Market Statistics for Single Family Homes in Cape Coral for May 2024

It is important to know the state of the real estate market for a specific area in order to make an informed decision. As your dedicated real estate professional, I provide various metrics and data to give insight on your real estate investments.

Let’s dive into the latest data from Cape Coral to help both sellers and potential buyers make the right decisions.

Months’ Supply of Inventory: 6.6

Currently, the Months’ Supply of Inventory for Cape Coral is at 6.6. This means that it would take about 6-and-a-half months to sell all the current inventory of homes on the market while taking into account the current rate of sales. This number represents a relatively balanced market. Any lower and it would indicate a seller’s market, and any higher it would indicate a buyer’s market.

12-Month Change in Months of Inventory: +80.33%

Over the past 12 months, the inventory in Cape Coral has increased by 80.33%. This is a significant increase in the supply of homes when compared to the same time frame in 2023. This could indicate that the market in Cape Coral is shifting toward a buyers’ market. However, as seen in the months’ supply, the market remains a balanced market, but that could be leaning toward becoming a buyers’ market within the next few months.

Median Days Homes are on the Market: 54 days

On average, it takes about 54 days, or just about two months, in order for a home to sell in Cape Coral. This indicates that the market is a bit slow, supporting the claim that Cape Coral is experiencing a balanced market. If your home has been on the market for a few weeks now, consider changing up your strategy in order to attract more buyers.

List to Sold Price Percentage: 97%

While homes may be sitting on the market for a few weeks in Cape Coral, the good news is that about 97% of homes are selling at or right around their listing price. Again, this supports the fact that Cape Coral is in a balanced market, as both buyers and sellers are able to come to an agreement that is fair for both parties.

Median Sold Price: $397,000

While each home is different when it comes to its size, amenities, and overall desirability, knowing the median sold price is useful for both buyers and sellers. Knowing this number can help sellers price their home and can inform buyers if the home they are bidding on is priced correctly or not.

In Conclusion

Overall, these numbers suggest that Cape Coral is currently experiencing a healthy balance in the real estate market. If you would like to buy a home or sell your home in Cape Coral, don’t hesitate to reach out to Real Estate Expert Dianne Anderson. Not only can she provide more insights on the current state of the market, but she can help you navigate through it to ensure a successful purchase or sale.

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