The Real Deal Miami

Pending sales of homes and condos up 8% in Naples

Sales of homes and condos rose at an annual rate of 1 percent in last 12 months
Pending home sales totaled 913 in July.

Pending home sales totaled 913 in July.

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