Geri and Bob Quinn

The Cape’s blistering, record-setting pace in both the number of closed single-family home sales and median sales prices in 2021 continued, as expected, during April. In fact, this was the first time in Cape Coral history that the median sales price for single-family homes in our overall market topped $300,000 in each of the first four months of any year, easily eclipsing the prior average median sales price high of $279,583 per month over the first four months of 2006. As you look at some of the outsized percentage gains shown below compared to a year ago, keep in mind that our real estate numbers took their first big COVID-19-related shutdown hits in April of last year, before bottoming out in May 2020.

As of May 24, there were 357 active single-family home listings in the Cape at asking prices ranging from $188,500 to $5.995 million. This is up from 314 active listings on March 24, and similar to the 354 active listings on Feb. 24, while still down 43.51 percent from the 632 active listings from back on Dec. 21, 2020. The pipeline of pending sales remains solid.

In the overall Cape Coral single-family home market, there were 731 closed home sales in April, which was 68.05 percent higher than the 435 closed sales in April 2020, and 11.09 percent more than the 658 closed sales in March of this year. In the first four months of 2021, there were a total of 2,298 closed sales in the Cape’s overall single-family home market, which was 37.19 percent higher than the 1,675 closed sales in the first four months of 2020. This was the highest level of closed home sales over the first four months of any year in history in the overall Cape Coral single-family home market.

The median sales price in the overall Cape Coral single-family home market was $336,500 in April, or 34.6 percent higher than the $250,000 posted in April 2020, and up 4.99 percent from $320,500 in March of this year. As a comparison, according to the National Association of Realtors, the median existing single-family home price from across the U.S. was $347,400 in April, or 20.3 percent higher than in April 2020. While the Florida Realtors Association reported that the April median sales price for single-family existing homes throughout the Sunshine State was up 22.4 percent to $336,525 versus April 2020. Shifting back to Cape Coral, in the first four months of 2021 the overall median sales price for single-family homes averaged $318,475 per month, which was 26.74 percent higher than the average of $251,275 per month in the first four months of 2020.

Indirect gulf access canal homes

In the Cape Coral single-family indirect gulf access canal home segment (meaning canal homes with bridges in the canal system), there were 77 closed home sales in April, which was 97.44 percent higher than the 39 closed sales in April 2020, but 13.48 percent below the 89 closed sales in March of this year. In the first four months of 2021, there were 290 closed sales in this segment, or 76.83 percent more than the 164 sales in the first four months of 2020.

The median sales price in the Cape’s single-family indirect gulf access canal home segment was $621,000 in April, which topped the $435,000 posted in April 2020 by 42.76 percent, and it was 10.89 percent higher than the $560,000 in March of this year. In the first four months of this year, the median sales price in this segment averaged $574,750 per month, or 29.56 percent above the average of $443,613 per month in the first four months of 2020.

Direct sailboat access canal homes

In the Cape Coral single-family direct sailboat access canal home segment (homes with no bridges in the canals to reach open water), there were 87 closed home sales in April. This was 93.33 percent higher than the 45 closed sales in April 2020, and 40.32 percent above the 62 sales in March of this year. In the first four months of 2021, there were 266 closed sales in this segment, or 46.15 percent above the 182 sales in the first four months of 2020.

The median sales price in the Cape’s single-family direct sailboat access canal home segment was $719,900 in April, or 56.5 percent above the $460,000 in April 2020, and 19.39 percent higher than the $603,000 in March of this year. In the first four months of 2021, the median sales price in this segment averaged $643,213 per month, or 35.63 percent more than the average of $474,250 per month in the first four months of 2020.

Freshwater canal homes

In the Cape Coral single-family freshwater canal home segment, which consists of landlocked canals with no boating access to the river or the Gulf of Mexico, there were 82 closed home sales in April. This was 32.26 percent higher than the 62 closed sales in April 2020, and up 15.49 percent from the 71 closed sales in March of this year. In the first four months of 2021, there were 265 closed sales in this segment, or 26.79 percent more than the 209 sales in the first four months of 2020.

The median sales price in the Cape’s single-family freshwater canal home segment was $399,950 in April, or 33.54 percent above the $299,500 posted in April 2020, and 1.25 percent higher than the $395,000 in March of this year. In the first four months of 2021, the median sales price in this segment averaged $378,725 per month, or 24.09 percent more than the average of $305,213 per month in the first four months of 2020.

Dry lot homes

In the Cape Coral single-family dry lot (non-canal) home segment, there were 483 closed home sales in April, which was 71.28 percent higher than the 282 closed sales in April 2020, and 13.11 percent above the 427 closed sales in March of this year. In the first four months of 2021, there were 1,458 closed sales in this segment, or 31.83 percent more than the 1,106 closed sales in the first four months of 2020.

The median sales price in this segment was $281,500 in April, or 24.83 percent above the $225,500 posted in April of 2020, and up 4.65 percent from $269,000 in March of this year. In the first four months of 2021, the median sales price for dry lot homes in the Cape averaged $265,875 per month, or 18.46 percent more than the average of $224,451 per month in the first four months of 2020.

The sales data for this article was obtained from the Florida Realtors Multiple Listing Service Matrix for Lee County, Fla., as of May 24, 2021. 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 41 years. Geri has been a full-time Realtor since 2005, and Bob joined Geri as a full-time Realtor in 2014. Their real estate practice is mainly focused on Cape Coral residential property and vacant lots.