November 2008 real estate numbers for Fort Myers and Cape Coral were released recently and single family home sales in Cape Coral and Fort Myers were up 64% over last year, a trend we’ve seen repeated throughout 2008. Median sales prices for Fort Myers and Cape Coral real estate fell 53% from last year, down from $228,100 to $106,100. Statewide home sales were up only 4%, so again SW Florida real estate has been leading the state in home sales.
Condo sales in Fort Myers and Cape Coral were down 21% from last year, while statewide they were only down 8%. Statewide sales prices for condo were down 30% and condos in Cape Coral and Fort Myers were only down 20%, perhaps a reason why our sales were down. The better the pricing the more sales we are seeing in any particular market segment.