$2.9M - Cape Coral's highest-priced home sale in 2011

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.  All of these homes were located in a waterfront setting and were located either south of Cape Coral Parkway or east of Del Prado Boulevard in Cape Coral gulf access neighborhoods.            

             Price                  Address                       Neighborhood   BR    BA    Sq Ft

1. $2,900,000      5649 Riverside Dr                  Yacht Club             6        9       10,500
2. $2,625,000      5845 Armada Ct                      Cape Harbour       5         7       6,690
3. $2,500,000      6054 Tarpon Estates Blvd    Tarpon Point         4         4       4,368
4. $1,300,000      5656 Yardarm Ct                     Cape Harbour       4         4       4,336
5. $1,300,000      5824 Harbour Preserve Cir   Cape Harbour       4         4       4,135
6. $1,250,000       1637 Edith Esplanade            Yacht Club             4         4        5,379
7. $1,250,000      4402 SE 20th Ave                    Gold Coast             5         8        5,006
8. $1,175,000       510 SW 52nd St                        Gold Coast             3         4        3,803
9. $1,135,000       1641 Edith Esplanade             Yacht Club             4          5        4,262
10. $1,125,000        1511 Hermitage Ln                 Hermitage              4         6        3,422

The most expensive home to sell in Lee County, Florida during February 2011 was a Cape Coral single-family waterfront estate home located within the Harbour Preserve neighborhood of Cape Harbour.  This 6,690 SF is located at 5845 Armada Court, Cape Coral, FL and features 5 BR / 7 BA.  The home was on the market for 100 days.  The selling price was $2.625M / $392 SF, which was 80% of asking price.

Congratulation to selling Realtor Jim Peterson of Miloff Aubuchon Realty Group for closing the most expensive residential property in February 2011.

Honorable mention for 2nd most expensive Lee County residential property sold in February 2011 was a Fort Myers Beach single-family homes located directly on the Gulf of Mexico in the McPhie Park neighborhood.  This 4,164 SF home located at 5820 Estero Boulevard, Fort Myers Beach, FL features 5 BR / 4 BA.  This home was on the market for 1198 days.  The selling price was $2M / $480 SF, which was 154% of asking price.

Congratulations to selling Realtor Jeff G. Tyson of Sellstate Landmark Properties for closing this transaction.

In February 2011, there were seventeen residential transactions in Lee County with a selling price over $1M, up from seven in January, 11 in December 2010, five in November 2010 and seven in October 2010.  The Fort Myers luxury market was up considerably last month.

Here is a resource if you are interested in learning more about Fort Myers luxury homes that are currently listed for sale.

In TV terms the wonderful suburban neighborhoods of Leave It To Beaver, The Brady Bunch and Bewitched are fading and the urban lifestyles of the Odd Couple, Mary Tyler Moore and Frazier are coming of age.

What does this mean for the Southwest Florida and the greater Fort Myers area?  While no one is ever going to confuse Southwest Florida with the Upper West Side, we do have some really dynamic urban areas like 5th Avenue in Naples.  In recent years, a handful of urban-oriented projects have been developed or renovated that address this shifting lifestyle demographic.

Developments in the Fort Myers area offering an urban lifestyle experience include:

High Point Place – Riverfront high-rise in downtown Fort Myers walk to restaurants, Publix, Starbucks, offices, parks, theatres and museums.

Residences at Coconut Point – Condos located on the upper-levels of the Coconut Point Mall which has emerged as the destination in South Lee County.

Rapallo – Gated condos and villas adjacent and very walkable to the dynamic Coconut Point Mall

Cape Harbour – Waterfront boating community with vibrant boardwalk featuring restaurants, retail and community events.

Patio De Leon – Downtown Fort Myers renovated historic condos located above commercial space.

Earnhardt Condominiums – Downtown Fort Myers renovated historic condos located above commercial space

When the market turns and development starts up again, it would sure be wonderful to see more project like these completed rather than starter homes on random 1/4 acre plated lots in the hinterlands.

One of the most active search terms on my Southwest Florida real estate website is the phrase “Cape Coral gated communities.”  Every month hundreds Google this phrase in their quest to learn more about gated communities in Cape Coral.

What is it about cape Coral gated communities that draws so many property shoppers?

One of the challenges in Southwest Florida’s most populous city is an overabundance of cookie-cutter plated neighborhoods laid out in a grid that look the same block after block……street after street.  Gated communities bring a sense of change to Cape Coral with a more natural and flowing feel.  Many gated communities are richly landscaped and have lakes and other water features that add a sense of beauty to the neighborhood.  Walking, jogging and biking paths are often an amenity found in a gated community and offer residents a place to both exercise and socialize.

Gated communities often have deed restrictions which help to uphold property values by placing restrictions on what can be stored or parked in a yard, and changes that can be made to the property.  Most gated communities also have city utilities in-place, removing the uncertainty over future expense that is impacting so much of Cape Coral.  Gated communities also restrict access, offering a level of security not available in other parts of the city.

With large parcels of land in limited supply due to its plated layout, Cape Coral has significantly fewer gated communities than other Southwest Florida communities like Fort Myers, Estero and Naples.

Luxury gated communities in Cape Coral include Cape Harbour, Tarpon Point and the Hermitage.  These communities are located in the Southwest corner of the Cape and offer wonderful deep-water boating opportunities.

Family friendly gated communities include Heatherwood Lakes and Coral Lakes.  Both have an inventory of larger four and five bedroom homes designed to accommodate growing families.

Upscale gated communities include Sandoval and Cape Royal.  Sandoval is known for its with its resort-style amenities and Cape Royal is recognized as the Cape’s only country club community.

The selling price was $2.2M / $287 SF. Congratulations to selling Realtor Tia Farhat of RE/MAX Anchor Realty for closing the most expensive home in December 2008!

Honorable mention for 2nd most expensive Lee County home sold in December was a waterfront home also located in the Harbour Preserve section of Cape Harbour. This sailboat access home, located 5736 Harbour Preserve Cir, Cape Coral offers is 5,015 SF and features 5BR and 5BA.

The selling price was $2M / $398 SF. Congratulations to Friedrich G Heindl of FGH Realty, LLC for closing this transaction.

Mighty impressive for two homes in the prestigious Cape Harbour community to top the list of the most expensive homes to sell in Lee County during the month of December 2008. With five restaurants, a full service marina and an extensive roster of amenities, Cape Harbour is the place to be in Southwest Florida.

The first tower at Cape Harbour’s 15 story Marina South is completed and residents started moving in on Friday. This project, which features retail establishments on the ground floor, is another notch in Cape Coral’s coming of age. A second matching tower will be opening in May 2007.

Back in March 2005 when the pre-sale was held via lottery, Marina South sold out in just hours. In city yearning for upscale ammenities, Marina South offers a new lifestyle choice for its residents.

Currently Marina South units are available from the the high $300,000s through $1M.

Unique condo community welcomes its first residents [News-Press]

The cranes that are so visible in Southwest Cape Coral are not going away anytime soon. The developer of Marina South at Cape Harbour had such great results in marketing the first tower that they are accelerating plans for a second high-rise.

Condos in the 15 story Marina South II are expected to sell for between $300,000 and $500,000 and have views of the Gulf of Mexico or the Marina. Plans also call for a 100 room hotel to be built on the site.

Great demand leads to Marina South II [News-Press]