The Real Deal Miami

Naples Realtors: Inland areas east of U.S. 41 gaining

The condo market in South Naples was a standout inland market during the third quarter

October 24, 2015 03:05PM

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U.S. 41 in downtown Naples. (Credit: Scott McIntyre, Naples Daily News)

U.S. 41 in downtown Naples. (Credit: Scott McIntyre, Naples Daily News)

The Naples Area Board of Realtors’ third-quarter market report showed increased interest among home buyers in neighborhoods located inland, or east of U.S. Highway 41, remote from beachfront areas.

The condo market in South Naples was a standout among inland markets during the July-through-September period.

The  median closed-sale price for condos in South Naples increased 24 percent from the third quarter of last year. The number of condo sales in South Naples rose 9 percent and the number of pending sales increased 8 percent.

Other inland areas with heightened activity include Central Naples, located between U.S. 41 and Collier Boulevard, and East Naples, east of Collier Boulevard.

In the overall Collier County market, excluding Marco Island, closed sales of single-family homes in the price range of $1 million to $2 million increased 79 percent in the third quarter, to 100 from 56 compared with the same period last year, faster than any other price category.

The Naples Area Board of Realtors also reported that pending sales of single-family homes and condos decreased 1 percent in the third quarter, compared with the same period last year , and closed sales of increased 3 percent.

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