NABOR-logoClosed home and condo sales in the Naples area continued a six month decline in March, falling 25% when compared with the same month one year ago. This statistic and others are part of the Naples Area Board Of Realtors (NABOR) report for the month of March.

There were 794 properties sold in the Naples area (all of Collier County with the exception of Marco Island) last month compared to 1,063 during the same month in 2015.  Single family home sales totaled 391, down 15% from 459 one year earlier. Condominium sales dropped 33% year over year. There were 403 sold in the month of March this year compared to 604 in March of 2015.

With declining sales, home and condo median prices, which are a lagging indicator, finished March at $323,000, up 8% from $300,000 one year earlier and off from the double digit gains common for the past three years. The median price for a single family home in Collier County stands at $400,000, up 5% in the past 12 months from $380,000. The current median price for a condominium stands at $258,000, up 3% from $250,000 in March of 2015.

With slowing sales, the available inventory of homes and condos currently listed for sale in the Naples area has increased to 5,651, up 33% in the past year.

The number of days a property is on the market before selling has increased by three days in the past year from 129 to 132.