The 2012 total year median price increased by 29.9 percent from $97,000 in 2011 to $126,000 in 2012, according to a report by the Realtor Association of Greater Fort Myers and the Beach, which represent all sales by members of the Florida Gulf Coast Common Data Base in Lee County.
The median price means 50 percent of prices were higher and 50 percent were lower. Average prices tend to get skewed by extremes.
Overall inventory declined 13.4 percent from 8,005 in 2011 to 6,930 units in 2012.
"The positive movement in the median price and the reduction in the number of bank-owned properties has helped our market recover," said Doreen Falcone, association president. "The housing outlook for Lee County in 2013 is very positive although local residents are challenged with low inventories and tight credit, as foreign nationals and retirees are making the market quite competitive with cash purchases."
Closed sales of single-family homes and condos were up 8.3 percent from 1,138 in 2011 to 1,233 in 2012.
Pending residential sales were down 48.7 percent from 3,689 a year ago to 1,894.
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