Southwest Florida Market Update – October Stats
Sales of resale homes in the Greater Fort Myers area rose again for the tenth consecutive month in October up 122.4% versus the prior year. However, the value of homes continued to drop due to the continued presence of short sale and bank owned properties. The median price is now $119,900, which is 22.6% below the 2003 level.
There were 12,611 single-family homes for sale in October in the area, for an estimated 8.3 month supply of inventory. Sales activity is picking up pace as over 1,877 properties are pending, including properties that are active contingent and require lender approval. This is an increase of 170% versus a year ago and a 5% increase versus September.
Visit SageRealtor.com for more information about Southwest Florida real estate.