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Latest update on real estate market conditions in Southwest Florida 

Values Continue to Increase

Sellers Enjoying Real Estate Market

It has now been 5 years that the Southwest Florida real estate market has been in full rebound mode. We've witnessed an astonishing rate of increase, highly welcomed by property owners who endured the market crash of 2007-2010. The chart below demonstrates the average sales prices in Cape Coral over the past 5 years. Home prices on average have increased approximately $100,000. Despite the sizeable gains, we have still not reached the lofty heights of 2005-06.

The next few months are forecast to slow in terms of the number of sales, and prices should stabilize. We are bound to see another market correction considering the consecutive years of price increases, but in the mean time, sellers will continue to enjoy higher prices on their property.
     

                       5-Year Average Sale Prices  

 
D R Horton Eyeing Former Golf Course for Community
Frank Bumb, News-Press

A battle is brewing between a company with revenues of more than $10 billion and a small group of homeowners, wildlife groups and recreation enthusiasts.

The battleground? Some of the last open green space in Cape Coral. The Golf Club, a 175-acre site at 4003 Palm Tree Blvd., has sat closed for nearly a decade. But D.R. Horton — the No. 1 homebuilder in America, according to Builder Online — told Cape Coral city staff in March it was the contract purchaser of the former golf club property from Ryan Cos. US Inc.

Jonathan Pentecost, division president of Southwest Florida for D.R. Horton, told city staff that there was no specific site plan but that the intent for the property was a single-family residential development. “DR Horton is evaluating this property and meeting with concerned stakeholders about developing a high quality residential community that respects the historical nature of the property, its designation within the CRA and the limited funding available for public land expansion,” Pentecost said in an email.

Barth Wolf, a neighbor to the golf course property, is president of SaveOurRecreation.us. The group comprises property owners near the golf course, environmental groups and other community groups campaigning to preserve the golf course as a recreation and wildlife destination. “We think it makes sense to keep this as a green space for generations to come,” Wolf said. “Once you put 600 homes in there, it’s gone forever.”

D.R. Horton did not provide a time frame for when it would make a decision on a site design. But the lure of pent-up demand for planned communities may be too much to resist for D.R. Horton, regardless of pleas for a public green space. Randy Thibaut, CEO of Land Solutions Inc., said the timing and demand for the Cape Coral market are ideal for a deed-restricted community.


Have any Family or Friends interested in Southwest Florida?

I would be more than happy to send them information or include them in this mailer. Please do not hesitate to contact me if you or any friends or family have questions or would like to learn more about beautiful Southwest Florida.

 

Brian Fox
REALTOR
Sellstate Priority Realty

"Let me Hunt the Deals for you!"

239-246-3991 anytime
foxrealestate@comcast.net


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