Home prices rise, sales fall

FORT MYERS — The median price of an existing single-family home in the Fort Myers area surged 25% in June, but the number of sales fell nearly 22% compared with the same month one year ago.

June's median price for an existing single-family home was $127,000, the 17th consecutive month of year-over-year gains, according to the Realtor Association of Greater Fort Myers and the Beach.

All types of transactions experienced gains in the second quarter compared with the first quarter, the association reported. For example, the median price of short sales gained 14% and the median price of foreclosures rose 8%. Traditional home sales notched median-price gains of 3.3%.

June's 1,008 existing single-family home sales represented a drop of nearly 22% compared with the same month a year ago as prices rose and inventories declined.