Victoria A. Yereance, P. A., Realtor- successfully fulfilling real estate dreams since 2002

Contact me: 239-823-6917  pvcape@comcast.net  Facebook

Other than love, SOLD is my favorite four letter word!

Cape Coral, Florida January 4, 2018 - yes, it is cold today....for here

Another year in the books, under our belt, passed, said and done, (insert your own phrase here), and we see the SW Florida real estate market was up yet again for the 7th consecutive year.  Cape Coral, the city of canals, was up overall 8% in sale price from last year.  New construction has driven alot of movement (in sales and in the movement of more jobs and people moving here).  In the first two months of The City of Cape Coral's fiscal year (October & November), the number of new construction permits issued for single family homes was up 73.4% from same time prior year and that year was up from 2015!  What's impressive about this gain is that those numbers were posted AFTER Hurricane Irma came through.  Did we see a little attrition after Irma, yes, but none that one would notice.

SELLERS / BUYER'S Market - Basically, it's a SELLERs market for listings under $275k for most of Lee County (xcpt Lehigh Acres).  The majority of homes/houses in this price range and even up to $300k have been selling about 3% under the asking price or at 97% of the asking price (toe-may-toe vs toe-mah-toe).  Inventory at $300k and below remains around 4 months or even less with a lower price points.  Once we get above the $400k mark is where we really notice the inventory increasing and we're at normal capapcity 5-6 months of inventory...Buyer's market.  But even the, those properties are still within a sale price that is 4-8% under asking price.

Vacant land; Gulf Access,Freshwater & Off-Water - still a healthy market and not a bad investment. Since there is little inventory under $275k, we're seeing alot of people building!!  An off-water lot (10,000 sq. ft) w/central utilities of water, sewer & irrigation, located in the South Cape will run you about $37k-45k.  Gulf Access - you can still find them for $90k but be careful of the location...some places will take you 1.5 hours to get to the river.  Closer to the river or ICW (Intra-coastal Waterway) - figure $140k+  Freshwater canal lots - ODDLES (there's a word), PLENTY of opportunity in the North Cape; nice lots w/access to several freshwater lakes....$15k+.  Off-water North Cape (no sewer, water or irrigation-it would be well & septic) $10-$12k.

Call me!  I'll find you what you need/want!

 

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