Report: Summer home sales slowdown is a myth

NAPLES — Naples Realtors sold 682 existing homes in July, which represents more sales during a summer month compared with January and February 2017, according to a report released by the Naples Area Board of Realtors.

In January, 603 homes were sold, and in February, 613 homes were sold. A press release announcing the numbers says it represents a “statistical reality that busts an old myth that home sales stall in the summer.”

The report also says overall closed sales on homes priced between $300,000 and $500,000 increased 32% in July. The $300,000 and below single-family home market saw pending sales decrease 24%, closed sales decrease 19% and inventory decrease 2% in July.

The number of days on the market it takes for a property to sell hit 105 days in July, the report says. "Many homebuyers are looking for a coastal, contemporary look, not the Mediterranean or Tuscan look that dominates much of the existing home market and appears dated,” says Berkshire Hathaway HomeServices Florida Realty Managing Broker Brenda Fioretti in the statement. “Sellers must either consider making renovations to meet the light, coastal look buyers want or reducing the home's price in order to stay competitive with the new construction product that reflects this new coastal, contemporary style."