With a population of 179,000, and located on the sunny Gulf of Mexico, Cape Coral is an excellent place to purchase a home.
Whether you’re moving to the area to retire or start a new chapter, you’ll never run out of things to do in Cape Coral. From pristine beaches to nature parks to shopping, there is truly something for everyone.
Cape Coral is only a short ride away from the bright lights of Miami, and even closer to The Big Guava (Tampa), making it an excellent place to rest your head if you want to amenities of a city without living in one.
The weather in Cape Coral is mild, with hot summers and mild winters.
The Cape Coral real estate market is also relatively inexpensive compared to the rest of the country and other cities around it.
Read on for a short guide to the homes available in the area and how much you can expect to spend.
Median Home Price in the Cape Coral Real Estate Market
In 2016, the median house and condo value were $212,600. This is a touch more than the median home pricing in Florida, which clocked in at $197,000 in the same year.
In July 2018, the median list price rose to $258,500 with most of these homes selling for $222,900.
The median list price in the United States is $279,500 and sale price $231,700, putting Cape Coral just below the median line. This means that you won’t have to break the bank to purchase yourself or your family a beautiful new home.
Are Prices Increasing or Decreasing?
Housing markets typically follow trends, meaning they trend upward or downward at specific times. The best time to purchase is during a price decrease, while the best time to sell is when the prices are increasing.
Currently, the prices for homes in Cape Coral are increasing. According to Trulia, the price per square foot has risen 6 percent since last year. This is not a major increase, however, meaning it is still a bit of a buyer’s market.
What About Renting?
If you can’t or don’t want to take the plunge and buy a property, you can rent. The median rent for the summer of 2018 was $1495 per month. This has raised significantly from its 2016 median price of $1,174 per month.
What Can I Get for My Money in Cape Coral?
A home within the median sale price for the city typically sits on a quarter acre lot. They are often single story, with three bedrooms and two to three bathrooms. Some may feature a pool, but this is more often the more expensive properties.
Most homes that sit in this price range are about 2,000 square feet, some a little bigger and some a little smaller.
Homes double and triple the price will offer double and triple the space.
What Should I Know About Moving to Cape Coral?
When moving to Cape Coral, you should be ready to know what kind of house you are looking for and how much you are prepared to spend. Having this information ready when you meet with a realtor will make the process go along much more smoothly.
For more information on the Cape Coral real estate market or the neighboring city of Fort Myers, visit our blog.