Cape Coral Real Estate Sales Update - January to June 2009

The mid year Cape Coral real estate market statistics for both homes and condominiums are listed below. Cape Coral, known as the "The Cape" to locals, is one of Southwest Florida's most rapidly growing areas. It is the 3rd largest city in Florida in terms of land mass and features over 400 miles of both fresh and salt water canals - many with gulf access.

Cape Coral Sales Data

Cape Coral Home Sales January-June 2009*:

• 3596 Closed Sales
• Average Sales Price - $129,363
• Median Sales Price - $93,850
• Average Days on Market - 72
• Average Sales Price/Square Ft. - $69.39

Cape Coral Condominium Sales January-June 2009*:

• 243 Closed Sales
• Average Sales Price - $121,630
• Median Sales Price - $94,450
• Average Days on Market - 110
• Average Sales Price/Square Ft. - $81.82

In comparison with 2008 sales data, we saw a 95% increase in the number of home sales and a 49% increase in the number of condominium sales. We also have seen a 40% decrease in the average price for homes and a 30% decrease in the average price for condominiums. Average days on market fell by 21% for homes and by 25% for condominiums.

Like many rapidly growing cities in Florida, Cape Coral participated heavily in the speculative building boom in 2005 and 2006. As a result, the current market is suffering from a having a large number of foreclosures and short sales. The upside is that buyers have a wide variety of homes or condominiums from which to choose - many at prices not seen in years. And, in some of its more sought after communities like Cape Harbour and Tarpon Point, there are some really well priced properties available.

So, if you would like to explore more of what the Cape Coral real estate market has to offer, please contact us and we'd be happy to assist you.

*Sales Data Statistics from SWFL and NABOR MLS