August sales of Naples-area condos rise 21% as house sales dip 3%

The Naples Area Board of Realtors also reported that median sale prices in August were unchanged for condos and 3% lower for houses

Sep.September 15, 2018 02:00 PM

Jeff Jones, managing broker of Engel & Völkers in Naples and Bonita Springs

August sales of Naples-area condominiums surged 21 percent from last year’s levels while house sales dropped 8 percent.

The Naples Area Board of Realtors also reported that the median sale price of condominiums in August was $250,000, unchanged from the same month last year.

The median price of houses sold in August slipped 3 percent to $319,000.

Most houses listed for sale in the Naples area last month have asking prices under $500,000.

But the Naples Realtors also reported that pending sales of condos priced from $500,000 to $1 million jumped 28 percent in August while pending house sales for more than $2 million soared 62 percent.

“The upper end continues to drive our market,” Jeff Jones, managing broker for the Naples and Bonita Springs offices of brokerage firm Engel & Völkers, said in a prepared statement.

New listings of Naples-area houses in August rose 2 percent to 4,913 from 4,807 in August 2017. New listings in August for condos were virtually unchanged at 2,353.

“Historically, August is where we begin to see an increase in inventory as sellers get ready for our busy winter season,” Mike Hughes, vice president and general manager for Downing-Frye Realty, said in a prepared statement. – Mike Seemuth

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