Despite a 59% year-over-year increase in overall inventory in the Naples area residential real estate market during June, overall closed sales during the month decreased 17.3% to 710 closed sales, according to data from the Naples Area Board of Realtors. The data also showed the overall median closed price decreased 0.8% to $595,000. The June report showed 1,351 price reductions compared to 94 price increases and a 95% list-to-sale price ratio. Overall, new listings increased by 1.5% to 896. The number of new listings in the condominium market drove this influx of inventory, which increased 9% compared to a 3.9% decrease in new listings for the single-family home market.