Overall closed sales of homes and condominums increased in the Naples area during the month of August according to statistics released by the Naples Area Board Of Realtors (NABOR). There were 587 closed sales in Collier County (excluding Marco Island) last month, a year over year increase of six sales from August of 2010. The Naples area median price continued to increase in August to $170,000, up from $156,000 in the same month one year ago.
The inventory of available homes for sale continues to drop. In August of 2011 there were 6,930 homes and condominiums listed for sale in the Naples multiple listing service, a sharp drop from the 8,745 active listings one year ago.
The average number of days it takes to sell a home increased slightly year over year going from 156 days in August 2010 to 174 days last month.