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Home and condo sales by dollar volume mostly solid

September 13, 2019
By BOB & GERI QUINN - Homing In , Cape Coral Daily Breeze

This week we are going to take a look at the total dollar volume of single-family home and condo sales in Cape Coral. This market statistic is compiled by adding together all of the final prices for closed home and condo sales, to come up with the total dollar volume of sales. It gives us another way to analyze the current market conditions, while also providing us with a glimpse of the total size of the Cape's home and condo markets. Our numbers are based on the final closed sales prices from Jan. 1 through Aug. 31 of this year. Keep in mind that it is typical for a home or condo to go under contract with a buyer approximately 25 to 45 days before the sale closes. So as an example, from a seller's perspective, your home would have likely gone under contract with a buyer beginning sometime in late November through December in order to have the sale finalized as a closed sale in January.

As you will see below, the numbers are generally solid, but mixed, with the single-family home market remaining mostly steady, while the otherwise solid condo market numbers were thrown for a loop by the dollar volume weakness in the dry lot condo segment.

In the overall Cape Coral single-family home market, through the end of August, the total dollar volume of homes sold has averaged $133,115,315 per month in 2019, which was 1.82 percent higher than the average dollar volume of $130,738,271 per month over the first eight months of 2018. So far this year, our worst month was January, with $74,460,662 in total home sales and our best month was May, with sales of $168,302,346.

In the overall Cape Coral condo market, through the end of August, the total dollar volume of condos sold has averaged $11,501,733 per month in 2019, which was 7.74 percent less than the average dollar volume of $12,465,979 per month over the first eight months of 2018. So far this year, our worst month was February, with $7,354,550 in total condo sales and our best month was in April, with sales of $17,169,101.

Gulf access canal

homes and condos

In the Cape Coral single-family gulf access canal home segment, through the end of August, the total dollar volume of homes sold has averaged $47,403,078 per month in 2019, which was 4.17 percent higher than the average dollar volume of $45,507,499 per month in this segment over the first eight months of 2018. So far this year, our worst month for gulf access homes was January, with $24,635,143 in total sales and our best month was June, with sales of $61,741,667.

In the Cape Coral gulf access canal condo segment, through the end of August, the total dollar volume of condos sold has averaged $7,271,359 per month in 2019, which was 5.62 percent higher than the average dollar volume of $6,884,646 per month in this segment over the first eight months of 2018. So far this year, our worst month for gulf access condos was February, with $3,631,900 in total sales and our best month was April, with sales of $12,105,651.

Sailboat access canal homes and condos

In the Cape Coral single-family sailboat access canal home segment, which is a subgroup of gulf access homes, through the end of August, the total dollar volume of homes sold has averaged $23,847,300 per month in 2019. This was 1.15 percent less than the average dollar volume of $24,125,561 per month in this segment over the first eight months of 2018. So far this year, our worst month for sailboat access homes was January, with $12,375,300 in total sales and our best month was June, with sales of $32,238,517.

In the Cape Coral sailboat access canal condo segment, which is a subgroup of gulf access condos, through the end of August, the total dollar volume of condos sold has averaged $4,860,406 per month in 2019. This was 7.59 percent higher than the average dollar volume of $4,517,656 per month in this segment over the first eight months of 2018. So far this year, our worst month was February, with $1,846,000 in total condo sales and our best month was April, with sales of $9,907,500.

Freshwater canal homes

In the Cape Coral single-family freshwater canal home segment, through the end of August, the total dollar volume of homes sold has averaged $15,724,152 per month in 2019, which was 12.13 percent higher than the average dollar volume of $14,022,900 per month in this segment over the first eight months of 2018. So far this year, our worst month for freshwater canal homes was January, with $8,027,200 in total sales and our best month was May, with sales of $22,391,657.

The sales data for freshwater canal condos in Cape Coral is too small for us to analyze as a separate segment, but the numbers for this group are included in the overall condo statistics.

Dry lot homes and condos:

In the Cape Coral single-family dry lot (non-canal) home segment, through the end of August, the total dollar volume of homes sold has averaged $69,846,178 per month in 2019, which was 1.89 percent less than the average dollar volume of $71,193,485 per month in this segment over the first eight months of 2018. So far this year, our worst month for dry lot homes was January, with $41,798,319 in total sales and our best month was May, with sales of $87,151,189.

In the Cape Coral single-family dry lot condo segment, through the end of August, the total dollar volume of condos sold has averaged $3,199,668 per month in 2019, which was 30.22 percent less than the average dollar volume of $4,585,602 per month in this segment over the first eight months of 2018. So far this year, our worst month for dry lot condos was June with $2,006,277 in total sales and our best month was May, with sales of $4,853,950.

(The sales data for this article was obtained from the Florida Realtors Multiple Listing Service Matrix for Lee County, Fla., as of Sept. 10, 2019. It was compiled by Bob and Geri Quinn and it includes information for single-family homes and condominiums in Cape Coral, but it does not include 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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