This past year was fantastic for the Cape Coral real estate market.
Like 2009, it was a record-setting year in many regards. Cape Coral continued to lead the nation in foreclosures drawing continued national and international media attention.
Cape Coral also led the state in highest number of property sales.
Here is a brief overview of Cape's 2010 home sales.
Strong numbers
There were just under 6,000 single-family homes sold by a Realtor. That makes the number of homes sold in 2010 greater than any single year during the real estate boom (2003-06) and exceeded in history by only the sales in 2009.
Most under $200,000
Of the homes sold in 2010, 86 percent were sold for less than $200,000, the same percentage as 2009. In 2010, eight homes sold for more than $1 million, compared to seven in 2009.
Fewer distressed sales
Another interesting and exciting trend affecting home sales this year more than any other has been the decline in the number of distressed home sales. Foreclosures and pre-foreclosures (short sales) made up 73 percent of the total homes sold in 2009.
In 2010, distressed home sales accounted for 62 percent of total sales. Today's Cape Coral home inventory is made up of only 35 percent of short sales and foreclosures combined.
Decreasing inventory
In January 2007, Cape Coral had 6,073 single-family homes on the market. Today, we have 2,387 homes.
We've enjoyed a steady decline that if sustained will lead to the return of property value appreciation. Media attention continues to attract investors and future retirees to our market. Buyers want what we are blessed to enjoy each and every day at soon to be gone bargain basement prices.
Poised for good season
The new year is off to a great start.
Sales continue to be aggressive, inventory is low, interest rates are historically low and the signs are very favorable for this winter selling season.
Affordable home prices that remain below replacement cost make this an excellent time to buy.
Like 2009, it was a record-setting year in many regards. Cape Coral continued to lead the nation in foreclosures drawing continued national and international media attention.
Cape Coral also led the state in highest number of property sales.
Here is a brief overview of Cape's 2010 home sales.
Strong numbers
There were just under 6,000 single-family homes sold by a Realtor. That makes the number of homes sold in 2010 greater than any single year during the real estate boom (2003-06) and exceeded in history by only the sales in 2009.
Most under $200,000
Of the homes sold in 2010, 86 percent were sold for less than $200,000, the same percentage as 2009. In 2010, eight homes sold for more than $1 million, compared to seven in 2009.
Fewer distressed sales
Another interesting and exciting trend affecting home sales this year more than any other has been the decline in the number of distressed home sales. Foreclosures and pre-foreclosures (short sales) made up 73 percent of the total homes sold in 2009.
In 2010, distressed home sales accounted for 62 percent of total sales. Today's Cape Coral home inventory is made up of only 35 percent of short sales and foreclosures combined.
Decreasing inventory
In January 2007, Cape Coral had 6,073 single-family homes on the market. Today, we have 2,387 homes.
We've enjoyed a steady decline that if sustained will lead to the return of property value appreciation. Media attention continues to attract investors and future retirees to our market. Buyers want what we are blessed to enjoy each and every day at soon to be gone bargain basement prices.
Poised for good season
The new year is off to a great start.
Sales continue to be aggressive, inventory is low, interest rates are historically low and the signs are very favorable for this winter selling season.
Affordable home prices that remain below replacement cost make this an excellent time to buy.
No comments:
Post a Comment