Fort Myers home price increases are moderate

FORT MYERS — The median price of an existing single-family home in the Fort Myers area moderated in September to single-digit annual percentage growth.

The median price of an existing single-family home in the Fort Myers area rose 3.9% to $175,000 in September compared with September 2013, according to the Realtor Association of Greater Fort Myers and the Beach.

Over the last few years, the median price of an existing single-family home in the Fort Myers area has been rising at a double-digit annual percentage clip of as much as 20% or more. Now that bargain-priced foreclosures represent a small segment of the market, price increases have slowed.

The growth in prices appears to continue in the Fort Myers-area condo market, however. The association reported the median price of an existing condo rose 10% in September to $170,500 compared with the same month one year ago.

Despite shrinking inventory of homes available for sale, Realtors helped sell 965 existing single-family homes in September, an increase of 2.4% over the same month in 2013. They also helped sell 448 condos, a 3.7% increase over the same period.