existing homes were up 12 percent with a total of 15,517 homes sold compared to 13,874 homes sold in July 2010. The median sales price for homes held mostly steady dipping one percent to $136,500.