January 2023 was a Neutral market for the Cape Coral real estate market! For-sale listings were up 210.2% from one year earlier and down 0.7% from the previous month. The number of sold listings decreased 32.8% year over year and decreased 9.2% month over month. And, under-contract listings were up 53.3% compared to the previous month and down 16% compared to the previous year. Below is the Cape Coral real estate market update for February 2023:
As of 2/9/23, there are currently 1326 single-family homes actively listed in Cape Coral.
In the past 7 days, there have been:
179 new listings
110 sold listings
201 pending listings
Again, the average days on market also show a neutral trend, an increase of 106.9% compared to the previous year.
There are currently 4.3 Months of Inventory based on Closed Sales, which is up 369.1% from the previous year!
Single-Family Building Permits
The City of Cape Coral issued 455 building permits in January 2023.
Equally important, the total number of building permits for the fiscal year issued so far in 2023 is 1292.
New Development Spotlight
Lake Kennedy Racquet Center
Cape Coral City Council approved the recommended bid package and corresponding contract for Charles Perry Partners, Inc. to construct Phases 1 and 2 of this project. Furthermore, construction is expected to begin in March 2023.
Regional Economic Indicators
Finally, if you have any questions about the Cape Coral real estate market update for February 2023 please do not hesitate to contact us. We are happy to help you with any real estate in Cape Coral whether it is residential or commercial. We have experience and expertise working in the Cape Coral real estate market since 1989 and want to help you with buying or selling property. Check back soon for another in-depth Cape Coral real estate market update.
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