Lee and Collier County Home Market – Prices up, Sales down

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The Brown Team
RICK BROWN: (239) 322-2313 BRENDA BOOTH-BROWN: (239) 287-8834 www.TheBrownRealtyGroup.com
The Brown Team

Single-family-home prices were up, but sales were down in February in Lee and Collier counties, real estate associations reported. In Lee County, the median price of homes sold rose 23.1 percent to $153,890 in February compared to $125,000 a year earlier, according to statistics released Thursday by the Realtor Association of Greater Fort Myers and the Beach. For the same period, 886 homes were sold, down 10.7 percent from 992. Sales in February that are neither bank-owned nor short sales made up 76.6 percent of all transactions; short sale properties represented 9.8 percent and foreclosure properties were 13.6 percent of total single-family home sales in Lee County. “Buyer demand is driving up the price of available properties,” said Doreen Falcone, association president. “Our market is very competitive with 60.3 percent of single-family homes being purchased with cash. Although mortgage rates are advantageous, new home buyers are finding that prices are rising as available inventories, especially those under $200,000, are not as plentiful.” In the Naples area, the median price of an existing single-family home rose 20 percent to $260,000 in February from $216,000 a year earlier, according to statistics released by the Naples Area Board of Realtors. For the same period, the number of homes sold fell from 347 to 304, a decrease of 12 percent. Read full article: http://www.news-press.com/article/20130322/RE/303220018/Lee-Collier-county-market-homes-Prices-up-sales-down

RICK BROWN: (239) 322-2313 BRENDA BOOTH-BROWN: (239) 287-8834 www.TheBrownRealtyGroup.com

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