NABOR-logoClosed sales of condominiums in the Naples area increased 14% in January when compared with the same month one year ago. 319 condos changed hands last month compared to 280 in January 2016. These statistics and others are part of the January report released by the Naples Area Board Of Realtors (NABOR).

The median price for a condo now stands at $265,000, down 5% from one year ago when the median price was $278,000.

The sale of single family homes decreased 2% year over year, falling from 291 in January 2016 to 284 last month. The median price for a single family home in the Naples area is down 7% in the past 12 months, from $425,000 to $397,000 today. The decrease in home sales was particularly noticeable in North Naples, where there were 61 closed sales in January, down 33% from 91 closed sales one year earlier. The median price for a North Naples home now stands at $505,000, down 6% year over year from $540,000.

The total inventory of available properties, both homes and condos, now stands at 6,393 , a significant increase of 26% from the 5,091 available this time last year.

As the inventory has increased, so to has the number of says it takes to sell a property. The average days-on-market stands at 91, compared to 75 just 12 months ago.

With today’s rapidly changing market conditions, you need a Realtor who stays on top of it all. You need Jim Barbour with Pollard & Hedrich Realty Inc.. Whether selling or buying, call Jim at (239) 273-3833 anytime for a no obligation discussion involving any aspect of the market.