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August gulf and sailboat access home sales are higher - Homing In

September 23, 2019
By Bob and Geri Quinn , Cape Coral Daily Breeze

What a difference a year makes when it comes to the number of closed home sales for the Cape's gulf and sailboat access canal home segments in August, as they posted strong sales gains versus August of last year, when water quality issues were plaguing portions of Florida waterways. However, any enthusiasm with the rebound in the sales of these homes is likely being tempered by their lower median sales prices. Freshwater canal homes also posted strong August numbers, while dry lot home sales were a drag on our overall market.

Beginning with the overall Cape Coral single family home market, there were 473 closed home sales in August, which was down a tick from the 474 homes sold in August of 2018, and it was also down 5.40 percent from the 500 sales in July of this year. In the first eight months of 2019, the number of closed home sales in the overall Cape market were up 0.47 percent to an average of 453.25 homes sold per month, compared to an average of 451.13 homes sold per month in the first eight months of 2018.

The median sales price in the Cape's overall single family home market came in at $240,750 in August, which was virtually flat with the $240,575 posted in August of 2018, but down 0.52 percent from $242,000 in July of this year. In the first eight months of 2019, the median sales price averaged $242,981 per month in the Cape's overall single family home market, or 2.21 percent above the average of $237,738 per month in the first eight months of 2018.

Gulf access canal homes

In the Cape Coral single family gulf access canal home segment, there were 100 closed home sales in August, which was up 19.05 percent from the 84 homes sold in August of 2018, and it was 17.65 percent higher than the 85 sales in July of this year. In the first eight months of 2019, the number of closed home sales in this segment were up 8.83 percent to an average of 97.13 homes sold per month, compared to an average of 89.25 gulf access homes sold per month over the first eight months of 2018.

The median sales price in the Cape's single family gulf access canal home segment, came in at $427,000 in August, which was 2.06 percent lower than the $436,000 posted in August of 2018, but it was up 3.64 percent from $412,000 in July of this year. In the first eight months of 2019, the median sales price averaged $427,688 per month in this segment, which was 1.38 percent below the average of $433,688 per month in the first eight 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 canal homes, there were 43 closed home sales in August, which was up 22.86 percent from the 35 homes sold in August of 2018, and it was 2.38 percent above the 42 sales in July of this year. In the first eight months of 2019, the number of closed home sales in this segment were up 7.36 percent to an average of 45.63 homes sold per month, versus an average of 42.5 sailboat access homes sold per month in the first eight months of 2018.

The median sales price in the Cape's single family sailboat access canal home segment, came in at $375,000 in August, which was 17.58 percent lower than the $455,000 posted in August of 2018. This marks the first time in this segment since 2016, when at least two single monthly median sales price totals in a given year came in below $400,000. This August was also down 14.77 percent from the $440,000 posted in July of this year. In the first eight months of 2019, the median sales price averaged $436,000 per month in this segment, which was 2.79 percent below the average of $448,500 per month in the first eight months of 2018.

Freshwater canal homes

In the Cape Coral single family freshwater canal home segment, there were 60 closed home sales in August, which was up 39.53 percent from the 43 homes sold in August of 2018, but down 1.64 percent from the 61 sales in July of this year. In the first eight months of 2019, the number of closed home sales in this segment were up 8.35 percent to an average of 51.88 homes sold per month, compared to an average of 47.88 freshwater canal homes sold per month in the first eight months of 2018.

The median sales price in the Cape's single family freshwater canal home segment came in at $315,950 in August, which was 16.16 percent higher than the $272,000 posted in August of 2018. This marks the first time in this segment since back in 2007, when there have been at least three single months in a given year with median sales prices coming in above $300,000. This August was also up by 14.89 percent from the $275,000 posted in July of this year. In the first eight months of 2019, the median sales price averaged $291,713 per month in this segment, which was 5.28 percent above the average of $277,076 per month in the first eight months of 2018.

Dry lot homes

In the Cape Coral single family dry lot (non-canal) home segment, there were 313 closed home sales in August, which was down 9.54 percent from the 346 homes sold in August of 2018, and it was 11.58 percent below the 354 sales in July of this year. In the first eight months of 2019, the number of closed home sales in this segment were down 3.27 percent to an average of 303.63 homes sold per month, compared to an average of 313.88 dry lot hThe median sales price in the Cape's single family dry lot home segment, came in at $217,790 in August, which was 3.53 percent lower than the $225,750 posted in August of 2018, and it was down 1.08 percent from $220,176 in July of this year. In the first eight months of 2019, the median sales price averaged $218,046 per month in this segment, or 1.13 percent above the average of $215,617 per month in the first eight months of 2018.

(The sales data for this article was obtained from the Florida Realtors Multiple Listing Service Matrix for Lee County, FL, as of September 16, 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 Quinn's 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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