After a slow start last January, the sales momentum accelerated in the Cape Coral single-family home market, leading to a record number of closed sales for the year in 2019. We also had record fourth quarter sales, along with record numbers of closed sales for the month of December, except in the dry lot home segment, which fell shy of its record 333 sales in December 2017. The yearly average for median sales prices posted modest gains last year versus 2018, except in the sailboat access canal home segment, where the median sales price was down a bit. As we have previously noted, barring any unexpected surprises, the Cape Coral single-family home market appears to be poised for a big year in 2020.

In the overall Cape Coral single-family home market, there were 464 closed home sales in December, which was up 41.46 percent from the 328 homes sold in December 2018. This topped the prior December highs of 440 closed sales in 2017, and 411 sales in 2015. In the fourth quarter of 2019, there were 1,243 closed sales, up 19.63 percent compared to the 1,039 sales in the fourth quarter of 2018. As a side note, the second quarter was the best quarter in 2019, with 1,578 sales. For the year, there were 5,331 single-family homes sold in the Cape in 2019, which was 6.53 percent above the 5,004 homes sold during 2018.

The median sales price in the overall Cape Coral single-family home market was $255,000 in December, which was up 8.4 percent from the $235,250 posted in December 2018. In the fourth quarter, the median sales price averaged $249,667 per month, which was 5.9 percent above the average of $235,750 per month in the fourth quarter of 2018. For the year, the median sales price in the Cape’s overall single-family home market averaged $244,928 per month in 2019, up 3.37 percent from the yearly average of $236,934 per month in 2018.

Gulf access canal homes

In the Cape’s single-family gulf access canal home segment, there were 109 closed sales in December, which was 91.23 percent higher than the 57 closed sales in December 2018. The fourth quarter registered 264 closed sales in this segment, which topped the 169 sales in the fourth quarter of 2018 by 56.21 percent. For the year, there were a total of 1,137 gulf access homes sold in 2019, which was up 21.09 percent versus the 939 homes sold in 2018.

The median sales price in the Cape Coral single-family gulf access canal home segment came in at $439,000 in December, which was up 7.86 percent from the $407,000 posted in December 2018. In the fourth quarter of 2019, the median sales price in this segment averaged $444,500 per month, which was 2.42 percent above the average of $434,000 per month in the fourth quarter of 2018. For the year, the median sales price in the Cape’s single-family gulf access home segment averaged $435,204 per month in 2019, or only 0.84 percent higher than the average of $431,583 per month for the full year in 2018.

Sailboat access canal homes

In the Cape’s single-family sailboat access canal home segment, which is a subgroup of gulf access homes, there were 41 closed sales in December, which was 28.13 percent higher than the 32 sales in December 2018. In the fourth quarter, there were 116 closed sales in this segment, which beat the 76 sales in the fourth quarter of 2018 by 52.63 percent. For the year, there were a total of 525 sailboat access homes sold in 2019, which was 18.51 percent higher than the 443 homes sold in 2018.

The median sales price in the Cape Coral single-family sailboat access canal home segment came in at $449,900 in December, which was up 3.78 percent from the $433,500 posted in December 2018. In the fourth quarter of 2019, the median sales price in this segment averaged $433,633 per month, which was down 4.17 percent from the average of $452,500 per month in the fourth quarter of 2018. For the year, the median sales price in the Cape’s single-family sailboat access home segment averaged $437,617 per month in 2019, or 1.76 percent less than the average of $445,450 per month for the year in 2018.

Freshwater canal homes

In the Cape’s single-family freshwater canal home segment, there were 52 closed sales in December, which was 57.58 percent higher than the 33 sales in December 2018. In the fourth quarter, there were 121 closed sales in this segment, which was 6.14 percent above the 114 sales in the fourth quarter of 2018. For the year, there were a total of 578 freshwater canal homes sold in 2019, topping the 530 homes sold in 2018 by 9.06 percent.

The median sales price in the Cape Coral single-family freshwater canal home segment came in at $293,750 in December, which was up 3.07 percent from the $285,000 posted in December 2018. In the fourth quarter of 2019, the median sales price in this segment averaged $287,583 per month, beating the average of $283,932 per month in the fourth quarter of 2018 by 1.29 percent. For the year, the median sales price in the Cape’s single-family freshwater canal home segment averaged $289,829 per month in 2019, or 3.64 percent higher than the average of $279,658 per month for the year in 2018.

Dry lot homes

In the Cape’s single-family dry lot (non-canal) home segment, there were 303 closed sales in December, which was 27.31 percent higher than the 238 sales in December 2018. There were 858 closed sales in this segment during the fourth quarter, which beat the 756 sales in the fourth quarter of 2018 by 13.49 percent. For the year, there were a total of 3,611 dry lot homes sold in 2019, which was 2.18 percent higher than the 3,534 homes sold in 2018.

The median sales price in the Cape Coral single-family dry lot home segment came in at $225,000 in December, which was up 3.47 percent from the $217,450 posted in December 2018. In the fourth quarter of 2019, the median sales price in this segment averaged $225,667 per month, or 3.76 percent above the average of $217,483 per month in the fourth quarter of 2018. For the year, the median sales price in the Cape’s single-family dry lot home segment averaged $220,446 per month in 2019, which was 1.89 percent higher than the average of $216,357 per month for the full year in 2018.

(The sales data for this article was obtained from the Florida Realtors Multiple Listing Service Matrix for Lee County, Fla., as of Jan. 19, 2020. It was compiled by Bob and Geri Quinn and it includes information specifically for Cape Coral single-family homes, and does not include condominiums, short sales or foreclosures. The data and statistics are believed to be reliable, however, they could be updated and revised periodically, and are subject to change without notice. The Quinns are a husband and wife real estate team with the RE/MAX Realty Team office in Cape Coral. They have lived in Cape Coral for over 40 years. Geri has been a full-time Realtor since 2005, and Bob joined with Geri as a full-time Realtor in 2014. Their real estate practice is mainly focused on Cape Coral residential property and vacant lots.)