September Market Trends for Single family homes in Cape Coral FL
We have just completed our September market update for Cape Coral and would like to share the trends and share our observations. We look at 4 month rolling trends. In other words, we compare a 4 month average of sales data with the same four months of the previous year. We find that gives us a better view of real trends versus month to month variation.
|
Median Sales Price |
Sales Volume |
Months of Inventory |
|
|
up 15% |
down 10.3% |
4.3 |
|
|
up 7.2% |
down 11% |
9.5 |
|
|
up 11.7% |
unchanged |
6.1 |
Off Water Cape Coral Homes
Homes which are not on canals are the most affordable homes and therefore most in demand. Inventory has been shrinking in lower cost homes. There are currently only 18 active listings priced below $150,000. Sales volumes are down from last year likely due to increases in price. You will notice above that we just have 4.3 months of inventory in off water homes.
Gulf Access Cape Coral Homes
Cape Coral has many miles of canals which provide boating access to the Gulf. Naturally, these homes are the highest priced homes in Cape Coral. This month the median sale price was up compared to same period last year. We do not know yet if that will be a trend as the previous all had less than a 3% year over year rise and we saw a 11% decrease in sales volume. We have seen increases in inventory with current supply equaling 9.5 months of inventory.
Fresh Water Cape Coral Homes
Freshwater homes are homes on canals which do not lead to the Gulf of Mexico. They provide limited boating but do along a water view for a homeowner. Typically, a fresh water home value will lie somewhere between gulf access and an off water home. The median price of fresh water homes has consistently been averaging about 10% year over year price increase. The sales volume of fresh water homes is unchanged from last year and we have 6.1 months of inventory.
We have great tools on our site to:
Get an instant estimated home value
For more information or help with any of your real estate needs call or email
Ross Winchel
239-898-1214 Ross.Winchel@gmail.com
Broker Associate Koffman and Associates
Century 21 Sunbelt Realty
