Cape Coral, FL housing market

Cape Coral home values are down about 4 percent, and one in four listings just cut its price. Here is what that means if you are thinking about selling this year. The typical Cape Coral home is now worth about three hundred thirty-two thousand dollars, down just over 4 percent from a year ago. That is a real decline, not a rounding error, and it has been building while inventory piled up. There are roughly two thousand six hundred homes for sale right now, and buyers are taking their time with all that choice. The typical home sits for about 83 days before going under contract, close to three months of showings, waiting, and carrying costs. But here is the number that explains the rest. The median list price is about four hundred five thousand dollars, far above that three hundred thirty-two thousand dollars typical value. Many sellers are still pricing for a market that has already moved on. That gap is why nearly a quarter of all listings, about 25 percent, have had to cut their asking price to find a buyer. So if you sell, price off what homes are actually selling for, not what the neighbors are asking. A home priced right still sells here; one priced at the old peak will sit, then cut, then sit longer. To see where your home stands in today's Cape Coral market, get a free home value estimate at Home Value Pros dot com.