July 2014 Press Release & Market Indicators

August 25, 2014
Author: Ft.Myers Board of Realtors

In Lee County, 1,042 single family homes sales were completed in July 2014 compared to
1,005 in July 2013, an increase of 3.7 percent.

Foreclosure sales have increased
slightly compared to this time last year, but still only amount to only 20 percent of
properties sold in July 2014.

Current inventory combined with the current pace of sales created a 4.9-­month supply
of single family homes in Lee County for July. There was a 5-­month supply in July 2013,
which indicates a sellers’ market.

“The benchmark for a balanced market (favoring neither buyer nor seller) is 5.5 months
of inventory”,said Association President Karen Swanbeck. “If you are considering selling
a home in Lee County, the market indicates that now is a good time to do so”.

Lee County’s housing market also showed positive year-­?over-­?year movement in median
price in July. The median price for single family homes was $179,000, an increase of
$16,900 or 10.4 percent compared to July 2013.