The latest real estate numbers are out...and they show Southwest Florida home prices increased last month. But the number of homes sold dropped--again. The median Naples home price inched up to 505-thousand dollars and in Lee County it was 281-thousand dollars. Both slight increases from the month before. The median is the price where half the homes sell above that amount and half below. But more telling is a drop in the number of homes sold annually. A 31-percent decline in Collier and a 29-percent drop in Fort Myers. It’s the second straight month of a double-digit dip in Collier. The Florida Association of Realtors says rising mortgage rates and more homes on the market are to blame. Homes are also staying on the market longer and sellers have reduced prices and offered incentives to lure buyers. Despite the uncertainty of the real estate market, home prices are still about 20-percent higher than last year.
Wednesday, 26 April 2006 01:00