Home prices rise

FORT MYERS — Prices for existing single-family homes in May rose 24% to $132,000 in the Fort Myers area compared with the same month in 2011.

Meanwhile, the number of sales of existing single-family homes in the Fort Myers area fell 10% in May to 1,097, according to the Realtor Association of Greater Fort Myers and the Beach.

Conventional home sales in May accounted for 66% of the transactions in May. The remaining sales were either short sales or foreclosures, the association reported. In May 2011, 55% of sales were conventional.

Homes of all types spent an average of 57 days on the market before going under contract in May compared with 73 days in May 2011. The number of homes for sale in the Fort Myers area in May dropped 47% to 3,399 compared with the same month one year ago.