Sales in July up 67 percent

The Naples Area Board of Realtors announced last Friday that overall home sales increased by 67 percent in July compared to the previous year. In addition to the increase in sales, there has been a 12 percent decrease in the inventory of homes. The supply of housing available dropped to an 18.7 month supply from the 30.6 month supply in July 2008. The condo sales are also up 61 percent with 283 sales this year in July.