Cape Coral names #2 for Top Housing Recovery….
Cape Coral was once again named as one of the Top Housing Recovery areas in the Country. Not surprising though….
The average sale price of a 1800 square foot home is up around 31% over two years ago. Inventory is down….and Economics 101 teaches us ‘supply and demand’ (the less there is– the more expensive it is). Two years ago we were looking
at 3.7 months of inventory and today we are at about 12 weeks. With a new City like Cape Coral (Incorporated in 1970) the Building Industry is the main business focus. That is what Cape Coral has been doing … building, building, building…114 square miles of land to build and a beautiful City emerging.
But guess what? Building came to a snails pass during the past five years. So…. I compare it to…what if they stop making sneakers for five years…not many of us would notice right away…right? That is…until we needed a new pair and could not find
This is the tip of the iceberg I am seeing….no new inventory for five years….prices go up.