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FORT MYERS — The median price of an existing single-family home in Lee County rose 15% to $134,000 in December compared with the same month one year ago.
This is the 23rd consecutive month of median price increases of existing single-family homes in Lee County. Since January 2011, the median price has risen 65%, according to the Realtor Association of Greater Fort Myers and the Beach.
Meanwhile, the median condo prices surged 31% in December to $130,000 from the same month in 2011.
Realtors helped sell 916 single-family homes in December, up 6% over December 2011. They also helped sell 317 condos, a 16% increase in that period.
“The positive movement in the median price and the reduction in the number of bank-owned properties has helped our market recover,” says Doreen Falcone, president of the association. “The housing outlook for Lee County in 2013 is very positive, although local residents are challenged with low inventories and tight credit, as foreign nationals and retirees are making the market quite competitive with cash purchases.”
The association says there's a four-month supply of homes at the current sales pace.
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