Home prices jump

FORT MYERS — The median price of an existing single-family home in the Fort Myers area continued to surge in July compared with the same month a year ago because of fewer foreclosures.

The median price of an existing single-family home in the Fort Myers area rose 31% in July to $129,900 compared with the same month in 2011, according to the Realtor Association of Greater Fort Myers and the Beach.

In July, 33.2% of the total existing single-family homes sold were foreclosures or short sales. In July 2011, that percentage was 49.4%.

As prices increased, the number of sales of existing single-family homes sold in July fell nearly 12% to 897 compared with July 2011. The number of existing single-family homes on the market today totals 4,029, a 43% drop from the same month a year ago.