The median price for single-family homes in Lee County hit a new milestone in April 2014 by reaching $200,000, an 8.1 percent increase when compared to April 2013 and a $15,000 increase from March 2014, according to a report from the Realtor Association of Greater Fort Myers and the Beach.
The median price of condos hit $170,000, up 13.3 percent when compared to April 2014 and an $8,000 increase month-to-month, the report said.
The association notes that traditional properties and short sale properties both experienced positive movement in median price during April traditional properties were up 6.0 percent and short sale properties were up 59.3 percent when compared to April 2013; however, foreclosure properties showed a decrease of 0.3 percent, or $250, when comparing the median price to the prior year.
In April 2014, the sale of 1,191 existing single-family homes were completed in Lee County, an increase of 11.5 percent compared to March 2014 and a decrease of 0.5 percent compared to April 2013.
Traditional properties continued to grow as a percentage of total single-family home sales, the association said. Traditional properties represented 81.3 percent, short sales were 3.9 percent and foreclosures 14.8 percent of single family home sales in April 2014. Last year, these numbers were 79.0 percent, 9.2 percent and 11.8 percent respectively.
Pending single-family home sales those under contract and awaiting closing are currently at 1,521. The number of pending sales in April 2014 is 0.9 percent above those in April 2013 (1,508) and 1.6 percent lower than it was in March 2014 (1,545).
The number of existing single family home sales that were available for purchase in April 2014 is 2.2 percent above that of April 2013 and now rests at 5,802. Inventory decreased in number by 408 properties month to month.
Single family homes of all types spent a median 48 days on market before coming under contract in April 2014, and the average home sold for 92.1 percent of its listing price. In April 2013 those numbers were 59 days and 93.7 percent, respectively.
Current inventory combined with the current pace of sales created a 5.9-month supply of homes in Lee County for April. There was a 5.8-month supply in April 2013 and a 6.3-month supply last month
The numbers reported by the Realtor Association of Greater Fort Myers and the Beach represent all sales by members of Florida Realtors in Lee County. Statistics released each month may be revised in the future as new data is released.
The association office is at 2840 Winkler Ave., Fort Myers. For more information, call 239-936-3537 or visit GreaterFortMyersRealtors.com