Realtor association: single-family home sales soar
According to the Realtor Association of Greater Fort Myers and the Beach Inc., during March, there were 1,326 existing single-family homes sold, compared to 577 in March 2008, an increase of 130 percent. Pending sales are also up 84.2 percent year to year, with 2,019 single-family homes pending versus 1,096 a year ago.
However, the number of single-family homes listed on the MLS continued to decrease (at the end of March, there were 9,666 active listings of existing single-family residential properties compared to 11,372 a year ago, a decline of 12.3 percent). The supply of single-family homes shrunk to 4.8 months, which is less than half of what it was a year ago, when the supply was 10.4 months.
The Realtor association states in a release that while sales of existing single-family homes in March were the highest recorded for a single month in the past five years, the median price is still contracting due to the influence of bank-owned and short sale properties. During the first quarter of 2009, foreclosures represented 67 percent of the single-family properties sold at a median price of $70,857; short sale properties represented 14 percent of total sales with a median price of $119,908 and traditional properties represented 19 percent of total sales with a median price of $190,000.
The public is encouraged to visit www.FloridaGulfcoastHomesLive.com, the association’s Web site to search the comprehensive database of available properties in Southwest Florida by geographic location, price range or both.
The Realtor Association of Greater Fort Myers and the Beach Inc. is a member-based organization founded 84 years ago.