The median price of homes and condos sold in The Vineyards during the second quarter of 2007 compared to the second quarter of 2006 showed some significant changes ….
The median price paid for a single family home in The Vineyards during the second quarter of 2007 was $440,000 compared to $1,135,400 in 2006. The reduction in median price amounts to about 61.2%. The drop in median price was largely due to 3 homes sold in the Napa Ridge subdivision – all were sold for less than $400,000. In 2006 there were 3 homes in Hammock Isles that sold for in excess of $1 million.
Single family homes in the Naples saw about 9.3% reduction in median price for the second quarter compared to the same period in 2006.
The median price paid for a condominium in The Vineyards during the second quarter of 2007 was $425,000 compared to $649,000 in 2006. In 2006 there were 5 coach homes in Regency Reserve sold for more than $600,000. In 2007, the sold condos were spread across a number of the condominium subdivisions – Vintage Reserve had 4 units sell for between $340,000 and $589,000. The reduction in median price is about 34.5% versus the Naples condo median price reduction of 15.8%.