NABOR-logoClosed home and condominium sales finished down in June for the ninth consecutive month.

This information comes as the Naples Area Board Of Realtors (NABOR) releases their June statistics.

There were 832 total closed sales during the sixth month of 2016 compared to 875 twelve months earlier. 412 of the closings involved single family homes, down 4% from 431 one year ago and there were 420 condominiums sold, which is off 5% from 444 during the same period one year ago.

The ongoing slowdown in sales has started showing up in the price of closed properties. The median sale price of a home in the Naples area now stands at $400,000, which is up 1% from $397,000 one year ago. The median price for a condominium has dropped 7% in the same period from $260,000 in June of 2015 to $243,000 today.

The total available inventory of homes and condos listed today on the MLS has risen by 35% in the past year and now stands at 4,983. A rising inventory of available homes puts pressure on pricing. This time last year there were 3,698 properties available for purchase.

With sales slowing, the number of days, on average, it takes to sell a home has risen 12% in the past year from 73 days to 82 days.