May 2024 Real Estate Market Report Update for Southwest Florida

Welcome to the May 2024 edition of the Southwest Florida Real Estate Market Report, offering a comprehensive view of the latest trends and patterns in this vibrant real estate scene. This report specifically focuses on Gulf access properties in Southwest Florida, particularly in Tarpon Point Marina, South Cape Coral and Northwest Cape Coral Gulf Access, Cape Harbour, and Gulf Harbour Yacht & Country Club. Let's take a look at the numbers!

Property Types and Insights

The unique allure of Gulf access properties significantly influences their market value. Factors like the width of the canal, proximity to open water, and direct access versus bridge access play a crucial role in determining prices. The report categorizes properties into Single Family Homes and Condos/Townhomes, providing a clear overview of market trends and detailed data for in-depth analysis.

Locally, we've seen some changes in inventory levels over the last twelve months. There were a total of 1,021 properties sold in Tarpon Point Marina, South Cape Coral Gulf Access, Northwest Cape Coral Gulf Access, Cape Harbour, Gulf Harbour Yacht & Country Club, 755 of those being single family homes. The average price to purchase a single-family home in the Southwest Florida area is currently $959,849. The average cost to purchase a condo or townhome is currently $529,222.

Let’s break it down further by area to better understand how these numbers affect the local market!

Market Insights: Tarpon Point Marina

A luxurious waterfront destination in Cape Coral, offering refined living with a host of amenities like a full-service marina and fine dining options. Over the past twelve months, 10 properties sold here at a median price of $1,150,000, translating to $390 per square foot. My market report includes area-specific pages, where you'll be able to compare numbers for Tarpon Point Marina and other areas to the last five years. These numbers will be interesting to both buyers and sellers!

Real Estate Trends in South Cape Coral Gulf Access

Known for its easy Gulf access and stunning waterfront residences, this area offers a mix of serene coastal life and adventure. The median sold price for single-family homes stands at $685,000, with a price per square foot of $359.

Northwest Cape Coral Gulf Access: A Closer Look

As the fastest-growing part of Cape Coral, this boater's paradise offers direct Gulf access. The median price for single-family homes here was $925,000, with a price per square foot of $418. Gulf access homes in NW Cape are generally a newer build and that is the primary reason that their median price is almost $300K more than Gulf access homes in South Cape.

Insights into Cape Harbour

An extraordinary waterfront community with a mix of condos and single-family homes, offering upscale living and coastal charm. The median sold price in this area was $733,085 with a price per square foot of $389, and a total of 36 properties sold over the last twelve months.

Property Trends in Gulf Harbour Yacht & Country Club

An exclusive community in Fort Myers, featuring a world-class marina and luxurious amenities. The median sold price for single-family homes is currently $730,000 with a median price per square foot of $358. 90 properties have been sold here over the last twelve months.

What Does This Mean For You?

Whether you are a buyer or a seller, understanding these market dynamics is crucial for making informed decisions. The Southwest Florida real estate market, with its unique Gulf access properties, presents a diverse range of opportunities and challenges.

For personalized insights and assistance in navigating this dynamic market, feel free to reach out to me at (239) 900-7373 or [email protected]​. I value your feedback and welcome any questions or comments you may have. Please don't hesitate to reach out for assistance!

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