According to the Naples Area Board of Realtors (NABOR) Closed Sales of properties increased 5% in August 2018 (719 homes compared to 685 in August 2017). Closed Sales in August 2018 experienced a 21% increase specifically in the condominium market, which was the driving force in the August 2018 overall increase.
Inventory rose by 2%, primarily in the single family home market priced under $500,000. August generally shows a greater amount of inventory has Sellers prepare for the busy Winter Season.
Overall, median Closed Prices fell 3%. The only segment where prices increased was in the $500,000-$1million condominiums, where a 13% increase was seen. A 16% increase was shown in South Naples, reflecting both the single family home market and the condominium market.