NABOR-logoThe total number of closed home and condominium sales in the month of October for Naples and the surrounding area fell 21% when compared with the same period in 2014. There were 601 closed sales in October of this year compared to 756 in October of 2014. This information comes from the monthly report released by the Naples Area Board Of Realtors (NABOR).

During the same time period, median prices for all property types rose 9% from $265,000 one year ago to $290,000 today.

Breaking the numbers down further, there were 310 single family homes sold in the Naples area last month compared to 369 in October 2014. The median price for a single family home sold in Naples today stands at $$385,000, which is up 17% in the past twelve months,

Closed condominium sales finished October at 291, which is a 25% drop from the 387 sold in October of 2014. The median price for a condominium today in Naples is $230,000, a 10% increase over the $210,000 price paid one year ago.

Both the inventory of available homes and condos as well as the average number of days needed to sell a property remained basically even year over year. There are currently 3,903 properties listed for sale with the assistance of a Realtor today compared with 3,939 one year ago. The average number of days on market for a Naples area home or condo today is 74 days which is little changed from 72 days in October of 2014.

In the twelve months ending in October of this year, there have been 9,828 homes and condominiums sold in Naples and the surrounding area with the exception of Marco Island. In the twelve months ending last October, the area had seen 9,746 closed sales.