According to data from the Naples Area Board of Realtors, the inventory of residential properties being marketed for sale surged by 40 percent. Also noted in the report was the fact that single family and condominium home sales in most of Collier County fell 14 percent in the third quarter. At the same time, total pending sales for the quarter ending Sept. 30 also dropped 14 percent to 1,942 homes. The median price of the 1,889 sales that closed in the three-month period ended in September compared to the same period in 2015 rose 4 percent to $312,000. “I think we’re seeing the completion of a cycle that began in 2013,” says Cindy Carroll, of the appraisal and consulting firm Carroll & Carroll Inc. “Prices have remained relatively stable for over a year.”
