Fort Myers home prices rise 32%

FORT MYERS — Median home prices of existing single-family homes in the Fort Myers continued climbing rapidly, rising 32.1% in June compared with the same month one year ago.

The median price of an existing single-family home rose to $185,000 in June, up from $140,000 in June 2012, according to the Realtor Association of Greater Association and the Beach.

Meanwhile, the price of an existing condo in the Fort Myers area rose 11.7% in June to $162,000 from $145,000 in the same month one year ago.

“Lack of inventory, especially below $100,000, is continuing to drive prices up as first-time buyers are competing with investors for available properties,” says Doreen Falcone, president of the association, in a statement.

As prices rose, the number of sales dipped. Realtors helped sell 1,052 single-family homes in June, down 3.8% from June 2012, and 516 condos, down 5.5% from the same month one year ago.