Fort Myers Real Estate Prices Up!

Lee County (Fort Myers area), home prices have been down for so long, it seems that “up” to us

Local home prices were the opposite of the state as a whole, and a long, painful slide in housing is to blame.

In October, the average price of existing single-family homes increased by 15 percent a year earlier, from $ 89,100 to $ 102.100, according to statistics released Monday by Realtors in Florida. The number of sales fell 6 percent in 1002 to 938.

Florida as a whole, but was down 4 percent at a price of $ 136,600 to $ 131.200, while the number of sales increased 13 percent.

Of the 19 metropolitan areas in the state, Tallahassee was the only other place to see the fall in sales.

“Prices have fallen so much out there (Southwest Florida),” said Jack McCabe, a Deerfield Beach real estate consultant-based real tracks that have markets at home on both coasts of Florida. “Exceeded prices can correct, increasing more than other markets in Florida. It is not surprising to see them up some. We can say that it was extremely underestimated.”

Meanwhile, in a separate report also released Monday by the National Association of Realtors, home sales rose 1.4 percent nationwide last month to a seasonally adjusted annual rate of 4.97 million euros.

There were 440 foreclosures sold in October compared with October 1156 in 2010, according to Southwest Florida Investment Real Estate Association.

But he said: “We still have a lot of investors in the market” because they can buy a $ 80,000 house, rent it for $ 850 per month and “keep it until it’s worth.”

Brett Ellis, director of Ellis Team with Re / Max Realty Group in Fort Myers, said it was hard to read the numbers and predict what will happen next.

“I can not decide whether it is” Happy Thanksgiving “or” Trick or Treat, “he said, noting that the inventory of unsold homes in the county have increased somewhat recently and is now around 7600.

One problem is that federal regulations make it difficult  for people to finance home purchases, even though investors are still good, said Ellis.

There will be no shortage of foreclosed homes back on the market next year, he said. “I have too many banks to tell me that there is more to come.”

The results of the entire state of Florida brokers include the Naples Area Board of Realtors, but the board does not allow these numbers are published.

In a separate report, the board said it showed 507 sales in October 2011 compared with 471 the previous year. Courtesy of the Fort Myers News Press.