Cape Coral, Florida - A 2008 Mid Year Real Estate Sales Update

The mid year 2008 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 44, so the city is family oriented, schools are important, and the quality of life is exceptional.

Cape Coral Sales Data

Cape Coral Home Sales January-June 2008*:

• 1817 Closed Sales
• Average Sales Price - $216,474
• Median Sales Price - $173,000
• Average Days on Market - 91
• Price/Square Foot - $110.00

Cape Coral Condominium Sales January-June 2008*:

• 162 Closed Sales
• Average Sales Price - $170,964
• Median Sales Price - $142,000
• Average Days on Market - 145
• Price/Square Foot - $120.51

In comparison with 2007 sales data, we've seen a 59% increase in the number of home sales and a 18% increase in the number of condominium sales. The average price of homes decreased by 30% and the average price of condominiums decreased by 65%. Average days on market fell by 4% for homes and rose by 1% for condominiums. In addition, pending sales for both property types also rose substantially in the month of June and thus will help make for a good beginning to the third 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 Tarpon Point, 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.

So, if you would like to explore more of what the Cape Coral Real Estate market has to offer, please contact us at Gulf Coast Associates, Realtors® and we'll be happy to assist you.

*Sales Statistics Data from NABOR & SWFL MLS

• Rate this Post!

  Select Your Rating:

  • 5 Stars (Excellent!)
  • 4 Stars
  • 3 Stars
  • 2 Stars
  • 1 Stars (Poor)

• Share this Post

  Share With A Friend:

  Your Name Your Email

  Friend's Name Friend's Email

  Optional Message

  Send

• Print
• Social Bookmarking

  Add to Bookmarks: