Real Estate Market in Cape Coral, Florida
Understanding Buying Real Estate in Florida
- Population: 154,000
- Condo: $80,000 – $380,000
- Family Home: $160,000 – $5M
- Waterfront: $500,000 – $5M
- Investment Potential Rating: ***
- Nearest International Airport: Southwest Florida International Airport – 14 miles.
Not far from Fort Myers lies Cape Coral, another popular international property investment destination. Cape Coral was founded in 1957 and was a completely pre-planned city which makes it unusual. It’s the largest city between Tampa and Miami and is referred to as a ‘waterfront wonderland’ as it has over 400 miles of waterways.
In fact, Cape Coral is the city with the largest number of canals in the world. This makes it a great investment destination for those who enjoy canal side living, fishing and wildlife. Cape Coral’s golf courses, and Gulf Coast beaches are also a major draw and the city also has a popular water park. Since the 1990s Cape Coral has attracted a younger crowd and more families, as employment opportunities have increased.
Twenty percent of the population is also seasonal, which points to a good retirement, holiday and tourism investment potential. The summers in Cape Coral are very warm, humid and rainy, while the winters are dry with moderate temperatures.
Cape Coral Property Market Summary
Cape Coral experienced a nearly 40 percent drop in its median house price at the lowest point during the recession. However, while not back up to those heady bubble heights, the market has recovered steadily, with the median house price now reaching $200,000, a 14 percent increase on the previous year. Inventory is steadily decreasing as well, all good signs of a market on the up and investment potential.