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Cape’s third quarter home sales up strong versus 2018

October 25, 2019
By BOB & GERI QUINN - Hom , Cape Coral Daily Breeze

In the overall Cape Coral single-family home market, there were 432 closed home sales in September, which was up 21.35 percent from the 356 homes sold in September 2018, but 9.81 percent lower than the 479 homes sold in August of this year. In the third quarter, there were a total of 1,412 closed home sales overall in the Cape, which was 10.92 percent above the total of 1,273 home sales in the third quarter of 2018, but 10.46 percent lower than the 1,577 homes sold in the second quarter of this year. In the first nine months of 2019, there have been 4,068 closed home sales in Cape's overall single-family home market, which is 2.6 percent higher than the 3,965 sales in the first nine months of 2018.

The median sales price in the overall Cape Coral single-family home market was $247,500 in September, which was up 5.75 percent from the $234,053 posted in September of 2018, and 3.05 percent higher than the $240,165 registered in August of this year. In the third quarter, the median sales price averaged $243,222 per month, which was 3.55 percent above the average of $234,876 per month in the third quarter of 2018, but 1.78 percent below the average of $247,628 per month in the second quarter of this year. In the first nine months of 2019, the median sales price in the Cape's overall single-family home market has averaged $243,522 per month, or 2.61 percent higher than the average of $237,328 per month in the first nine months of 2018.

Gulf access canal homes

In the Cape Coral single-family gulf access canal home segment, there were 91 closed home sales in September, which was up 62.5 percent from the 56 homes sold in September 2018, but 10.78 percent lower than the 102 homes sold in August of this year. In the third quarter, there were a total of 278 closed home sales in this segment, which was 28.7 percent above the total of 216 home sales in the third quarter of 2018, but 22.78 percent lower than the 360 homes sold in the second quarter of this year. In the first nine months of 2019, there have been 871 closed gulf access home sales in the Cape, which was 13.12 percent higher than the 770 sales in the first nine months of 2018.

The median sales price in the Cape's single-family gulf access canal home segment was $455,000 in September, which was up 11.66 percent from the $407,500 posted in September 2018, and 6.56 percent higher than the $427,000 registered in August of this year. In the third quarter, the median sales price averaged $431,333 per month in this segment, which was 1.69 percent above the average of $424,167 per month in the third quarter of 2018, but 2.45 percent below the average of $442,167 per month in the second quarter of this year. In the first nine months of 2019, the median sales price in the Cape's gulf access canal home segment has averaged $432,106 per month, or 0.31 percent higher than the average of $430,778 per month in the first nine 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 41 closed home sales in September, which was up 51.85 percent from the 27 homes sold in September 2018, but 6.82 percent lower than the 41 homes sold in August of this year. In the third quarter, there were a total of 127 closed home sales in this segment, which was 35.11 percent above the total of 94 home sales in the third quarter of 2018, but 19.11 percent lower than the 157 homes sold in the second quarter of this year. In the first nine months of 2019, there were 407 closed sailboat access home sales in the Cape, which was up 10.9 percent versus 367 sales in the first nine months of 2018.

The median sales price in the Cape's single-family sailboat access canal home segment was $460,000 in September, which was up 15.03 percent from the $399,900 posted in September 2018, and 21.85 percent higher than the $377,500 registered in August of this year. In the third quarter, the median sales price averaged $425,833 per month in this segment, which was 1.72 percent below the average of $433,300 per month in the third quarter of 2018, and 4.24 percent below the average of $444,667 per month in the second quarter of this year. In the first nine months of 2019, the median sales price in the Cape's sailboat access canal home segment has averaged $438,944 per month, which was 0.94 percent lower than the average of $443,100 per month in the first nine months of 2018.

Freshwater canal homes

In the Cape Coral single-family freshwater canal home segment, there were 41 closed home sales in September, which was up 24.24 percent from the 33 homes sold in September 2018, but down 31.67 percent from the 60 homes sold in August of this year. In the third quarter, there were a total of 162 closed home sales in this segment, which was 25.58 percent above the total of 129 home sales in the third quarter of 2018, but 10.5 percent lower than the 181 homes sold in the second quarter of this year. In the first nine months of 2019, there were 457 closed freshwater canal home sales in the Cape, which was 9.86 percent higher than the 416 sales in the first nine months of 2018.

The median sales price in the Cape's single-family freshwater canal home segment was $282,000 in September, which was down 1.91 percent from the $287,500 posted in September 2018, and 10.75 percent lower than the $315,950 registered in August of this year. In the third quarter, the median sales price averaged $290,983 per month, which was 3.86 percent above the average of $280,167 per month in the third quarter of 2018, and a fraction lower than the average of $291,500 per month in the second quarter of this year. In the first nine months of 2019, the median sales price in the Cape's freshwater canal home segment has averaged $290,578 per month, or 4.44 percent higher than the average of $278,234 per month in the first nine months of 2018.

We will have the sales numbers for the dry lot home segment next week, along with the updated third quarter numbers for the monthly supply of unsold Cape Coral homes.

(The sales data for this article was obtained from the Florida Realtors Multiple Listing Service Matrix for Lee County, Fla., as of Oct. 20, 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 40 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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