Fort Myers home prices rise 30%

BY: BUSINESS OBSERVER

May 23, 2013

FORT MYERS — Residential prices rose significantly in April in the Fort Myers area as homebuyer demand continued to increase.

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“Buyers continue to be challenged by above-price offers, rising listing prices and low inventories,” says Doris Falcone, president of the Realtor Association of Greater Fort Myers and the Beach, in a statement. “Our members are extremely busy this year, well beyond our traditional peak sales season, due to buyer demand.”

The median sale price of an existing single-family home in April in the Fort Myers area was $182,000, a 30% increase over the $140,199 price in April 2012. The median price of a condo rose to $150,000, a 7% increase from the $140,000 one year ago, according to the association.

Rising prices and lower inventories resulted in a flat number of sales of single-family homes in April compared with the same month one year ago. Realtors reported 1,172 home sales in April, a 1.4% increase over April 2012. But the number of condo sales rose 12% to 765 in the same period.

Traditional sales made up 79% of all existing single-family home sales in April, with the remaining short sales and foreclosures.

via Fort Myers home prices rise 30% || Business Observer | Tampa Bay, Bradenton, Sarasota, Fort Myers, Naples.