February 2014

The Realtor Association of Greater Fort Myers and the Beach released new figures for January on single family home re-sales in Lee County, Florida reflecting a 27.2% increase over January of 2013. The new sales numbers equate to a $38,500 increase in the median sales price range for single family homes. That's up to $180,000 from $141,500 last year. Condominiums median sales prices were also up by more than 20% year over year. The median is the price at which half the properties sell for more and half for less.

Lee County's prices are being pushed upward by a shrinking inventory that is down almost 4% year over year and by the…

The extensive beach renourishment and stabilization project at Pelican Landing's private 34-acre Beach Park is now completed. The $2.8 million project on Big Hickory Island widened the park's Gulf of Mexico beachfront by as much as 250 feet and included the installation of concrete king-pile groins designed to stave off future erosion.

The Beach Park, rated by Pelican Landing and Colony residents as their favorite amenity, offers a private beach experience, complete with an elevated beach house with open decks, two open-air picnic pavilions, and a large screened pavilion with a deck. Additional amenities include shower/restroom…

Naples and Ft. Myers buyers are rapidly depleting the new home construction market. From the first fiscal quarter of 2012 to the same time period in 2013, housing starts were up 47.5% and inventory of new homes fell to 1.5 months. The last fiscal quarter of 2013, the supply dropped to less than 1 month which indicates that nearly every new home was under contract or closed. Builders are seeing a one year cycle in some new construction neighborhoods and many communities are seeing a waiting list for new lots and phases to open.

Grade "A" lots that are finished and developed for new builds are continuing their decline also. In the…