Fort Myers home prices spike

FORT MYERS — The median price of existing single-family homes in the Fort Myers area rose nearly 31% in January compared with the same month a year ago, driven by fewer distressed sales.

The median price of an existing single-family home in the Fort Myers area in January was $106,000 compared with $81,000 in January 2011, according to the Realtor Association of Greater Fort Myers and the Beach.

As prices rose, sales declined. Realtors reported sales of existing single-family homes fell nearly 17% to 863 in January compared with the same month in 2011. Of the January sales, 52.8% were conventional sales and the remainder were short sales or bank-owned properties.

Meanwhile, the inventory of existing single-family homes for sale in the Fort Myers area declined by 31% over the year to 4,678 in January. That's less than six months of supply at the current sales pace.