Is The Cape, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing The Cape is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, The Cape has remained a Seller's Market.

Key Takeaway

The Cape is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in The Cape, FL

How much do homes in The Cape, FL cost?

Median Sold Price

$375,000

$187/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$8,891(-2.3%)

Key Takeaway

Homes in The Cape have sold for 2.3% less than they did a year ago.

Summary: The median home sold price in The Cape was $375,000 in March 2024, down 2.3% from last year, and the median price per square foot was $187.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 --
N/A
3 $340K$335K
-1.5%
4 $395K$397.5K
+0.6%
5+ $447.5K$455.9K
+1.9%

Summary: The Cape housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 1.5%, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes increased by 1.9%.

Median Sold Price Compared To Nearby Neighborhoods

The Cape
-2.3%
Eagles Hammock
-4.1%
Amelia View
-4.7%

Housing Supply in The Cape, FL

How many homes are available in The Cape, FL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
4138-7.3%

Summary: The The Cape real estate market had 38 homes for sale in March 2024, a 7.3% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 11
0.0%
3 1311
-15.4%
4 2018
-10.0%
5+ 78
+14.3%

Summary: The The Cape housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 15.4%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1011+10.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in The Cape, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in The Cape in March 2024, up by 10.0% month-over-month. Of the 11 sold homes, 55% were sold under asking, 27% were sold at asking, and 18% were sold over asking.

Days on Market for The Cape, FL

How long does it take to sell a home in The Cape, FL?

Average Sale Time

Mar 2023Mar 2024CHANGE
88 Days61 Days-31.1%

Summary: Homes in The Cape had an average of 61 days on market in Mar 2024, down by 31.1% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in The Cape are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 11 homes were sold in The Cape; 45% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 29 Days Ago

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