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Real estate sales volume up, prices down

By Staff | Nov 25, 2008

October real estate sales in the Cape Coral-Fort Myers metro area

continue to outpace last year’s sales, but prices are still sinking.

According to a report released Monday from the Florida Association of

Realtors, sales of single-family homes rose 78 percent compared to

October 2007, while prices dropped 42 percent.

In October 2007, 405 homes were sold in the metro area with a median

sales price of $239,300, whereas 720 homes were sold last month with

a median sales price of $139,500.

Condominium sales increased as well, but the drop in condo prices was

not as dramatic as that in home sales.

At least 155 condos were sold in the metro area in October, a 48

percent increase over October 2007. The median sales price of those

sold was $185,300. That’s down five percent from October 2007’s

median price of $195,800.