Dream Home
Sweet Dream Home
Photo by Chris Shimp/PhotoSell Florida
Find the perfect place at the price you want. A thriving economy, magnificent weather and a diverse, sizable housing supply continue to make for a robust real estate market in Cape Coral. In 2019, the U.S. Census Bureau reported that the Cape Coral-Fort Myers Metropolitan Statistical Area ranked seventh in the nation for population growth from 2010 to 2018, growing 22 percent to 754,610 people. Cape Coral, the third largest city in Florida at 120 square miles but seventh in population with a figure that was expected to reach 200,000 in 2019, more than plays its part in that growth. New residents continue to fill up a thriving city not quite halfway to its expected builtout population of 400,000. “You’re still getting a lot for your money in Southwest Florida,” said Josh Burdine, president of the Royal Palm Coast Realtor Association.
“We have a lot to offer. I think people are going to continue to come here.” The median sale price for a singlefamily home in the Cape Coral metropolit an area in August 2019 was $255,000. Coming on top of Southwest Florida’s many advantages, including no state sales tax, that’s a good savings on the national median sale price of $278,200, a figure from the National Association of Realtors. Cape Coral’s median single-family home list price has remained fairly steady for at least three years, rising from $229,900 in September 2016 to $259,000 in July 2019, according to Realtor.com. In the last year, the inventory of available single-family homes has dropped slightly, from 4.9 months of supply in August 2018 to 4.6 months in August 2019. That’s a figure trending more strongly capecoralchamber.com
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toward a seller’s market. Experts generally consider more than six months inventory a buyer’s market, and less than five months a seller’s market. Still, residential construction activity remains brisk, ensuring Cape Coral will continue to be able to meet demand for the 20,000 to 25,000 people expected to move to Lee County each year. The University of Florida’s Bureau of Economic and Business Research estimates the county population will reach one million by 2040. “We have a lot of value in terms of what Southwest Florida offers,” Burdine said. “You’re still getting a relatively nice-size home, newer homes, for a very competitive price. There’s quality of life: fresh Gulf breezes, capacity for boating and fishing. And there’s so much happening economically.”