Fort Myers Beach Mid-Year 2024 Market Report

Fort Myers Beach has been in recovery and rebuilding mode since Hurricane Ian hit with devastating effect in September 2022, as is still evident when driving through FMB.
“Every street on the island has a house that’s either been erected or is being erected, with many more permits in place to go to build,” said Mayor Allers.
This amount of growth reflects itself in (assessed) property values. They’ve increased nearly 50%, which is much higher than the county average of a 5.86% increase.
“We were obviously excited to see that number, it gets us closer back to where we were before the storm,” said Allers. “We’re still not all the way there yet, but it’s a testament to our aggressive (attitude) in getting people in their houses with their permits and getting businesses back open.”
The chart below shows the median price of the properties that have sold, bearing in mind that these range from fully renovated properties to those being sold “as is.”

The median Price per Sq.Ft.(PSF) has decreased since Ian, reflecting the mix of renovated and as is sales. (more…)