Cape Coral Short Sales

Interesting overview of the current real estate market conditions in Cape Coral by the St. Petersburg Times. My takeaway about the market from this article is that affordability has returned in a big way to Cape Coral.

The growing short sale and foreclosure inventory has significantly changed the market dynamics in Cape Coral. These two listing categories dominate the pending and sold transactions right now.

Now that the speculators are being flushed out, Cape Coral can resume its rightful position as Southwest Florida's affordable bedroom community. Hopefully this market correction will provide every teacher, fireman, policeman, nurse and others with an opportunity to realize the American dream of home ownership.

Currently there are just over 1,900 Cape Coral short sale listings in the MLS system. These listings range in price from a riverfront mansion listed at $1.3M to a 2BR/2BA, 928 SF condo listed for $39K.

Cape Coral's real estate collapse attracts bargain hunters [St. Petersburg Times]

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