Naples home prices rise

NAPLES — The median price of existing single-family homes in Naples edged up 3.3% in June to $253,000 compared with the same month one year ago.

Meanwhile, the number of sales of existing single-family homes fell 4.9% in June to 390 compared with June 2011, according to the Naples Area Board of Realtors.

On a percentage-change basis, the median price of an existing condo rose at a greater rate than single-family homes. The median price of an existing condo rose by 8% to $189,000 in June compared with the same month one year ago, but sales declined 4.4% to 414.

Realtors say one positive sign of market improvement is that inventory continues to shrink. For example, the inventory of homes for sale in the second quarter totaled 6,310 homes, a 12% drop from the same quarter one year ago.

“Days on market continue to trend downward, especially in the $500,000 to $1 million market, which shows a 37% decrease from 216 days on the market in June 2011 to 136 days on the market in June 2012,” says Bill Poteet, president of Poteet Properties and the Board of Realtors, in a statement.