Is Cape Coral, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Cape Coral was a Seller's Market.
Key Takeaway
Cape Coral is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Cape Coral, FL
How much do homes in Cape Coral, FL cost?
Median Sold Price
$396,955
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cape Coral have sold for 3.1% less than they did a year ago.
Summary: The median home sold price in Cape Coral was $396,955 in May 2024, down 3.1% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $199.9K | $172K | -14.0% |
| 2 Bedrooms | $289.6K | $267K | -7.8% |
| 3 Bedrooms | $407K | $392.9K | -3.4% |
| 4 Bedrooms | $454.2K | $419K | -7.8% |
| 5+ Bedrooms | $576.7K | $575K | -0.3% |
Summary: Cape Coral housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14%, 2 bedroom homes decreased by 7.8%, 3 bedroom homes decreased by 3.4%, 4 bedroom homes decreased by 7.8%, and 5+ bedroom homes decreased by 0.3%.
Median Sold Price Compared To Nearby Cities
| Saint James City | $520K | $565K | +8.7% |
| Fort Myers | $360.9K | $369.9K | +2.5% |
| Cape Coral | $409.6K | $396.9K | -3.1% |
| North Fort Myers | $337.2K | $326.9K | -3.1% |
Housing Supply in Cape Coral, FL
How many homes are available in Cape Coral, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4,675 | 4,813 | +3.0% |
Summary: The Cape Coral real estate market had 4,813 homes for sale in May 2024, a 3.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 9 | -18.2% |
| 2 Bedrooms | 461 | 475 | +3.0% |
| 3 Bedrooms | 2,737 | 2,814 | +2.8% |
| 4 Bedrooms | 1,334 | 1,377 | +3.2% |
| 5+ Bedrooms | 132 | 138 | +4.5% |
Summary: The Cape Coral housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 18.2%, 2 bedroom homes increased by 3%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 4.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 645 | 594 | -7.9% |
Asking Price vs. Sold Price
418 Homes Were Sold
Under Asking
128 Homes Were Sold
At Asking
48 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cape Coral, you may be able to get a good deal. 70.4% of homes here sold below asking price last month.
Summary: A total of 594 homes were sold or pending in Cape Coral in May 2024, down by 7.9% month-over-month. Of the 594 sold homes, 70% were sold under asking, 22% were sold at asking, and 8% were sold over asking.
Days on Market for Cape Coral, FL
How long does it take to sell a home in Cape Coral, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 50 Days | 72 Days | +43.8% |
Summary: Homes in Cape Coral had an average of 72 days on market in May 2024, up by 43.8% compared to last year.
Breakdown of Home Sale Times
221 Homes Were Sold
Under 30 Days
203 Homes Were Sold
In 30 - 90 Days
170 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cape Coral are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 594 homes were sold in Cape Coral; 37% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
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Copyright © 2024 Multiple Listing Service of South Brevard, Inc. and Space Coast Association of REALTORS, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity™ Program of Space Coast Multiple Listing Service. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Deemed Reliable But Not Guaranteed. Real estate listings held by brokerage firms other this broker are marked with the Broker Reciprocity™ logo or the Broker Reciprocity™ thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Some properties which appear for sale on this web site may subsequently have sold and may no longer be available.