The 524-acre master-planned community of Sandoval is the shining star of the Cape Coral real estate market. New construction home sales at Sandoval were up 74% in 2011 over the previous year with a total of 120 transactions. New home permits at Sandoval in 2011 accounted for 44% of all the building permits issued in Cape Coral.
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The Godfather of Lee County real estate values, Property Appraiser Ken Wilkinson, plays the straight man in this NBC-2 video about rising home prices in Lee County. I am highly confident that Ken knows exactly how much prices have gone up…..but doesn’t want to preempt his annual day in the spotlight when he releases this years valuations.
[more] →The remaining homesites in Phase Three of Cape Coral’s Sandoval community have been acquired from Bonita Bay Group by Arizona-based builder Taylor Morrison.
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The highest priced home to sell in Cape Coral in 2011 was a riverfront home located on Riverside Drive in the Yacht Club section of the Cape. This 10,500 Sq. Ft. home sold for $2,900,000. In 2011, there were 12 residential home sales in the Cape over a $1m and all were single-family homes.
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Morgan Stanley analyst Oliver Chang recently declared that 2012 will be “The Year of the Landlord.” Chang further elaborated that “Rents are rising, vacancies are falling, household formations are growing and rental supply is limited,” the Morgan Stanley report stated. “We believe the demand for rental properties will continue to grow.”
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The Fort Myers-Cape Coral market was ranked 6th nationally for the increases in the median list price of homes in the October to November 2011 time period. Median list prices increased 2.69 percent for the month
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The newest neighborhood in Cape Coral’s mater-planned Sandoval community is called Maravel. This intimate enclave features 138 single-family homes sited around several of Sandoval’s beautiful lakes.
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The News-Press reports that the City if Cape Coral is considering the interconnection of the Rubicon Canal with the Bimini Basin. This would involve extending the Rubicon Canal across both SE 47th Terrace and Cape Coral Parkway.
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With median list price increases of 34.56%, Realtor Magazine has named the Fort Myers-Cape Coral market as the top market nationally for real estate price increases for 12-month period ending September 2011. Southwest Florida dominated the price increase list with Naples and Punta Gorda also in the top five. Price increases have been driven by [...]
[more] →Fort Myers MLS Map Search
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