The new home building permit data compiled by the City of Cape Coral for 2012 contains more of the same 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 increased when compared to the previous year. The final year tallies for new home building permits increased by 71 to 339 in 2012 vs the 2011 total of 268 or about 26.50%. Cape Coral Fl has not experienced that level of new building activity since 2007. (Click the chart below to enlarge)
The Sandoval Community development continued to drive the new home permit data for Cape Coral real estate. The amenity rich community accounted for 96 of the 339 permits for new homes issued in 2012. Normally, any one development accounting for 28% 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 was a victim of its own popularity. Phase II almost sold out by August, months before Phase III’s Grand Opening scheduled for January 26th & 27th of 2013. Only 3 permits were issued in Sandoval for November and December.
Taylor Morrison had four models built and ready to show to anxious consumers for its Grand Opening. Construction of new homes in Phase III is expected to begin in February 2013 . You can learn all about the floors plans being offered in Phase III by clicking here.
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 for Sandoval’s percentage to the total being down is because of building 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 nineteen permits with a NW property address were issued. In 2012 the number has almost doubled to thirty-four! While that isn’t a big number, it represents the best total in five years! Who can argue with that type of year over year percentage 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. The trend is unmistakable.
2008 – 209
2009 – 180
2010 – 215
2011 – 268
2012 – 339
“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 will ensure you make an informed decision about SW Florida Real Estate. Call him today at (239) 738-8088!