July sales of Naples-area homes fall 14 percent

Naples (Credit: Naples Water Tours)
Naples (Credit: Naples Water Tours)

July sales of houses and condos fell 14 percent in the Naples area from last year’s level, yet the median closing price increased.

The Naples Area Board of Realtors also reported that the number of area homes listed for sale in July increased 36 percent.

Home sales in Naples typically decline during the off-season in summer, when many winter-season residents return to their northern homes.

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“Home prices continue to remain stable, and we are absorbing the inventory,” Jeff Jones, Managing Broker at the Naples-Park Shore office of Coldwell Banker, said in a written statement.

The Realtors reported that the number of sales of houses and condos in the Naples area homes fell to 627 in July from 726 in July 2015, yet the median sale price in July increased to $300,000 this year from $270,000 last year.

The number of Naples-area residences listed for sale in July jumped 36 percent to 4,801 this year from 3,518 last year. Pending home sales in July declined 25 percent to 681 this year from 913 last year.