Home-price surge continues in Lee

FORT MYERS — The surge in existing-home prices in the Fort Myers area continued into January, defying expert forecasts of slower appreciation.

The median sale price of an existing single-family home in Lee County rose 27% in January to $180,000 compared with the same month a year ago. The median price of an existing condo rose 21% to $164,950 in the same period, according to the Realtor Association of Greater Fort Myers and the Beach.

“The median price in Lee County is being driven upward due to the increase in sales within the $200,000 to $400,000 range, both for single family as well as condo properties,” says Karen Swanbeck, president of the association, in a statement.

The condo market experienced a surge in sales in January. According to the association, Realtors helped sell 434 existing condos in January, a 21% jump over the same month in 2013. Existing single-family home sales fell a modest 3.7% to 745 homes in the same period, a reflection of rising prices and shrinking inventory of homes listed for sale.