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Cape Coral and Fort Myers Real Estate - 2011 End of Year Sales Review

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TCape Coral and Fort Myers Real Estate - 2011 End of Year Sales Reviewhe 2011 end of year Cape Coral and Fort Myers real estate market statistics for both home and condominium sales are listed below.

Cape Coral, known as "The Cape," is a boater's and fisherman's paradise and offers almost 200 miles of salt water canals with Gulf access. It 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 Real Estate Sales Data

  • Total Sales of 5,943 versus 6,491 in 2010 - down 9%.
  • 5,348 Homes Sold versus 5,988 in 2010 - down 12%.
  • Average Sales Price for Homes - $142,504 - up 10%
  • Median Sales Price for Homes - $104,225 - up 10%.
  • Average Days on Market for Homes was 85 versus 149 in 2010.
  • 595 Condos Sold versus 503 in 2010 - up 18%.
  • Average Sales Price for Condos - $120,610 - up 27%
  • Median Sales Price for Condos - $82,500 - up 9%.
  • Average Days on Market for Condos was 102 versus 128 in 2010.

At the end of the December, there were 1,760 active residential properties listed in the Cape Coral MLS. That's a decrease of 23% versus this time last year.

Cape Coral Closed Property Sales 2009 - 2011

Cape Coral Closed Property Sales 2009 - 2011

Ft. Myers is called the "City of Palms." It is a metropolis bustling with historical, cultural, and ecological attractions and is now a blend of both young and old alike. The city sits along the natural splendor and shoreline of the Caloosahatchee River and is nestled around the historic downtown city center.

Fort Myers Real Estate Sales Data

  • Total Sales of 4,360 versus 4,263 in 2010 - up 2%.
  • 2,273 Homes Sold versus 2,087 in 2010 - up 7%.
  • Average Sales Price for Homes - $218,353 - up 6%
  • Median Sales Price for Homes - $163,000 - up 4%.
  • Average Days on Market for Homes was 105 versus 101 in 2010.
  • 2,087 Condos Sold versus 2,176 in 2010 - down 4%.
  • Average Sales Price for Condos - $121,517 - up 10%
  • Median Sales Price for Condos - $99,000 - up 10%.
  • Average Days on Market for Condos was 104 versus 103 in 2010.

At the end of the December, there were 2,364 active residential properties listed in the Fort Myers MLS. That's a decrease of 31% versus this time last year.

Fort Myers Closed Property Sales 2009 - 2011

Fort Myers Closed Property Sales 2009 - 2011

As we head into the 2012 season here in Southwest Florida, the data shows prices are rising and the inventory continues to fall. And, while overall sales were down slightly in 2011, it still was one of the top three sales years (2009, 10 & 11) in the area's history. The bottom line is you need to be prepared for having less choice when it comes to purchasing a home or condo this season. And, in all likelihood, you're going to pay a little more for it this year too.

*Sales Statistics Data from FMLS.

About the Author

Benjamin Dona is the Broker and Owner of Gulf Coast Associates, Realtors in Bonita Springs, Florida. He holds two advanced degrees, an MBA and an MA, and has an extensive background in both business and marketing. In 1998, he founded Gulf Coast Associates, and formed a group of like-minded Realtor® associates dedicated to offering professional real estate services by concentrating on information, education and the use of leading edge technologies. He also is a much-quoted and read blog author, and a contributor to both national and international news outlets. Benjamin is a member of the National Association of Realtors, the Florida Association of Realtors, and numerous local real estate boards throughout Southwest Florida.

Contact Benjamin Dona at 239-948-3955

SouthwestFloridaRealEstateBlog.com

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