Fort Myers homes for sale are reaching near record inventory levels with falling prices as the housing market recovers from a three-year decline in sales with an increase in home sales.
FORT MYERS, Fla., May 19, 2025 /PRNewswire-PRWeb/ -- Fort Myers homes for sale can be easily searched online to see how much the prices are falling on FortMyersAgent.com. Housing prices are declining, and home sales are picking up in Fort Myers, where there is a huge surplus of inventory of homes and condos on the market.
The decline in prices is positive for buyers looking for a home in the region, which saw home prices increase for 10 straight years and dramatically jump at double digit rates during the Covid pandemic. The bloated inventory of homes has dramatically transformed the marketplace.
Home sales rose two straight months in March and April, nearly 50% over February. However, the condominium market in South Florida is still struggling through a major crash, which provides consumers with one of the best markets in years to make a condo purchase.
There are a series of issues potential buyers need to be aware of if they are considering the purchase of a condo, including higher condo association fees. Check out FortMyersAgent.com for insight into the condo market for the latest real estate news on the condo crash.
Fort Myers homes for sale are updated hourly on FortMyersAgent.com, which offers more than 17,000 listings in the region, including Fort Myers, Fort Myers Beach, Cape Coral, North Fort Myers and Naples.
Home sales declined for three straight years until March when sales picked up in the spring market. Triggered by record low mortgage rates, home and condo prices soared during the pandemic as new residents flocked to the area from Northern states being able to work from home for their employers and live in the Sunshine State. Fort Myers is one of the more affordable cities to live in in Florida now.
Fort Myers home values peaked in October 2022 when the median price reached $359,500, according to MLS data. The increase is like many other areas of the country, especially warmer coastal climates where the demand for housing is high.
In April the median home price declined to $339,00. Higher priced areas in Lee County have seen even larger price drops, including Fort Myers Beach, where some homes have sold for 40 to 50% less than their original asking prices.
Mortgage interest rates fell to historic lows during the COVID pandemic, falling below 3% in 2020 due to emergency actions by the Federal Reserve. As inflation surged in 2022, the Fed raised their discount cost of borrowing, pushing mortgage rates to their highest levels in 20 years.
The current stabilization in mortgage rates increases homebuyers purchasing power and should provide a strong incentive to make home and condo purchases for many more home buyers. Fort Myers is a growing community and a destination for resort buyers, who purchase condos and homes as vacation destinations along its scenic waterfronts. More businesses have opened shop in the area, which also contributes to more year-round residents.
FortMyersAgent.com provides easy access to search Fort Myers homes for sale, and provides real estate news on the Fort Myers, Fort Myers Beach, Cape Coral and Naples markets, publishing the Fort Myers Agent newsletter monthly to keep readers up to date on the real estate market.
Media Contact
Mike Colpitts, RealtyOne MVP Group, 1 1239 3792552, [email protected], https://fortmyersagent.com
SOURCE FortMyersAgent.com
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