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Cape July home sales post solid gains over July 2018

August 23, 2019
By BOB & GERI QUINN - Homing In , Cape Coral Daily Breeze

The combination of clear water along the Southwest Florida coastline so far this year, along with lower mortgage interest rates, are most likely the two biggest factors leading to a solidly higher number of closed single-family home sales in Cape Coral this July versus July 2018. In addition, the year-to-date sales numbers through July 31 were also running above last year's totals, except for a slight decline in dry lot home sales over the first seven months of this year. As you will note below, we did see a sharp decline in sales from June to July of this year in the gulf and sailboat access canal home segments, but this looks to be nothing more than the typical third quarter seasonal slowdown. In the first seven months of 2019, median sales prices in each of our home segments were only up or down a bit versus the first seven months of 2018, with the biggest price gains occurring in freshwater canal homes.

In the overall Cape Coral single-family home market, there were 495 closed home sales in July, which was an 11.74 percent increase from the 443 homes sold in July 2018, but it was down 0.80 percent from the 499 sales in June of this year. In the first seven months of 2019, the number of closed home sales in the overall Cape market were up 0.38 percent to an average of 449.57 homes sold per month, compared to an average of 447.86 homes sold per month over the first seven months of 2018.

The median sales price in the Cape's overall single-family home market came in at $242,000 in July, which was 5.22 percent higher than the $230,000 posted in July 2018, but it was down 1.18 percent from $244,900 in June of this year. In the first seven months of 2019, the median sales price averaged $243,293 per month in the Cape's overall single-family home market, or 3.79 percent above the average of $234,414 per month over the first seven months of 2018.

Gulf access canal homes

In the Cape Coral single-family gulf access canal home segment, there were 84 closed home sales in July, which was 10.53 percent higher than the 76 homes sold in July 2018, but down by 32.26 percent from the 124 sales in June of this year. In the first seven months of this year, the number of closed home sales in this segment were up by 7.3 percent to an average of 96.57 homes sold per month, compared to an average of 90 homes sold per month over the first seven months of 2018.

The median sales price in the Cape's single-family gulf access canal home segment came in at $414,750 in July, which was 3.32 percent lower than the $429,000 posted in July 2018, and 8.24 percent below the $452,000 in June of this year. In the first seven months of 2019, the median sales price averaged $428,179 per month in this segment, which was down 1.19 percent from the average of $433,357 per month over the first seven months of 2018.

Sailboat access canal homes

In the Cape Coral single-family sailboat access canal home segment, which is a subgroup of gulf access homes, there were 42 closed home sales in July, which was up 31.25 percent from the 32 homes sold in July 2018, but down by 28.81 percent from the 59 sales in June of this year. In the first seven months of 2019, the number of closed home sales in this segment averaged 46 sales per month, which was 5.58 percent higher than the average of 43.57 homes sold per month over the first seven months of 2018.

The median sales price in the Cape's single-family sailboat access canal home segment came in at $440,000 in July, which was 1.12 percent lower than the $445,000 posted in July 2018, and 6.38 percent below the $470,000 in June of this year. In the first seven months of 2019, the median sales price averaged $444,714 per month in this segment, or 0.64 percent less than the average of $447,571 per month over the first seven months of 2018.

Freshwater canal homes

In the Cape Coral single-family freshwater canal home segment, there were 61 closed home sales in July, which was up 15.09 percent from the 53 homes sold in July 2018, and 8.93 percent higher than the 56 sales in June of this year. In the first seven months of 2019, the number of closed sales in this segment averaged 50.57 sales per month, or 4.12 percent above the average of 48.57 homes sold per month over the first seven months of 2018.

The median sales price in the Cape's single-family freshwater canal home segment came in at $275,000 in July, which was 2.21 percent lower than the $281,000 posted in July 2018, and down 12.7 percent from $315,000 in June of this year. In the first seven months of 2019, the median sales price averaged $289,679 per month in this segment, which was 4.28 percent above the average of $277,801 per month over the first seven months of 2018.

Dry lot homes

In the Cape Coral single-family dry lot (non-canal) home segment, there were 350 closed home sales in July, which was 11.46 percent higher than the 314 homes sold in July 2018, and 9.72 percent above the 319 sales in June of this year. In the first seven months of 2019, the number of closed home sales in this segment averaged 301.71 sales per month, which was down 2.45 percent from the average of 309.29 homes sold per month over the first seven months of 2018.

The median sales price in the Cape's single-family dry lot home segment came in at $220,450 in July, which was 3.13 percent higher than the $213,750 posted in July 2018, and up 2.53 percent from $215,000 in June of this year. In the first seven months of 2019, the median sales price averaged $218,121 per month in this segment, which was 1.85 percent higher than the average of $214,169 per month over the first seven months of 2018.

(The sales data for this article was obtained from the Florida Realtors Multiple Listing Service Matrix for Lee County, Fla., as of Aug. 18, 2019. It was compiled by Bob and Geri Quinn and it includes information specifically for Cape Coral single-family homes, and does not include condominiums, short sales or foreclosures. 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 the RE/MAX Realty Team office in Cape Coral. They have lived in Cape Coral for over 39 years. Geri has been a full-time Realtor since 2005, and Bob 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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