As the busy season approaches, buyers will find more single-family homes on the resale market in the Naples area than a year ago. But, there are fewer condos to choose from than last year. The inventory of single-family homes grew 4% while the number of condos on the market shrank 7%, according to a monthly report released last Friday by NABOR.
While the single-family resale market in Old Naples seems balanced, a search for homes built in 2014 or after shows 30 active listings , and there have been 18 sales in the last year. The inventory of condos in October fell to 1,693 down from 1,811 a year ago. It fell in most geographic areas tracked by NABOR, declining the most in the Naples Beach and North Naples areas.
The median price for all homes and condos rose 9% over the year, from $265,000 to $290,000. The median closed price in the $300,000 and below price segment rose 11% and the median closed price in the $2million and above price segment rose 14%.
It appears, if you are a buyer for Naples real estate, now is the time to buy!
Mitchell L. Norgart
Gulf Coast International Properties