Cape Coral Real Estate Market
Cape Coral is a city in Southwest Florida, sandwiched between the ocean and Fort Myers. You probably haven’t heard of it unless you’ve vacationed there to be close to the ocean without officially being in Fort Myers. We’ll first share a number of facts about this Fort Myers suburb. Then we’ll share 10 reasons to invest in the Cape Coral real estate market.
Cape Coral is home to around 180,000 permanent residents. However, it is part of the 700,000 strong Fort Myers metropolitan area. The town is notable for the number of navigable canals and rivers in the area. It is also one of the early master planned communities, though it isn’t as bad as Coral Gables near Miami.
The Cape Coral housing market is somewhat competitive. The average sale price of a home in Cape Coral was $233K last month. Prices reflect cost of living, and here in Southwest Florida, the cost of living is affordable.
In Southwest Florida they have lower taxes, so people get to keep more of their income. Southwest Florida real estate market is a good deal. It offers water, warmth and a way of life and a median sales price that is less than that of the United States.
Cape Coral is a vibrant and friendly community with all the beauty that you expect from Southwest Florida. With more than 400 miles of canals, boating, fishing and water sports are a significant enhancement to the quality of life here in Cape Coral.
Cape Coral Real Estate Market Forecast 2019
Let’s take a look at the real estate market forecast of Cape Coral. On Zillow, the median home value in Cape Coral is $227,500. Cape Coral home values have gone up 5.6% over the past year and the Cape Coral real estate market prediction is that they will rise 0.8% in 2019.
The median list price per square foot in Cape Coral is $151, which is lower than the Cape Coral-Fort Myers Metro average of $160. The median price of homes currently listed in Cape Coral is $258,890 while the median price of homes that sold is $216,600. The median rent price in Cape Coral is $1,560, which is lower than the Cape Coral-Fort Myers Metro median of $1,750.
Currently, the statistics show us that the Cape Coral real estate market is very healthy. On Trulia, the Cape Coral real estate market trends indicate a decrease of $4,000 (-2%) in median home sales and a -1% drop in median rent per month over the past year. The average price per square foot for this same period fell to $139, down from $140. Trulia has 1,544 resale and new homes in Cape Coral lined up for you, including open houses, and homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process.
Cape Coral Real Estate Trends – Home Prices And Appreciation Rates
Cape Coral real estate appreciated 27.11% over the last ten years, which is an average annual home appreciation rate of 2.43%, putting Cape Coral in the top 20% nationally for real estate appreciation. Appreciation rates are so strong in Cape Coral that despite a nationwide downturn in the housing market, Cape Coral real estate has continued to appreciate in value faster than most communities.
Looking at just the latest twelve months, Cape Coral appreciation rates continue to be some of the highest in America, at 7.06%, which is higher than appreciation rates in 77.30% of the cities and towns in the nation.
Based on the last twelve months, short-term real estate investors have found good fortune in Cape Coral. Cape Coral appreciation rates in the latest quarter were at 1.43%, which equates to an annual appreciation rate of 5.84%.
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