The just released new home building permit data by the city of Cape Coral Florida through October 2011 remains encouraging. As indicated in my last blog, 2011 will be the best year for building permits since 2007. There were 21 new single family permits issued for the month of October. The 2011 year to date total for Cape Coral, Fl is 223. That number already exceeds the total permits issued for any of the last three years. It puts 2011 eight ahead of the 215 total issued in 2010 with two months remaining.
Sandoval continued to drive the new home permit data for Cape Coral in October. The amenity rich community accounted for 9 of the 21 permits issued. You can view the MLS listings for Sandoval by clicking here or learn about the community amenities and view over 60 photos by clicking here.
It certainly appears like Cape Coral, Fl is in the early stages of a housing recovery. Inventories are also way down from the 2007-2009 period where foreclosures and short sales caused the number of listed homes on the market to exceed 10,000. Resale properties have leveled off to the 1400-1500 range for single family homes since July. Buyers are returning slowly but surely according to the data. Why not? Cape Coral still has its 400 miles of canals, the Caloosahatchee River, Gulf of Mexico, proximity to Naples, Fl and Fort Myers, Fl and desirable Southwest Florida climate to attract those seeking to purchase at a 50% discount compared to a few years ago.
New single family home building permits are just one indicator pointing to a housing recovery. Going back as far as 2007, when 824 building permits were issued, permits trended steeply downward in 2008 (209) and 2009 (180). The year 2010 (215) saw a return to 2008 levels. Thankfully, 2011 is the best year of the last four years for new home building.
“We appear to be well on our way out of the real estate crash”, said Michael Rogala a Realtor® who specializes in Cape Coral and Fort Myers, Florida properties, “I’m encouraged by the building now taking place in Cape Coral, Fl. Gulf access, no-bridge lots on the spreader are selling again. Several have sold for over $300,000 in the last few months.” Visit Mike’s website for more information on eight fabulous featured communities, including Sandoval, plus prestigious waterfront dream lots and homes by clicking here.
The chart below indicates the number of building permits issued by month for new single family residential homes in Cape Coral, Fl dating back to January 2008. Stay tuned for the November 2011 building permit data. Cape Coral Florida will need to issue 17 new single family home building permits in November 2011 to beat the number issued in November 2007, four very long years ago. Contact Mike by clicking here. He will be happy to guide you through the process of buying or selling a home. He also has the knowledge to provide valuable information related to Southwest Florida builders that will assist you in weighing the pros and cons of building a new home or to discuss the existing resale opportunities. Speaking to an individual who researches the market may pay off for you.