February sales of Naples-area homes increase 10%

The median price of Naples-area houses and condos sold in February rose 9% to $364,000

Miami /
Mar.March 17, 2018 10:35 AM

Kathy Zorn, broker/owner of Better Homes and Gardens Real Estate Pristine

February sales of houses and condos in the Naples area increased 10 percent from last year’s volume, the Naples Area Board of Realtors reported.

The total number of closings in February increased to 672 from 613 in February 2017.

The median price of house and condo sales in February increased 9 percent to $364,000 from $333,000 last year.

Pending sales of Naples-area houses and condos slipped 3 percent to 1,056 in February from 1,092 in the same month last year.

But pending sales of houses and condos increased 14 percent for properties priced at $1 million or more and 39 percent for properties priced at $2 million or more.

“I believe that the high-end market is poised for a good year,” Mike Hughes, vice president and general manager of Downing-Frye Realty Inc., said in a prepared statement, citing strength in the economy and the stock market.

The Naples Area Board of Realtors also reported 52 houses and condos sold in February for $2 million or more, including 44 purchased with cash.

“The new tax laws appear to be inspiring confidence in wealthy buyers,” Kathy Zorn, Broker/owner of Better Homes and Gardens Real Estate Pristine, said in a prepared statement.

The number of active listings for Naples-area houses and condos totaled 6,286 in February, down 3 percent from 6,466 in the same month last year.

Houses and condos sold in February were listed for sale for an average of 96 days prior to closing, down 3 percent from 99 days in February 2017.


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