The June 2014 Cape Coral market report represents all sales that occurred within city limits during the month of June and are based on averages. Each zip code is represented with total number of sales for both single family homes and condos, the percentage of distressed sales that closed from the total number of sales and average list price to sales price ratio.
Inventory is still tight – around 3.5 months, less so in price points below $300,000. Days on market remains higher than most recent previous years which is a trend seen all of 2014 so far. Price appreciation has slowed considerably from 2012 & 2013. The question of impacted affordability is being discussed as the availability of homes under $125,000 dries up.
A variety of factors seem to be influencing current trends: interest rates trending higher impacting payments and ability to qualify, owners that purchased when rates were under 4% unwilling to part with that rate even though they desire moving, and first time buyers wishing to enter the market finding affordable homes that will qualify and/or sellers that are not willing to negotiate on price and closing cost assistance. First time buyers unable to find suitable homes are opting to wait which further impacts move up buyers ability to sell their homes, impacting inventory.
While it is still a great time to buy a home – rates are historically low and prices are well below the market highs – it is also a fantastic time to sell your home. Pricing is incredibly important as the “honeymoon” period only lasts about six weeks!
Selling or buying crossed your mind? Fill out the contact form below for specifics on your unique situation.
Cape Coral Zip Code 33904
Cape Coral Zip Code 33990
So what can you buy in Cape Coral for the average sales price of June 2014?
For a customized market value of your home or list of available homes fill out the form below or contact us directly at 239.541.5363.
© Danielle Sharp | Sharp Homes Realty | firstname.lastname@example.org | June 2014 Cape Coral Market