Sales Drop in December, Active Listings Still On the Rise FOR IMMEDIATE RELEASE (Fort Myers, FL – January 23, 2017) – The end of 2016 saw a drop in closed sales, but a continued uptick in active listings. The latest statistics from Florida Realtors® reveals houses sat on the market longer and our inventory is up from December 2015 to December 2016. Closed Sales were down for both Single Family Homes (5.5%) and Condos (10.3%) last month. The biggest drops in Closed Sales were seen in North Fort Myers and Cape Coral. Fort Myers, Lehigh Acres, and Sanibel/Captiva sales also dropped. Median Sale Price continues to climb year-over-year. In December 2016, the Median Sale Price for a Single Family Home was $249,900, compared to $230,000 in 2015. Median Condo Sale Prices were up about 2.5% The number of Active Listings took a big leap from year to year. Last month, there were 5,463 Single Family Home listings – an 11.4% increase. There was a 37.5% jump in the number of Condo listings, going from 2,371 to 3,259 in just 12 months. The Months Supply of Inventory for Single Family Homes sits at 5.2 months right now. Houses took longer last month to get to the contract phase than they did the year before. Median Time to Contract in December was up to 58 days, a 29% increase from 2015 (45 days).