As real estate professionals, we want to provide you with accurate and useful information about the current state of the real estate market. By analyzing the data provided, we can see a correlation between the months supply of inventory, the 12-month change in months of inventory, median days homes are on the market, list to sold price percentage, and median sold price. Below is your Cape Coral real estate mid year market update!
*Note* data is from all residential sales (single-family, condos, townhomes, and apartments).
Months Supply of Inventory
Firstly, the months supply of inventory is a measure of how long it would take for all the current homes on the market to sell, given the current rate of sales. In this case, the months supply of inventory is 4.16, which means that if no new homes were listed on the market, it would take just over 4 months for all the current homes to sell.
However, it’s important to note that the 12-month change in months of inventory has increased by 166.67%. This indicates that there are more homes on the market now than there were a year ago, which is affecting the supply and demand balance.
Median Days on Market
Meanwhile, the median days homes are on the market is 34, which is relatively low. This suggests that homes are selling relatively quickly, despite the increase in supply.
List to Sold Price Percentage
Additionally, the list to sold price percentage is 97.5%, which means that homes are selling for a price that is very close to the list price. This is good news for sellers, as it suggests that they are pricing their homes accurately and buyers are willing to pay the asking price.
Median Sold Price
Finally, the median sold price is $415,000. This figure gives us an idea of the average price of homes that are selling in the current market.
In summary, while there has been an increase in the supply of homes on the market, they are still selling relatively quickly and for close to the asking price. The median sold price is also relatively high, which suggests that the market is strong. This information can be useful for both buyers and sellers in making informed decisions about their real estate needs.
Regional Economic Indicators
Source: Florida Gulf Coast University. Read more here: https://www.fgcu.edu/cob/reri/dashboard/
New Developments in Cape Coral Real Estate
The gated community offers one- and two-story single-family homes ranging from approximately 1,670 to 2,767 square feet of living space. Planned amenities at Stonewater include a resort-style pool, fitness center, tennis, pickleball and a playground.
At 1339 Cape Coral Parkway in Big John’s Plaza, Stones Throw has something for everyone! It’s open from 3 to 9 p.m. Tuesdays through Fridays, 3 to 10 p.m. weekends.
“After the storm every single building suffered more than 50% damage, because of the 50% rule we have to rebuild to the current building codes and current elevation,” said Cape Coral District 3 Council Member Tom Hayden.
Proposed land-use change for northeast Cape Coral parcel would allow 402-unit multifamily development
The Cape Coral Planning and Zoning Commission recommended approval Wednesday for a privately initiated future land-use amendment for 25 acres of a 50-acre property at the northeast corner of Del Prado Boulevard and De Navarra Parkway.
Featured Listing in Cape Coral Real Estate
Brand new construction! This gorgeous home offers 4 bedrooms, 2 baths and 1691 sq ft. of living space. The kitchen features granite countertops, stainless steel appliances, 42-inch cabinets with soft-close drawers, and a large kitchen bar with plenty of counter space. The primary bathroom includes double sinks, granite countertops, a tiled shower, and a large walk-in closet. The second bathroom also includes granite countertops and a tiled shower/tub combo. This home also comes with a 3-car garage which will give you plenty of space to keep your vehicles and more. Other features include tile throughout, vaulted ceilings, a screened-in lanai, tons of storage space, and hurricane-impact doors and windows. This property is on city water, sewer, and irrigation. The home is beautifully landscaped with a sprinkler system already installed. Washer & dryer included. No HOA. No flood insurance is required.
*Note* We have several different new construction homes coming up for sale! Contact us for more information.