The new home building permit data compiled by the City of Cape Coral through June 2013 contains more good news for the real estate market in the city. For the fourth consecutive year, since this key matrix bottomed in 2009, the number of new home building permits issued will likely increase when compared to the previous year. The June 2013 results represent a 29% increase vs 2012.
There were 235 new house permits issued through June 2013 vs 182 through the same period in 2012. That number already exceeds the total permits issued for 2008-2010 and is only 33 permits behind the 2011 full year total of 268. Click the chart below to enlarge it and view the trend lines.
The Sandoval development continued to be a key contributor to the increase. The amenity rich community accounted for 60 of the 235 permits issued for a new house year to date. 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. In January 2013 Sandoval recorded only one permit due to a lack of homes sites. Construction in Phase III began in February 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-….
Another reason Sandoval’s percentage is down is because building is taking place in all sections of Cape Coral. New construction since 2007 had been almost totally confined to the southwest quadrant of the city.
Cape Coral Florida property values continue to rise with gulf access, no bridge or one bridge properties soaring in value. Home site lots in Tarpon Point, Cape Coral’s premier community, are listed as high as the $1,000,000 range. Tarpon Point Landings includes spectacular views. To learn more about Tarpon Point and browse MLS listings click 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 huge discounts when compared to a few short years ago.
The recent announcement that Hertz will accelerate moving its corporate headquarters to Southwest Florida will only add to the number of buyers. The car rental giant will lease space in Naples beginning in August of 2013 while their $60 million dollar, 300,000 square foot facility located in Estero is under construction. The building is scheduled for completion in early 2015.
Look at these numbers representing new home building permits from 2008 through June of each year. The trend is unmistakable.
- 2008 – 126
- 2009 – 75
- 2010 – 125
- 2011 – 131
- 2012 – 182
- 2013 – 235
In my opinion, the real estate crash of 2007-2009 is a distant bad memory. No matter which article you read or key matrix you refer to, the news is positive. The only question is how long interest rates will remain low. They have recently started to creep upwards. ‘
Visit my website at http://www.capecoralhouseforsale.com for more information on 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 me and I will be happy to guide you through the process of buying or selling a house. I’ll assist you in weighing the pros and cons of building a new home or discuss the existing resale property opportunities. Speaking to an individual who researches and knows the market can save you money. Call me today at (239) 738-8088! If you enjoy my site, please like us on Facebook.