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Home sales continue to rise in the greater Fort Myers area

By Staff | Jul 13, 2009

Members of the Realtor Association of Greater Fort Myers and the Beach Inc. in June sold 1,586 homes, which is 121 percent more home sales than in June of last year, contributing to the area’s year-to-date sales increase of 116 percent.
Of these June sales, 56.5 percent of the homes were bank-owned; 15.5 percent of the homes were short sales and the remaining “traditional” sales made up 23.9 percent, according to the association.
In addition to an increase in existing home sales in the Greater Fort Myers Area, there is a startling change to the number of homes currently available for purchase through the MLS. There are 7,239 single-family homes currently listed in the MLS, a number that is 5,009 (40.9 percent) less than this time last year. This inventory level reflects a 3.5-month supply at the current pace of sales, which is down significantly from the 8.9-month supply recorded in June of last year.
Bank-owned and short sale home sales have had a dramatic influence on the Greater Fort Myers Area reported median price. The median price of all homes sold in June is $83,000 (a 47.5 percent decrease compared to June 2008); however, year-to-date, the median price for “traditional” sales is $175,000, $69,000 for bank-owned properties and $105,000 for short sales.
The Realtor Association of Greater Fort Myers and the Beach Inc. is a member-based organization founded 85 years ago. As a Community of Realtor Excellence, the association is dedicated to serving current and future property owners as we believe that home ownership is the essence of a great community.