Saturday, April 19, 2014

The median resale price of an existing single-family home in the Naples area increased 15 percent

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The median resale price of an existing single-family home in the Naples area increased 15 percent to $265,000 in the first quarter of 2014 compared to the price a year earlier, according to statistics released today by the Naples Area Board of Realtors.
In the same time period, the number of resales increased 5 percent from 2,237 in the first quarter of 2013 to 2,352 in the first quarter of 2014.
In the first quarter of 2014, a total of 270 homes with a median closed price of $1 million and above exchanged hands in Collier County (excluding Marco Island), up 65 percent from 176 closed sales in that category during the first quarter of 2013, according to the report.
Inventory in all price ranges has continued to decline. In the first quarter of 2014 there were 4,405 available properties, a 14 percent decrease from the 5,136 available during the same quarter last year.
The $2 million-and-over market increased 83 percent from 48 sales in the first quarter of 2013 to 88 in the first quarter of 2014, according to the report.
Connect with this reporter: @DickHogan (Twitter) or email dhogan@news-press.com

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