Falling Prices - 53% Price Decline In Fort Myers
LABELLE, FL. -- Statistics released by the Florida Association of REALTORS® on November 2008 sales of existing homes indicate that home sales were up overall statewide and existing condominium sales were down overall statewide, but median prices overall still showing a downward trend especially in Lee county.
Existing home sales in Florida for November 2008 versus November 2007 were up 4% statewide with median sales prices down 27%, although some areas experienced significant differences. Existing home sales in Marco Island were up 79% with median sales price down 48% and home sales in Fort Myers were up 64% with median sales price down 53%, while existing home sales in Gainesville were down 41% with median sales price down 21%.
Existing condo sales in Florida for November 2008 were down 8% statewide compared to November 2007, with median prices down 30% statewide, although Ocala showed existing condo sales up 50% with median prices down 12%. Tallahassee showed condo sales down 86% with median sales prices down 27%, and Gainesville showed sales down 61% with median sales prices down 9% compared to November 2007.