Posted by Mark Washburn on Friday, July 12, 2013 at 10:25:15 AM By Mark Washburn / July 12, 2013 Comment
Strong sales of single-family homes and condos in the Fort Myers market have continued to push median prices up, rising over 25% for an existing single-family home to $176,333, and the median price of an existing condo is up 14.3% to $160,000 in May compared to one year ago. Despite the close of the traditional selling season, strong home prices reveal a rebound in real estate in the Fort Myers area. What’s impressive is that the rebound in real estate in Fort Myers surges despite the traditional selling season in Southwest Florida ended in April. Sales of existing single-family homes in May rose more than 9% to 1,255 and sales of existing condos in May rose a whopping 26.1% to 743 compared with May 2012. As the rebound in real estate continues in Fort Myers, almost 80% of the home sales are traditional; the remaining 20% are foreclosures or short sales. As prices go up and new listings on the market have dropped, buyers are competing with each other over less current inventory as the peak sales season ebbs.
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