Cape Coral, Florida-Real Estate Market Update-November 2023
In this blog post, we'll delve into the current market conditions in Cape Coral, addressing the question on many minds: Is now a good time to buy? Join me in exploring the numbers and insights that shape the Cape Coral real estate market.
Cape Coral Market Insights Video
Before we dive into the statistics, take a moment to watch this brief video where I share key insights on the Cape Coral market and whether it's a favorable time to buy.
Watch the video here
https://youtu.be/OnPLKlfNBNo
- Median Sales Price and Price per Sq. Ft.
Over the past 12 months, Cape Coral has experienced a 7.2% decrease in the median sales price and a 4.2% dip in the price per square foot. These figures indicate a slowdown in the market, presenting opportunities for those looking to enter or invest in the Cape Coral real estate scene.
Cape Coral Median Sales Price
https://bonitaestero.stats.showingtime.com/infoserv/s-v1/WRAw-rhg
Cape Coral Price per Sq. Ft.
https://bonitaestero.stats.showingtime.com/infoserv/s-v1/WRAX-G88
- MLS-Wide Insights and Seller's Market
Zooming out to the broader Multiple Listing Service (MLS) perspective, the median sales price across the entire MLS has risen by a substantial 8.4%. However, the price per square foot has seen a modest decline of 2.2%.
- Opportunities for Buyers
Despite the overall market conditions, the good news for buyers is the availability of great deals. New builds starting at around $325,000 and pool homes as low as $330,000 offer attractive options. With less competition, buyers have a better chance of securing a deal that aligns with their preferences and budget.
- Interest Rates and Market Pause
While interest rates remain high, it's essential to note that prices in Cape Coral reflect these elevated rates. The current pause in the market presents a unique opportunity for buyers to explore options that may not have been as accessible in previous market conditions.
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