Naples-area condo sales up, house sales flat in first quarter

Naples-area sales of condominiums grew 10 percent in the first quarter while house sales fell by 1 percent, compared to the first quarter of last year.

The Naples Area Board of Realtors also reported that median sale prices in the first quarter were 9 percent higher for houses and 11 percent higher for condos, compared to last year.

“I think [house] sales during January and February could have been better had many of these sellers set their prices realistically earlier,” Jeff Jones, managing broker of Engel & Völkers Naples and Bonita Springs.

The average length of time that properties were listed for sale remained 95 days in the first quarter, unchanged from the same period last year.

Pending sales of Naples-area houses and condos in the first quarter, measured by properties under contract, rose 3 percent in the first quarter from last year’s level.

“Tourism was up in our area this season compared to last year, so it is not surprising that we would end with strong pending sales for the quarter,” Kathy Zorn, president and owner of Better Homes and Gardens Real Estate Pristine, said in a prepared statement.

The Naples-area inventory of houses listed for sale in the first quarter declined by 8 percent from last year’s level, and the number of listed condos was unchanged. – Mike Seemuth