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FORT MYERS -- Whether or not the trend will hold up in the long term, Fort Myers distressed sales are currently subsiding, leading to reduced sales volumes but higher prices, according to data from the Realtor Association of Greater Fort Myers and the Beach Inc.
In October, 960 homes were sold, down 4.7% from the 1,007 closings seen in the same month last year. But the median sale price climbed 10.5%, to $95,000, up from $86,000 a year ago.
It's a trend that has been ongoing throughout 2011: In six of the last seven months, home sales were down compared to last year, but the median sale price has been higher in every month since February.
The Realtor Association attributes that trend to an increase in traditional sales. Its latest data issue says traditional sales are up 5.7% over the year, to a 46.5% share of all October home sales.
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