The new home building permit data compiled by the City of Cape Coral through August 2012 contains more good news for the real estate market in the city. For the third consecutive year, since this key matrix bottomed in 2009, the number of new home building permits issued will increase when compared to the previous year. The August results ensure 2012 will be the best year for new home building permits since 2007.
There were 28 new home single family permits issued for the month of August 2012. The 2012 year to date total for Cape Coral, Fl is 240 (not including six permits issued for duplex construction). That number already exceeds the total permits issued for 2008-2010 and is only 28 permits behind the 2011 total of 268. Through August of 2011 there were 177 permits approved for property owners. The difference represents a whopping 36% increase in 2012. Click the chart below to enlarge.
The Sandoval development continued to drive the new home permit data for Cape Coral real estate. The amenity rich community accounted for 80 of the 240 permits issued year to date. Normally, any one development accounting for 33% of a cities permit total would have the developers jumping for joy. In prior years, Sandoval accounted for almost 50% of the total permits for Cape Coral. There are a few reasons for the percentage decline. First, Sandoval is a victim of its own popularity. Phase II almost sold out before Phase III was prepped for building. Taylor Morrison expects permitting for their models to be approved in the next 2-3 weeks. Construction of new homes in Phase III is expected to begin in the spring of 2013 .You can view the MLS listings for Sandoval at http://www.capecoralhouseforsale.com/properties/sandoval/ or learn about the community amenities and view over 60 photos at http://www.capecoralhouseforsale.com/learn/sandoval-cape-….
The other reason Sandoval’s percentage is down is because building is taking place in the Northwest portions of Cape Coral. New construction since 2007 has been almost totally confined to the Southwest quadrant of the city. In 2011 only eleven permits with a NW property address had been issued through August. Though August of 2012 the number has more than doubled to twenty-three! While that isn’t a big number, it represents the best total in five years! Who can argue with a better than 100% increase?
Cape Coral Florida property values are rising again. Gulf Access, no bridge property values are soaring. It was only a year ago that real estate lots, south of Beach Parkway, west of Sands Blvd and along El Dorado were listed at prices under $200,000. Now lots under $300,000 in that same area are rare. Estate lots in Tarpon Point, Cape Coral’s premier community, are listed in the $1,000,000 range. To learn more, view photo’s of the spectacular views offered at Tarpon Point and browse MLS listings by clicking this link: http://www.capecoralhouseforsale.com/properties/tarpon-po…
Buyers are returning 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 a piece of paradise at about a 40% discount when compared to a few short years ago.
Look at these numbers representing new home building permits since 2008 through August of each year. The trend is unmistakable.
“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 at http://www.capecoralhouseforsale.com for more information on his eight featured amenity rich communities, including Sandoval & Tarpon Point, plus prestigious waterfront homes and properties.
See the most prestigious real estate Southwest Florida has to offer by clicking on this link: http://www.capecoralhouseforsale.com/properties/mls-searc…
Contact Mike and 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. Call him today at (239) 738-8088!