February sales of Naples houses and condos rose 18%

The number of February sales of houses and condos in Naples increased 18 percent to 613 from 518 last year, the Naples Area Board of Realtors reported.

Median sale prices in February were $402,000 for houses, down 5 percent from last year, and $270,000 for condos, up 4 percent.

The Naples Area Board of Realtors also reported that the number of active listings in February rose to 3,259 for houses, up 9 percent from last year, and jumped to 3,204 for condos, up 23 percent.

“The February report showed inventory is up by nearly 1,000 new listings, giving us almost nine months of inventory to show eager buyers,” Dominic Pallini, president and broker at Vanderbilt Realty, said in a prepared statement.

“Buyers have more choices now. This trend is promising,” said Pallini, who also serves as president of the Naples Area Board of Realtors.

The number of pending sales of Naples houses and condos in February increased to 1,092, up 10 percent from last year.

“I’m finding buyers are taking their time making a purchase decision because it’s still unclear how some of the President’s reform policies will play out over the next few years,” Coco Amar, managing broker at John R. Wood Properties, said in a prepared statement.