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Record 2019 Cape gulf and sailboat access condo sales

February 7, 2020
By BOB & GERI QUINN - Homing In , Cape Coral Daily Breeze

Beginning with a quick condo market snapshot, the number of gulf and sailboat access canal condos sold in Cape Coral staged big rallies in 2019, as these segments surged to a record high level of closed sales. At the same time, the average median sales prices in these prime saltwater condo segments came in a bit lower for the year in 2019, versus 2018.

Moving over to the Cape's dry lot condo segment, the picture was a bit different, as the number of closed sales in December and in the fourth quarter of 2019 both came in higher than they were in 2018. However, these 2019 sales totals were lower than the sales numbers posted for these time frames for each year dating back to 2015. All of this while the yearly total of dry lot condo sales in 2019, at 268 units sold, was the lowest annual sales number in this segment since the 253 sales posted for the year back in 2015. Median sales prices for dry lot condos in the Cape came in strong for December 2019 versus 2018, and nicely higher year-over-year for the fourth quarter. But they were only fractionally higher for the full year of 2019, compared to the yearly average median sales price in 2018. The sales and median sales price details for each segment of the Cape's condo market are shown below.

In the overall Cape condo market, there were 51 closed sales in the month of December, which was 27.5 percent higher than the 40 condos sold in December 2018, but 13.56 percent below the 59 sales in November of last year. In the fourth quarter of 2019, there were 163 closed condo sales, up 33.61 percent compared to the 122 sales in the fourth quarter of 2018. Through Dec. 31, there were a total of 689 condos sold in the Cape during 2019, which was fractionally lower than the 691 condo units sold for the year in 2018.

The December median sales price came in at $172,000 for the overall Cape Coral condo market, which was 0.61 percent above the $170,950 posted in December 2018. In the fourth quarter of 2019, the median sales price averaged $164,333 per month, which was 1.45 percent higher than the average of $161,983 per month in the fourth quarter of 2018.

Through Dec. 31, the median sales price has averaged $162,896 per month in our overall condo market in 2019, or 2.55 percent above the average of $158,846 per month for the year in 2018.

Gulf access canal condos

In the Cape Coral gulf access canal condo segment, there were 28 closed sales in the month of December, which was 47.37 percent higher than the 19 condos sold in December 2018, but 9.68 percent below the 31 sales in November of last year. In the fourth quarter of 2019, there were 86 closed condo sales in this segment, up 48.28 percent compared to the 58 sales in the fourth quarter of 2018. Through Dec. 31, there were a total of 347 gulf access condos sold in the Cape during 2019, which was 15.28 percent more than the 301 condo units sold for the year in 2018.

The December median sales price came in at $186,000 for the Cape's gulf access condo segment, which was 0.80 percent below the $187,500 posted in December 2018. In the fourth quarter of 2019, the median sales price averaged $182,000 per month in this segment, which was 3.63 percent higher than the average of $175,626 per month in the fourth quarter of 2018. Through Dec. 31, the median sales price for gulf access condos has averaged $180,354 per month in 2019, which was down 3.78 percent versus the average of $187,436 per month for the year in 2018.

Sailboat access canal condos

In the Cape Coral sailboat access canal condo segment, which is a subgroup of gulf access condos, there were 19 closed sales in the month of December, which was 72.73 percent higher than the 11 condos sold in December 2018, but 5.0 percent below the 20 sales in November of last year. In the fourth quarter of 2019, there were 56 closed condo sales in this segment, up 69.7 percent compared to the 33 sales in the fourth quarter of 2018. Through Dec. 31, there were a total of 196 sailboat access condos sold in the Cape during 2019, which was 19.51 percent more than the 164 condo units sold for the year in 2018.

The December median sales price came in at $252,000 for the Cape's sailboat access condo segment, which was 10 percent below the $280,000 posted in December 2018. In the fourth quarter of 2019, the median sales price averaged $208,333 per month in this segment, which was 9.88 percent lower than the average of $231,167 per month in the fourth quarter of 2018. Through Dec. 31, the median sales price for sailboat access condos has averaged $209,125 per month in 2019, which was down 4.65 percent versus the average of $219,325 per month for the year in 2018.

Dry lot condos

In the Cape Coral dry lot (non-canal) condo segment, there were 18 closed sales in the month of December, which was 12.5 percent higher than the 16 condos sold in December 2018, but 10 percent below the 20 sales in November of last year. In the fourth quarter of 2019, there were 61 closed condo sales in this segment, up 22 percent compared to the 50 sales in the fourth quarter of 2018. Through Dec. 31, there were a total of 268 dry lot condos sold in the Cape during 2019, which was 19.28 percent less than the 332 condo units sold for the year in 2018.

The December median sales price came in at $165,000 for the Cape's dry lot condo segment, which was 19.13 percent above the $138,500 posted in December 2018. In the fourth quarter of 2019, the median sales price averaged $145,186 per month in this segment, which was 3.57 percent higher than the average of $140,175 per month in the fourth quarter of 2018. Through Dec. 31, the median sales price for dry lot condos in the Cape has averaged $136,130 per month in 2019, which was up 0.44 percent versus the average of $135,531 per month for the year in 2018.

(The sales data for this article was obtained from the Florida Realtors Multiple Listing Service Matrix for Lee County, Fla., as of Feb. 2, 2020. It was compiled by Bob and Geri Quinn and it includes information specifically for Cape Coral condominiums, townhouses and villas, and it does not include any 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 40 years. Geri has been a full-time Realtor since 2005, and Bob joined 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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