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Solid first half numbers in Cape single-family homes

July 21, 2017
By BOB and GERI QUINN - Homing In , Cape Coral Daily Breeze

In the overall Cape Coral single-family home market, 479 homes were sold in June, which was 5.51 percent more than the 454 homes sold in June 2016, and 4.36 percent above the 459 homes sold in May. The second-quarter averaged 458.33 homes sold per month, which was fractionally higher than the average of 454.67 sold per month in the second quarter of 2016, but 31.5 percent above the average of 348.67 sold per month in the first quarter 2017. Through June 30, we have averaged 403.5 homes sold per month, up 5.54 percent over the average of 382.33 homes sold per month in the first 6 months of 2016.

Median sales prices in the overall Cape Coral single-family home market were higher in the first 6 months of 2017, but second quarter prices showed a bit of weakness. June's median sales price of $225,650 was 5.24 percent higher than the $214,423 in June 2016, but flat with the $225,000 median price this May. In the second quarter 2017, the median sales price averaged $228,550 per month, up 7.31 percent over the $212,974 from the second quarter 2016, but down slightly from $230,267 in the first quarter of this year. Through June 30, the overall median sales price averaged $229,408 per month, up 9.2 percent from an average of $210,083 per month in the first 6 months of 2016.

Gulf access canal homes

The number of homes sold in the Cape Coral gulf access canal home segment was strong during the first 6 months of 2017, and although lower than the peak months of March and April, they have remained solid in relation to the slower seasonal effect in place at this time of year. In June, there were 100 gulf access canal homes sold, which was 3 percent better than the 97 homes sold in June 2016, and 8.7 percent above the 92 homes sold in May. In the second quarter, we averaged 104 gulf access homes sold per month, up 16.42 percent above the average of 89.33 sold per month in the second quarter 2016, and 20.9 percent higher than the average of 86 sold per month in the first quarter of this year. Through June 30, we have averaged 95 homes sold per month, up 18 percent over the average of 80.5 homes sold per month in the first 6-months of 2016.

There was a slight blip in the second quarter median sales price, down 0.83 percent to $412,958 from $416,400 in the first quarter of this year, but it was 5.44 percent above the $391,667 posted in the second quarter 2016. The June median sales price of $434,500 for gulf access canal homes was the second highest so far this year, while being 17.43 percent above the $370,000 from June 2016, and 8.46 percent higher than in May, at $400,625. Through June 30, the median sales price for gulf access homes has averaged $414,679 per month, up 6.87 percent compared to $388,021 per month in the first 6 months of 2016.

Sailboat access canal homes

Cape Coral sailboat access canal homes have also had strong first half, with the typical seasonal dip in homes sold following the strong months of March and April. In June, there were 38 sailboat access homes sold, which was one more than in June 2016, and 11.76 percent above the 34 homes sold in May. The second quarter of 2017 averaged 43.33 homes sold per month, up 17 percent compared to 37 homes sold per month in the second quarter 2016, but only 1.56 percent above the 42.67 homes sold per month in the first quarter of this year. Through June 30, we have averaged 43 homes sold per month, up 22.26 percent over the average of 35.17 sold per month in the first 6 months of 2016.

Median sales prices for Cape Coral sailboat access homes were solid, despite a dip of 7.47 percent from an average of $457,500 per month in the first quarter to $423,317 per month in the second quarter of this year, but we were 5.17 percent above the $402,500 per month from the second quarter 2016. This June came in at $425,000 which was 6.52 percent better than the $399,000 from June 2016, and it was also 2.4 percent above this May, at $415,000. Through June 30, the median sales price in this segment has averaged $440,408 per month, or 12.13 percent higher than the $392,754 per month in the first 6 months of 2016.

Freshwater

canal homes

There were 51 Cape Coral freshwater canal homes sold in June, up 37.84 percent from the 37 sold in June 2016, with a more modest 6.25 percent gain over the 48 sold in May. In the second quarter, an average of 46.67 homes were sold per month, up 2.94 percent above the average of 45.33 sold per month in the second quarter 2016, and 40 percent higher than the average of 33.33 sold per month in the first quarter of this year. Through June 30, there has been an average of 40 freshwater canal homes sold per month in 2017, up 3.9 percent versus the average of 38.5 homes sold per month in the first 6 months of 2016. Median sales prices for freshwater canal homes climbed to $310,000 in June, up 14.86 percent from $269,900 in June 2016, and 8.22 percent higher than the $286,450 posted in May. This was the first monthly total above $300,000 in this segment since reaching $315,000 last October. The monthly average of $279,483 for the second quarter of this year was 3 percent higher than the average of $271,133 per month in the second quarter 2016, and down a fraction from the first quarter monthly average of $280,417. Through June 30, the median sales price in this segment has averaged $279,950 per month in 2017, up 4.38 percent versus an average of $268,192 per month in the first 6 months of 2016.

Dry lot homes

The number of dry lot (non-canal) homes sold during the second quarter in Cape Coral, was up 33.7 percent, averaging of 306.67 sold per month, versus an average of 229.33 sold per month in the first quarter, but down 4.17 percent compared to the average of 320 sold per month in the second-quarter 2016. In June, there were 328 homes sold, up 2.5 percent versus the 320 home sold in June 2016, and only 3.14 percent higher than in May, with 318 homes sold. Through June 30, an average of 268 dry lot homes have been sold per month, up only 1.77 percent over the average of 263.33 sold per month in the first 6-months of 2016.

The median sales price for Cape Coral single--family dry lot homes, was $208,639 in June, up 8.38 percent compared to $192,500 in June 2016, and 4.32 percent higher than in May at $200,000. In the second quarter, the median sales price broke above $200,000 for the first time since 2007, averaging $204,546 per month, and 9 percent higher than the average of $187,633 per month in 2016. It was also 2.8 percent higher than the average of $198,981 per month in the first-quarter 2017. Through June 30, it has averaged 201,764 per month, or 9.74 percent higher than the average of $183,861 per month in the first 6 months of 2016.

(The June 2017, sales data for this article was obtained from the Florida Realtors Multiple Listing Service Matrix for Lee County, as of July 16, 2017, and it was compiled by Bob and Geri Quinn. It includes information specifically for Cape Coral single family homes, not including condominiums, foreclosures or short sales. The data and statistics are believed to be reliable, however, they could be updated and revised periodically, and are subject to change without notice. The Quinns are a husband and wife real estate team with Century 21 Birchwood Realty Inc., in Cape Coral. They have lived in Cape Coral for over 37 years. Geri has been a full-time Realtor since 2005, and Bob, who also holds a Certified Financial Planner designation, joined with Geri as a full-time Realtor in 2014. Their real estate practice is mainly focused on Cape Coral residential property and vacant lots.)

 
 
 

 

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