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
Comments