Lee home prices up

Have we reached the peak?

Lee County existing home resale volume rose sharply in December to an average of $322,200, up from $295,400 in November 2005 and $322,000 in October 2005. 1084 existing Lee County homes sold in December up from 810 in November and 264 in the hurricane impacted month of October.

With MLS inventories growing daily and wide-spread price reductions in vogue, it is unlikely that we will see prolonged growth in the existing home resale numbers. I expect the average price to decline in the coming months due to the shear volume of entry-level investor spec homes coming on the market in Lehigh Acres and Cape Coral.

Lee home sales peak [News-Press]

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