Naples area has been reported to have the priciest homes in Florida. Last month, they were more than twice the median sales price of a single family home. Collier and Lee counties were ranked higher than any other county statewide in single-family price growth. The median grew to $414,000 in August when just one year earlier, the median price was at $359,000. However, town homes and condos in SWFL had a slight price increase of 6.7 percent from $225,000 to $240,000.
The chief economist of Florida Realtors expects the pace of sales to moderate and the inventory to remain tight in the lower price ranges. Even though there is a tight supply, the housing demand will remain high. The inventory range for single-family homes is considered balanced at 4.3 months and for condos at 5.2 months.