NABOR-logoTotal closed home and condominium sales finished down for the 10th straight month in the Naples Area with 627 properties changing hands in July compared with 726 one year earlier. This statistic and others are part of the Naples Area Board of Realtors (NABOR) July market report.

323 single family homes were sold last month which is down 10% from 358 just twelve months earlier. The median price for a single family home in the Naples area now stands at $375,000, down 1% from $379,000 in July of 2015.

Condominium sales are down 17% year-over-year, finishing July at 304 compared with 368 in the same month last year. The median price for a condominium is now $245,000, which is an increase of 2% from $240,000 in the past year.

With slowing sales, the inventory of properties available for purchase in the Naples area has increased 36% in the past twelve months from 3,518 in July 2015 to 4,801 today.

Despite a growing inventory and soft sales, the number of days it takes to sell a home or condo decreased last month to 75 days from 77 days one year ago.

For more specific information regarding sales and pricing numbers in your neighborhood or community, call Jim Barbour anytime at (239) 273-3833 for a no obligation discussion of current market conditions.