UPI reports that seven of the top ten markets with real estate price increases this year are in Florida. Median prices in the Fort Myers market for August where up a whopping 33% over August 2010.
A key driver leading to median price increases is the dramatic reduction in the inventory of homes listed for sale in the Fort Myers market. Inventory levels are down 41% over the past year, mainly attributed to the decrease in bank-owned foreclosures coming on the market.
If you are considering a second home in the Fort Myers area, there still are opportunities to participate while prices are near the bottom. Here is a resource which offers all the inventory of active Southwest Florida foreclosures categorized by both geography as well as lifestyle options.
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