The median price of an existing single-family home in the Fort Myers area rose nearly 11% in August as the number of listings shrank further.
The median price of an existing single-family home rose 10.6% in August to $182,500 compared with the same month one year ago. Meanwhile, the median price of an existing condo rose 9.2% to $160,000 in the same period, according to the Realtor Association of Greater Fort Myers and the Beach.
“The rise in median-sale prices is inline with the upward statewide trend, but our supply of inventory is slightly less,” says Karen Swanbeck, president of the association. “We expect to see more active listings and increase in inventory once our seasonal residents begin returning to Southwest Florida in the next four to six weeks.”
The inventory of existing single-family homes in the Fort Myers shrank to 4.9 months at the current sales pace.