A scorching housing market has put Cape Coral and other southwest Florida cities at the top of the list put together by The Wall Street Journal and Realtor.com.
One realtor said she sold a home to someone who still works in New York. The home has views of Cape’s canal waterways, which may be more appealing than the grinding work in the city that never sleeps.
When people see a ‘for sale’ sign in Cape Coral they quickly make a decision and some are willing to pay whatever’s needed to close the deal.
Sam Yaffey, a realtor with Experience Real Estate Group, sees it all the time.
“I had one house for instance in 24 hours I had 20 offers,” Yaffey said.
The secret is out about Cape Coral and it’s ranking as high as sixth on The Wall Street Journal and realtor.com’s list of emerging housing markets.
“We are a booming city and we also have some of the best prices for the style of life that most people want to have,” Yaffey said.
Jason Jakus is the broker-owner with Next Home Advisors and he said he’s worked with people who move from all over the country to live here but work remotely.
“I’ve got a lot of clients that moved everywhere from Seattle California all the way up to Boston and move down here just for that reason,” Jakus said. “And if they can play and work anywhere place you can, its a great obvious choice to be down here.”
Jakus told WINK News the supply in Cape Coral has also improved. In April they saw a low of six weeks of inventory, which means with the available buyers it would take six weeks for all the homes to sell. As of Wednesday, it has improved to four months of inventory.
“People are still trying to get the price their neighbor got in maybe March. And they’re not getting it. But they’re still listing it as if that’s the market,” Jakus said. “Where there was a frenzy in multiple offers. We’re not seeing as many multiple offers as we’re seeing in March April and May.”
Yaffey expects demand to still be high as we enter the season, but not as high as we saw a year ago. Some of the other southwest Florida cities to make The Wall Street Journal list include Naples and North Port, which held the top two spots on the list.