2009 Real Estate Guide
real estate
Home price trends in Cape Coral/Fort Myers, Fla.

City-by-city price comps
Cape Coral/Fort Myers, Fla.
Real estate and employment woes cloud the sunny weather that lures vacationers to Southwest Florida. The median resale sales price has fallen by nearly 60 percent year-over-year, says Chris Porter with John Burns Real Estate Consulting. Nearly two years of resale inventory remains on the market as it continues to post one of the largest numbers of foreclosures, according to RealtyTrac. Local Market Monitor says it's one of the top 10 markets for the worst expected performance in home price this year.
Median price end of 2008:$110,900
Median price end of 2007:$225,300
Percent change:-50.8%
Projected change through Q3 2009:-30.3%
Affordability rating:0
Foreclosures in 2008:
(1 for every 8 households)
41,040
Foreclosures in 2007:
(1 for every 24 households)
12,880
Change in foreclosures:218.6%
Expected to hit bottom:Q2 2010
Percent drop needed to reach bottom:-66.4%
Current rate comparison
» Click here to view the Top 40 map.
Price trends
Q1 2008 national median price: $196,100
Q2 2008 national median price: $206,400
Q3 2008 national median price: $200,400
Q4 2008 national median price: $180,100
Q1 2008 local median price: $213,200
Q2 2008 local median price: $178,100
Q3 2008 local median price: $163,300
Q4 2008 local median price: $110,900

 Back to the 40-city chart overview.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
MORTGAGE & REAL ESTATE NEWSLETTER

Timely market news and advice for consumers ready to buy, sell or invest in real estate. Delivered weekly.

Blog

David McMillin

CFPB slaps Flagstar Bank with $37.5 million fine

Michigan-based Flagstar Bank is paying the price for failing to help homeowners and breaking the Consumer Financial Protection Bureau's new mortgage-servicing rules.  ... Read more

advertisement
Partner Center
advertisement

Connect with us