Home resales rose more than 80 percent in August in the Fort Myers area
Fort Myers area Realtors sold more homes in the first eight months of this year than they did in all of 2005.
Members of the Realtor Association of Greater Fort Myers and the Beach Inc. sold 13.6 percent more homes from January to August than they did in the height of the market four years ago.
In 2005, a total of 9,842 homes sold. This year, through August, Realtors in the Fort Myers area sold 11,178 single-family homes, according to a report by the Fort Myers Realtor association.
Sales were up 80.7 percent in August, compared to the same month a year ago. Year to date, sales are up 124.9 percent, compared to the same months a year ago.
Realtors sold 1,317 single-family homes in August. More than 54 percent of them were bank owned, 18.6 percent were short sales and the rest were “conventional” sales.
Pending sales rose 51.5 percent to 1,752 last month. There were 1,157 in August 2008.
The median sales price _ the price at which half the homes sell for more and half for less _ stood at $82,300 last month. That’s down 39 percent from a year ago, when it was $134,900.
Foreclosures continues to drag down the median price.
The inventory of homes continues to shrink. There were 6,777 single-family homes listed in the multiple listing service for the Fort Myers Realtor association. The supply has decreased by 4,320 homes from August 2008.
The Realtor association estimates there is now a four-month supply of single-family homes on the market. At the beginning of this year, there was a nearly nine-month supply.
“We believe that the brisk pace of home sales will continue through the fall as only 11 weeks remain for first-time home buyers to make a purchase and take advantage of the up to $8,000 in tax credits that are available,” said Suzanne Sherer, the association’s president, in a statement. “Buyers should be preapproved, realistic in making their best offer first as inventories are low due to affordability, low mortgage rates and competition from investors in this market.”
You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
