Local home prices down nearly 60 percent

Feb 25, 2009 1 min read

The median sales price of an existing single-family home in the Cape

Coral-Fort Myers metro area fell to $94,900 in January, down 59

percent from the January 2008 median sale price of $234,000,

according to a report released today from the Florida Association of

Realtors.

The $94,900 figure is the lowest among 20 Florida metro areas, and

the 59 percent decrease is the second-largest year-over-year decline.

Marco Island saw a 62 percent drop from January 2008, as its median

sales price went from $529,500 to $200,000.

Punta Gorda’s median sales price was the only other Florida metro

area to dip below the $100,000 mark for January, standing at $99,500.