Kat's Blog

Cape Coral, FL Market Trends
August 18th, 2008 7:25 AM
St.Cert. Res. REA RD4424
 
The following chart shows the average sales trends at $/Sq.Ft. for Off-Water Single Family homes in Cape Coral, Florida.
 
This chart was created by including only off-water single family homes that are 1-5 years of age at the time of their sale and were from 1400-1800 sq.ft. in living area, which are typical for the area.  What does this chart mean?  Let's look at the hard truth...
 
The following chart depicts the annual cumulative change in Average Sales prices by percentage of off-water single family homes in Cape Coral, FL.  Year to date the prices have declined 35% in one year.  The sharpest decline was from October 2007 through January 2008 where values declined 17%+/- in a three month time frame.  Since January this decline has slowed to 2%-3% per month.
Cape Coral has not only been hit with the Real Estate Crisis but the collapse of the only industry in SW Florida, Construction.  With 8.4% of Lee County is unemployed there is just few with money to buy homes at any price!  http://www.news-press.com/apps/pbcs.dll/article?AID=200880815022 
More more information on the SW Florida Marketplace, visit Kat at her website http://www.leecountyappraisal.com/.
Kat is your SW Florida Real Estate Market Expert.  Specializing in Estate and Waterfront Properties. 
  
Kathleen Bryce
http://www.leecountyappraisals.com State Certified Real Estate Appraiser RD4424
Phone 239-940-2225
Fax 239-275-4130
Email Me.
Posted by Kathleen Bryce on August 18th, 2008 7:25 AMPost a Comment (0)

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