year over year . Foreclosure and REO sales declined 16.6 percent from 2014 to 2015 while short sales dropped by more than half : 51.2 percent .
And properties are moving into new owners ’ hands at an impressive rate . The median days on the market for singlefamily homes dropped as high as 57 percent for homes in the $ 100,000 to $ 149,999 range — to 15 days . Homes priced from $ 600,000 to $ 1 million remained on the market much longer , up to 125 days .
“ The million-dollar-plus price point has been the slowest to recover from the housing market follies , leaving a lingering amount of home inventory . When inventory is high , a savvy home buyer has the greatest opportunity to capitalize on their investment ,” says Hellenbrand , president of the Cape Coral Association of Realtors . “ As more and more buyers become priced out of the super luxurious Naples and Marco Island markets , they will see that they can achieve the lifestyle , amenities and value in the opportunities to be found in the Cape .”
During the past year , the largest inventory available in the metro area has been for homes valued $ 100,000 to $ 199,999 , according to Florida Realtors . There were just over a dozen valued at less than $ 50,000 , showing a 60 percent decline
Funcast
TEMPERATURE RAINFALL
High Low Avg . Average in inches January 74.3 53.8 64.1 1.8 February 75.8 54.7 65.2 2.0 March 79.7 58.5 69.1 2.5 April 84.0 62.3 73.2 2.0 May 88.1 67.4 77.8 3.6 June 90.0 72.1 81.0 9.3 July 90.5 73.8 82.2 8.7 August 90.8 74.2 82.5 8.8 September 89.2 73.4 81.3 8.3 October 85.1 68.2 76.7 3.6 November 79.6 60.4 70.0 1.4
December 75.3 55.2 65.3 1.6 ANNUAL 83.5 64.5 74.0 53.6
SOURCE : Weatherbase from the previous year . On the other hand , there were increases in inventory across the board from homes from $ 400,000 to more than $ 1 million .
Something for Everyone
Cape Coral ’ s selection of housing ranges from easy-maintenance condos near shopping and dining to single-family homes in traditional neighborhoods to high-end gated properties with amazing water views .
If you want views of the Caloosahatchee River or Pine Island Sound , you won ’ t be disappointed . The Cape ’ s abundant canals make it possible for buyers to own a property with access to the river or the Gulf of Mexico . For homeowners who are not located directly on the water , the city ’ s park system makes it easy for residents to launch their boats at various locations .
Buying a home in Cape Coral can allow you to enjoy a certain lifestyle . You can have a boat — or two — docked in your backyard . Residents relish their short drives home from the office because they can take a sunset cruise within minutes of arriving home after a busy workday . Of course , it ’ s simple to tool out onto the water for lunch at a local island or marina , or to spend a day on Sanibel Island or Fort Myers Beach . Imagine anchoring off the beach , throwing a chair in the sand and hanging out for the day .
Prices are higher in areas with Gulf access and in newer communities such as Cape Harbour and Tarpon Point Marina . Both feature a variety of homes , from condos to single-family houses , as well as waterfront dining and shops . Tarpon Point also is home to The Westin Cape Coral Resort at Marina Village , a world-class destination .
Housing inventory has shrunk as the number of homes on the market began dropping , so there ’ s more urgency in buying today . Since prices are on the rise , some people are buying , even if they don ’ t plan to move here for a few years , so they can get today ’ s prices . “ Right now , residential building is really booming . If the buyers are not in retirement age , they are now thinking of moving their business here or having a satellite location ,” says Deems , noting that brutal polar vortexes in the north may be fueling the boom . “ We ’ ve had serious winters in the states that feed Lee County . Sometimes they can get really frustrated when they can ’ t get out on a plane because their flights are cancelled .” capecoralchamber . com 10