August 2008 Real Estate Market has shown continued price declines for Fort Myers, Florida. Although there were a spike in 1st Quarter sales the ongoing sales volume remains low. No attempt was made to verify the data for possible seller concessions or fraud. These Market trends taken from Rapattoni MLS and includes all sales occurring in Fort Myers, FL from 8/1/2004 through 8/31/2008.
This chart show the increase in market activity through 2nd Quarter 2005, followed by increasing values @$/Sq.Ft. of living space. With the collapse of sales volume 3rd Quarter 2005 the sales prices began trending downward. Currently sales levels are at or below average 2004 sales prices.
Increasing Days on Market are observed and are currently average 3-4 months.
Increase unemployment rates suggest that this picture may get worse before it gets better. The good news is that prices are becoming affordable again for those who do have jobs. Maybe the need for Affordable Housing programs will be a story from our distant past.
More information is available on request.