The Real Deal Miami

Lee County has nation’s highest foreclosure rate

March 31, 2008 12:57PM

While the Cape Coral-Fort Myers metro area had the highest rate of foreclosures nationwide in February, according to research firm RealtyTrac, major price cuts keep houses selling. Lee County, which includes Fort Myers and Cape Coral, saw a 17 percent drop in median home price in February from a year earlier, to $211,900. However the number of sales of existing single-family homes in the county remained at 445 in February compared to last year, and condo sales actually increased 19 percent to 181.