Naples home prices jump 24%

NAPLES — The median price of an existing single-family home in Naples rose 24% to $379,000 in July compared with the same month one year ago, boosted by lower-priced homes.

The biggest appreciation for existing single-family homes came from sales less than $300,000, which jumped 17% to a median $224,000 in July compared with July 2014, according to the Naples Area Board of Realtors.

The strong summer sales activity carried over from the busy spring season, industry experts say. “Years ago summer was usually a slow season for sales in this area. Not any more. The past several years have had strong real estate sales in the summer months,” says Mike Hughes, president of the association and general manager of Downing-Frye Realty, in a statement.

The number of sales of existing single-family homes rose 9% in July to 494 compared with July 2014. The number of existing-condo sales rose 7% to 419 in the same period.

Meanwhile, the median price of an existing condo rose a more modest 6% in July to $240,000, compared with July 2014. The median price of an existing condo in the $300,000-plus category fell 6% to $485,000 in the same time period, the association reported.