August sales of Naples homes fall 5 percent

The number of August sales of houses and condos in the Naples area declined 5 percent to 654 from 689 last year.

The Naples Area Board of Realtors also reported that  the area’s pending home sales in August dropped 9 percent to 734 from 811 in August 2015.

The inventory of Naples-area houses and condos listed for sale in August jumped to 4,787 from 3,525 last year, a 36 percent surge, according to the Realtors.

Residences sold in August were listed for sale for an average of 88 days, up from 75 days last year

The median sale price of Naples-area houses sold in August was $320,000, up from $308,000 in August 2015. The median sale price of  condos was $232,000, down from $235,000 in August 2015.

The number of pending sales of houses and condos fell to 734 in August from 811 in August 2015, a 9 percent drop.