Cape Coral Real Estate Market Improving As Confidence Grows
It’s as if the traditionally busy winter shopping season never stopped for Cape Coral real estate. Over the past few years Cape Coral real estate agents have grown used to a spike in home sales during the winter season followed by lulls in the later part of spring and summer. But this year the busy winter shopping season has continued on into the spring. Craig Cunha, a real estate agent with Blue Water Realty of Southwest Florida, has noticed that rising buyer demand is causing a lack of inventory while the volume of sales just continues to press forward.
We asked Dustin Gardner, a real estate agent with Schooner Bay Realty, Inc, for his thoughts on the Cape Coral real estate market and he says “supply is shrinking and there’s still a lot of pent up demand.” And he went on to say that “people are beginning to realize the bottom is here, and they want to get in now because they feel prices are going to be heading upwards.”
Adding strength to the idea that the Cape Coral real estate market is improving, James Sommers of Miloff Aubuchon Realty Group, has noticed that more and more homes are being built. He pointed out that there’s a lot more new building permits being pulled than in the past few years. He said, “it’s as if buyers are fighting over the same properties, with more and more homes seeing multiple offers now.” Home builders are seeing this trend, and they’re trying to capitalize by meeting demand and putting up more homes.
What’s behind this surging interest in Cape Coral real estate? “There’s a noticeable change in confidence, the whole economic situation is improving” said Terrence Trombetti, a real estate agent with Gulf Coast Realty Network. He believes Florida is poised for a comeback, and that the last crash in home prices essentially pulled property values back in line where they should have been had they not risen at such an unsustainable level during the boom. He sees low mortgage rates, low homes prices and improving employment as reasons as to why the market is making its come back now.
Adrian Waring, a local agent that selling Cape Coral real estate with Priceless Realty LLC, agrees that the market has really picked up and is continuing to see an increase in home sales even into the normally slow spring season. He said “he feels like he’s at least twice as busy as he was this time last year.”
Before mortgage rates and home prices start to go up, potential home buyers of Cape Coral real estate may want to check in with their local real estate agents.