Sign In | Create an Account | Welcome, . My Account | Logout | Subscribe | Submit News | Staff Contacts | Home RSS
 
 
 

Second quarter Cape condo sales up from first quarter

August 9, 2019
By BOB & GERI QUINN - Homing In , Cape Coral Daily Breeze

The number of Cape Coral condo units sold in the second quarter of 2019 were up sharply across the board versus the sluggish first quarter sales. They also came in higher than the second quarter of 2018, except for dry lot condos, which were lower than last year. Despite a strong second quarter rebound, the number of closed condo sales in the first six months of 2019 still lags behind the sales numbers for the first half of last year. All of this while mid-year median sales prices for Cape condos are remaining largely range bound with last year.

In the overall Cape Coral condo market, the number of closed sales in June came in at 57 units sold, which was up 9.62 percent from 52 closed sales in June 2018, but 24 percent below the 75 sales in May of this year. In the second quarter of 2019, there were 209 closed sales in the overall Cape condo market, for a 3.47 percent gain over the 202 units sold in the second quarter of 2018, and up 39.33 percent versus the 150 sales in the first quarter of this year. Overall, through June 30, an average of 59.83 Cape condos have been sold per month in 2019, which was down 10.7 percent versus the average of 60.4 condo sales per month over the first six months of 2018.

Median sales prices in the Cape's overall condo market came in at $167,000 in June, which was down 1.33 percent versus the $169,250 from June 2018, but up 7.74 percent versus $155,000 in May of this year. In the second quarter of 2019, median sales prices for Cape condos averaged $163,333 per month, which was up a fraction versus the average of $163,083 per month in the second quarter of 2018, but down a fraction from the average of $163,500 per month in the first quarter of this year. Through June 30, the average median sales price overall for Cape Coral condos has been $163,417 per month, which was up 2.3 percent compared to the average of $159,750 per month over the first six months of 2018.

Gulf access

canal condos

In the Cape Coral gulf access canal condo segment, the number of closed sales in June came in at 24 units sold, which was up 9.09 percent from 22 closed sales in June 2018, but 38.46 percent below the 39 sales in May of this year. In the second quarter of 2019, there were a total of 104 closed sales in this condo segment, which was 8.33 percent higher than the 96 units sold in the second quarter of 2018, and up 42.47 percent compared to the 73 sales during the first quarter of this year. Through June 30 of this year, an average of 29.5 Cape Coral gulf access condos were sold per month, which was down 5.84 percent versus the average of 31.33 sales per month over the first six months of 2018.

The median sales price in the Cape's gulf access condo segment came in at $189,500 in June, which was up 0.29 percent versus the $188,950 posted in June of 2018, and 18.44 percent higher than the $160,000 posted in May of this year. In the second quarter of 2019, median sales prices in this segment averaged $194,833 per month, which was up 0.71 percent versus the average of $193,467 per month in the second quarter of 2018, and 10.75 percent above the average of $175,917 per month in the first quarter of this year. Through June 30, the average median sales price for Cape gulf access condos has been $185,375 per month, which was down 4.58 percent versus the average of $194,267 per month over the first six months of 2018.

Sailboat access canal condos

In the Cape Coral sailboat access canal condo segment, which is a subgroup of gulf access condos, the number of closed sales in June came in at 13 units sold, which was up 8.33 percent from 12 closed sales in June 2018, but 38.10 percent below the 21 sales in May of this year. In the second quarter, there were a total of 61 closed sales in this segment, which was 27.08 percent above the 48 units sold in the second quarter of 2018, and up 64.86 percent versus the 37 sales in the first quarter of this year. Through June 30 of this year, an average of 16.33 Cape Coral sailboat access condos were sold per month, which was down 5.77 percent versus the average of 17.33 sales per month over the first six months of 2018.

The median sales price in the Cape's sailboat access condo segment was $194,500 in June, which was up 2.94 percent versus the $188,950 from June 2018, but 2.26 percent below the $199,000 in May of this year. In the second quarter, median sales prices in this condo segment averaged $237,833 per month, which was up 13.44 percent versus the average of $209,650 per month in the second quarter of 2018, and 17.06 percent above the average of $203,167 per month in the first quarter of this year. Through June 30, the average median sales price for Cape Coral sailboat access condos has been $220,500 per month, which was virtually flat with the average of $220,650 per month over the first six months of 2018.

Dry lot condos

In the Cape Coral dry lot (non-canal) condo segment, the number of closed sales in June came in at 24 units sold, which was down 11.11 percent from 27 closed sales in June 2018, and 25 percent below the 32 sales in May of this year. In the second quarter of 2019, there were a total of 84 closed sales in this segment, which was 8.7 percent lower than the 92 units sold in the second quarter of 2018, but 40 percent higher than the 60 sales during the first quarter of this year. Through June 30 of this year, an average of 24 Cape Coral dry lot condos were sold per month, which is down 21.31 percent versus the average of 30.5 sales per month over the first six months of 2018.

The median sales price in the Cape's dry lot condo segment was $137,000 in June, which was down 5.52 percent versus the $145,000 from June 2018, and 2.14 percent below the $140,000 in May of this year. In the second quarter of 2019, median sales prices in this condo segment averaged $129,333 per month, which was down 6.56 percent versus the average of $138,417 per month in the second quarter of 2018, and 3.84 percent less than the average of $134,500 per month in the first quarter of this year. Through June 30, the average median sales price for Cape Coral dry lot condos has been $131,917 per month, or down a fraction from the average of $132,367 per month over the first six 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. 3, 2019. It was compiled by Bob and Geri Quinn and it includes information specifically for Cape Coral condominiums, townhouse, and villas, and it does not include single-family homes, 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.)

 
 
 

 

I am looking for:
in:
News, Blogs & Events Web