According to data complied from the Naples Area Board of Realtors, single family home sales in Naples fell 21 percent last month compared to February 2015. However, sales of existing single family homes rose 22 percent to 2,978 while the median price leveled off in all categories. Condominium sales were also off, with existing condo sales falling 25 percent (509 sold) in February compared to 2015 while the inventory of existing condos for sale rose 34 percent to 2,599 for the same period.
“February had the lowest number of closed sales on record of any month since November 2013. And the highest inventory level in two years,” says Bill Coffey, broker manager of Amerivest Realty Naples, in a statement. “If we continue to see a dramatic increase in inventory each month like we did for February, then we may eventually see it affect median closed prices.”
