Lee County Sales Prices

Over the past 19 months in Lee County: sales prices are coming close to or matching list prices for single-family homes.

Since December 2007, the median monthly sales price has been within a minimum of 91 percent of the median monthly list price. In fact, that ratio has often been much higher, hitting 98.24 percent in March and 101.13 percent in April.

The trend is being driven by the explosion of "distressed properties" - foreclosures and short-sales - on the market and the fact more sellers are pricing their homes to market levels, according to Realtors. They said those homes and their bargain-basement pricing have attracted a bevy of buyers, including many investors who are able to pay in cash.

Realtors said it's become common to have multiple bids - sometimes 20 or more - for homes, especially in the price range of $100,000 or less.

Bids have begun to exceed the asking price of late as the flood of bank-owned properties that hit the market in late 2008 has been absorbed.