Real estate sales volume up, prices down
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.