July sales and prices of Naples homes rose

Sales of houses and condos rose 9 percent in July as median prices increased 6 percent


July sales of Naples-area houses and condos and their median sale prices both increased from last year’s levels.

The Naples Area Board of Realtors reported that the number of closed sales in July increased 9 percent to 682 from 627 last year.

The median price of house and condos sold in July increased 6 percent to $319,000 from $300,000 last year, a 6 percent increase.

The average amount of time from listing to closing for houses and condos sold in July increased by 40 percent to 105 days from 75 days in July 2016.

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The Naples Area Board of Realtors data cover all sales in Collier County except for those in Marco Island.

The July inventory of Naples-area condos for sale increased to 2,376 active listings, up 6 percent from 2,236 last year.

But the July inventory of Naples-area houses for sale fell to 2,552 active listings, down 1 percent from 2,565 last year.

The 1 percent drop in the number of houses for sale “may be the first sign that we are not far from a shift in the market … from a buyer’s to a seller’s market,” Cindy Carroll of real estate appraisal and consultancy firm Carroll & Carroll Inc. said in a prepared statement.