by Mike Colpitts 
Home sales in the Fort Myers area fell slightly during the month of June as buyers took time off for vacation and the normal summer seasonal slowdown worked into place.
The decline in home sales came after three consecutive months of sale increases. Some 1,572 homes, condos and townhouses were sold during the month, according to data from the local MLS. There were 1,760 home sales in re-adjusted numbers during the month of May.
However, the market has seen a sharp increase in condominium sales, which had been suffering since new laws were put into effect by the state legislature forcing condo associations to upgrade old infrastructure. Florida Governor Ron DeSantis signed a new law that went into effect July 1, allowing condo associations more time to come up with a plan to make the required improvements.
Home Sales Fall Expected
The decline in home sales had been expected by many real estate insiders after three months of improved sales. The market is being impacted by higher mortgage rates than had been in effect for more than a decade. The Federal Reserve started increasing its benchmark lending rate nearly three years ago, triggering a slowdown in the nation’s housing markets.
The volume of sales in Lee County, which includes Fort Myers, Cape Coral, Fort Myers Beach and North Fort Myers declined as the prices on homes sold continued to decline. Fort Myers has one of the most affordable housing markets in the state of Florida.
Home prices peaked in the Fort Myers area five months before Hurricane Ian hit the region in September 2022.
The drop in home prices has triggered a return to a healthy level of residential sales, with nearly a 50% increase in single family home, manufactured home and townhouse sales since its downturn. Home prices in the region peaked in October 2022 when the median price reached $359,500 in Fort Myers, according to MLS data.
Interest Rates also Fall Slightly
“The average 30-year fixed-rate mortgage decreased for the fifth consecutive week,” said Freddie Mac Chief Economist Sam Khater. “This is the largest weekly decline since early March. Declining mortgage rates are encouraging and, while overall affordability challenges remain, we are seeing more sellers enter the market giving prospective buyers an advantage.”
The 30 year fixed rate mortgage averaged 6.67% as of July 3, 2025, down from the prior week when it averaged 6.77%. A year ago at this time, the 30-year FRM averaged 6.95%.
The drop in rates is a strong sign for the housing market as it moves towards more solid footing in the Fort Myers area, with one of the best local economies in the state of Florida.