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FORT MYERS — Distressed sales — that is, foreclosure and short sale transactions — are lessening in the Fort Myers real estate market, helping boost prices across the market.
Traditional sales made up 52.3% of all real estate market activity in June, according to the Realtor Association of Greater Fort Myers. The median price for traditional sales was $148,000, compared to $84,000 for short sales, and $69,900 for foreclosures.
Overall, the median sale price for the month in Fort Myers was $101,500, up more than 9% from last year's median of $93,000. The median single family-home sale price has now been above $100,000 in Fort Myers for three consecutive months.
The number of homes sold is down 8% over the year, to 1,233 properties. But sales in June 2010 were boosted by the federal government's tax credit program for first-time homebuyers.
Single family-home inventory now stands at approximately 4,600 units, the Realtor Association says, representing a supply of roughly four months.
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