Home-price increase slows in Lee

FORT MYERS — The median sale price of an existing single-family home in the Fort Myers area rose at a slower pace in April than one year ago as the number foreclosures and short sales dwindled.

The median sale price of an existing single-family home rose 8.1% to $200,000 in April compared with the same month one year ago. In April 2013, the median price of an existing single-family home rose 30% compared with April 2012, according to the Realtor Association of Greater Fort Myers and the Beach.

“As home values continue to increase, the market in Lee County has become more challenging to both first-time homebuyers and investors alike,” says Karen Swanbeck, president of the association, in a statement. “Investors are finding that market conditions are not as enticing as in past years.”

Realtors helped sell fewer homes in April as inventory remained low and homes sold more quickly. The association reported Realtors helped sell 1,191 existing single-family homes in April, down 0.5% from the same month in 2013.

Meanwhile, the median sale price of an existing condo in April rose 13.3% to $170,000. Realtors helped sell 750 existing condos in April down 4% from the same month one year ago.