Steve Koffman Real Estate Blog

11/30/2011

Cape Coral Gulf Access Homes

Cape Coral Gulf Access Update

Cape Coral gulf access home prices have held fairly steady over past 2 years with the median sale price normally fluctuating between $250,000 and $275,000 depending on sales for a particular month. Last month’s median sale was $310,000. We have seen a bit of a trend of increasing median sale prices over the past several months, hopefully this trend will continue towards a long term increase in prices. For the year 2011, 20% of gulf access sales have been REO or bank owned homes. Looking at our current gulf access active and pending listings, we see only 4% are REO. We may be moving back to less bank influenced market. This does not mean an automatic seller market though as we still have about 10 months inventory even without considering homes flowing into the market for sale as we approach winter season.

We have some great prices on gulf access as there are 15 homes priced below $200,000 which have boating to the gulf without any bridges. There are over 800 single family homes with gulf access boating available on the market with prices from low in $130,000’s to multimillion dollar homes.

Steve Koffman

Broker/Associate

Century 21 Sunbelt Realty, Inc

239-443-5191 Steve@koffman.com

Posted at 11:49 AM in real estate | Permalink | Comments (0)

09/02/2010

Monthly Update On Cape Coral Sales

In August, we saw a continuation of July’s slower but still healthy sales rate. 407 single family homes closed through Realtors. This is close to the 395 which closed last month. This is lower than the average of last year, but higher than what we have experienced over the long term. In 2005 and 2006, we saw sales of 323 and 246 sales per month, so we are still running a healthy sales rate driven by the best prices in years. Inventory remains high as homes continue to flow into the market at the rate of or greater than the sales rate. We are apparently experiencing a post home buyer’s tax credit lull. Our August pendings would indicate September closings may well continue the July – August trend. Eventually, the pool of homes in foreclosure will reduce and as our Lee county and Cape Coral population starts to again grow, we will start to see sales actually reduce our inventory for sale in MLS.