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FORT MYERS — The median price of a single-family home in the Fort Myers area rose 29% in March compared with the same month one year ago, further indication that the residential real estate market is recovering.
The median price of a single-family home rose to $168,000 in March, up 29% from the $130,000 in March 2012, according to the Realtor Association of Greater Fort Myers and the Beach.
“Sales activity in March reflects that seasonal visitors and local residents are competing for available properties,” says Doreen Falcone, president of the association, in a statement.
The dwindling supply of homes for sale resulted in 9% fewer single-family home sales in March compared with March 2012. Realtors helped sell 1,123 single-family homes in March compared with 1,235 in the same month in 2012.
Traditional sales made up a greater percentage of home sales as home prices recovered ground lost during the recession. For example, foreclosure sales fell nearly 35% in March compared with the same month last year.
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