The month of October in 2011 brought 59 sales for Cape Coral zip code 33909 compared to October 2010’s total of 56. Distressed sales made up 55.9% of all 59 transactions. The decline in distressed sales is a combination of court cases being pushed through Lee county’s system and a halt to foreclosure processing on behalf of banks & robo-signing.
Sales have declined significantly year over year while average sold price climbed 16.73%. The average price per square foot rose 10.2%. Days on market has increased from 75 to 98 days. As inventory decreases and demand remains flat prices will continue to climb.
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