Cape Coral Real Estate Sales - January to March 2008
Posted by Benjamin Dona on Sunday, May 18th, 2008 at 4:49pm.
The January thru March Cape Coral real estate market statistics for both homes and condominium sales are listed below. Cape Coral, known as the "The Cape," is one of the largest master-planned communities in the nation. The city features 400 miles of fresh and salt water canals - most with gulf access, wide-ranging waterfront sports and community activities. Cape Coral is the 3rd largest city in Florida in terms of land mass with nearly 115 square miles of residential and commercial space. Over 55% of its population is under the age of 44, so the city is family oriented, schools are important, and the quality of life is truly exceptional.
Cape Coral Sales Data
Cape Coral Home Sales Jan-Mar 2008*:
- 615 Closed Sales
- Average Sales Price - $238,048
- Median Sales Price - $205,000
- Average Days on Market - 99
- Price/Sq. Foot - $120.34
Cape Coral Condominium Sales Jan-Mar 2008*:
- 77 Closed Sales
- Average Sales Price - $175,897
- Median Sales Price - $137,750
- Average Days on Market - 151
- Price/Sq. Foot - $122.70
In comparison with 2007 sales data, we've seen a 14% increase in the number of home sales and a 22% increase in the number of condominium sales. The average price of homes decreased by 24% and the average price of condominiums decreased by 27%. Average days on market rose by 3% for homes and fell by 7% for condominiums. In addition, pending sales for both property types also rose 150% in the month of April and thus will help make for a good beginning to the second quarter sales numbers.
Like most cities in Florida, Cape Coral has an excess of inventory. The upside is that buyers have a wide variety of homes or condominiums from which to choose and in many of its more well known communities like Cape Harbour and Cape Royal, there are some really well priced properties available. The city offers a wide variety of living options and price ranges. For example, there are well over 400 condominiums and 2,000 homes currently on the market for under $250K.
*Sales Statistics Data from NABOR & SWFL MLS
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