Naples-area sales of houses and condos rise more than 20% in November
The sharp increase in residential property sales in November reflects slow sales in November 2017, when the Naples area was still recovering from Hurricane Irma
November sales of both houses and condos rose more the 20 percent from the levels of November 2017.
November sales activity was “significant because it reflects our recovery from the hurricane last year,” Budge Huskey, president of Premier Sotheby’s International Realty said in a prepared statement.
The Naples Area Board of Realtors reported that November sales of houses in increased 24 percent to 645, and November sales of condos rose 21 percent to 327.
The median sale price of houses increased 1 percent in November to $485,000 while the median sale price of condos rose 2 percent to $255,000, according to the Naples Area Board of Realtors.
The November inventory of houses listed for sale in the Naples area grew to 5,971, up 12 percent from November 2017, and the condo inventory increased 8 percent to 2,938.
“We haven’t seen this level of inventory going into season in six years,” Jeff Jones, president and managing broker at Engel & Völkers in Naples and Bonita Springs, said in prepared remarks.
The average duration of listings of houses and condos sold in November declined to 95 days from 101 in the November 2017. – Mike Seemuth