The Real Deal Miami

Naples-area condo sales rose 6% in April while house sales fell 11%

A managing broker says a small inventory of houses priced below $300,000 contributed to April's decline in house sales
May 26, 2018 01:30PM

Brenda Fioretti, managing broker at Berkshire Hathaway HomeServices Florida Realty (Credit: LinkedIn)

April sales of condos in the Naples area rose 6 percent from last year’s level while house sales dropped 11 percent.

The number of Naples-area condo sales increased in April to 528, and the number of house sales decreased to 450, the Naples Area Board of Realtors reported.

“Closed sales of single-family homes in April were up 11 percent with an increase in every price category except the $300,000 and below range, where there are only 300 single-family homes on the market,” Brenda Fioretti, managing broker at Berkshire Hathaway HomeServices Florida Realty, said in a prepared statement.

The Naples Area Board of Realtors also reported that median price of houses sold in April increased 11 percent to $455,000 while the median sale price of condos dropped 8 percent to $271,000.

The combined number of pending sales of Naples-area houses and condos rose 5 percent in April to 1,126 from 1,075 last year.

The number of houses listed for sale in April declined 7 percent to 2,790 from 2,986 in the same month last year, and the number of condo listings increased 2 percent to 3,003 from 2,934 last year.

“Summer buyers are going to be very happy this year because there will be plenty of choices,” Mike Hughes, vice president and general manager for Downing-Frye Realty, Inc., said in a prepared statement. “Inventory growth has been good across all price ranges and geographic territories.”– Mike Seemuth