Breaking Fort Myers Housing Market - May 2024 Update! | Adrian Waring

Welcome to the latest update on the Fort Myers real estate market! I'm Adrian Waring from Priceless Realty, and today, I'll be your guide through the key insights and trends from May 2024. As the data rolls in, it's time to dissect what's been happening in the housing scene of Fort Myers.
Compared to last year, the median sales price has shown a slight increase, now standing at 4.63.750. This shift doesn't necessarily mean a general price hike, as it might indicate that some higher-value homes have been recently sold, potentially skewing the numbers a bit. However, compared to May 2023, prices have decreased by approximately 9%, with the median price at 507,500. This market contrast is palpable, signaling a different scenario from what we experienced a year ago.
The closed sales, totaling 388, have slightly increased compared to the previous year. However, the standout difference lies in the number of homes currently available for sale. The active inventory, as of now, shows 1,769 single-family homes, marking a significant 54% increase from last year. Despite the marginal increase in closed sales, the rise in inventory suggests a sluggish market, favoring potential buyers.
With more properties staying longer on the market and a considerably higher median price, we've transitioned into a buyer's market. If you have any questions or need expert guidance navigating the Fort Myers real estate landscape, feel free to reach out. Stay tuned for more insightful updates, and don't forget to like, subscribe, and hit the notification bell for the latest real estate trends!
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