Pending sales of homes and condos up 8% in Naples

The Naples Area Board of Realtors reported 913 pending sales of homes and condos in the area in July, up 8 percent from the same month last year.

The number of single-family homes and condominium units sold in the Naples area increased 1 percent in the 12 months ended in July to 9,751 from 9,829 in the prior 12 months.

Some types of residences sold at a much faster pace, though. Naples-area sales of condos in the $300,000-$500,000 price range increased 38 percent to 947 in the 12 months ended in July from 686 in the prior 12-month period.

The Naples Area Board of Realtors also that the available inventory of Naples-area homes and condos declined. The number of homes listed for sale totaled 3,518 in July, down 1 percent from 3,563 in July 2014.

The condo inventory was 1,478 in July, a decrease of 11 percent from 1,657 in July 2014.

The average number of days listed residences remained on the market was 77 in July, unchanged from a year earlier.

“Years ago, summer was usually a slow season in sales for this area. Not anymore,” said Mike Hughes, vice president and general manager of Downing-Frye Realty Inc. “The past several years have had strong real estate sales in the summer months.” – Mike Seemuth