(Fort Myers, FL – November 21, 2017) – After a very dramatic shift in housing statistics in the month immediately following Hurricane Irma, the Lee County market had a much better month in October.
Closed Sales were still down for Single Family Homes in October, but not as dramatically as the month before. Year-over-year, Closed Sales were down 9.5%. Condo sales were up last month by 9.1%.
The number of Active Listings and New Pending Sales also dipped year-over-year. Active Listings for Single Family Homes were down 4.2% while Condos dropped 1.6%. New Pending Sales fell 3.5% for Single Family, and actually increased 3.1% for Condos.
Listings still sat on the market for longer last month, with a Median Time to Contract of 61 days, compared to 54 days in 2016 – a change of 13%.
Broken down by city, North Fort Myers saw the biggest drop in Closed Sales – down 40.4% – while Sanibel/Captiva had the biggest jump of 40%. Fort Myers Beach homes are selling for more – with an 87.6% jump from the same time last year. Sanibel/Captiva prices also jumped – 57.7% year-over-year.
When looking at price point, Condo sales in the $250,000-$299,999 and $300,000- $399,999 ranges were up 37.1% and 33.3% respectively. The biggest drops were in Single Family Homes between $50,000-$99,999 and $100,000-$149,999.
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Source: Royal Palm Coast Association of Realtors Cape Coral • Fort Myers • South Service Center | P: (239) 936-3537 | F: (239) 936-2836 | rpcra.org
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