Lee County Homes Prices- February 2009
Prices for Lee County FL homes in February continued at below what they were a year ago, but the number sold was sharply higher, according to a report issued Monday by the Florida Association of Realtors.
In February there were approximately 97 percent more Lee County homes sold than a year earlier and Lee County sales are up 15 percent from January of 2009.
The median price of a single-family home sold with the assistance of a Realtor in February was $97,500, 54 percent less than the $211,600 it was a year earlier. But February’s price was 3 percent more than January’s $94,900.
While the inventory supply rose slightly to 6.0 months, it is still approximately half of what it was in February ‘08, when the supply of existing single family homes was 11.8 months.
A Word About Median Homes Prices: The Median is a mathematical result that indicates that one half of the group is higher and one half lower. Median price of 101 sold homes would be that price which is lower than 50 of the prices and also higher than 50 of them.
Consider the following example:
The median is 90. The average is 210. Additionally, statistics such as median and average do not account for location differences, such as offwater or waterfront, golf course location, beachfront views, or similar.