Exciting News for Real Estate

It has been an exciting year in Real Estate in the Greater Fort Myers market. Median home prices are up 32% from a year ago! There were 15,025 single family homes sold and 4,617 condo’s sold in 2011. We had 3,431 ACTIVE listings with 1278 PENDING listings – this is equal to ONLY 2.68 months of inventory. The absorption rate went from 5.6 in December 2010 to only 3.9 in December 2011 on single family homes, with a monthly absorption rate of ONLY 0.68 for foreclosure homes.