As the Real Estate market here in Southwest Florida continues to improve the sales in Cape Harbour are strong as well. According to the Florida Gulf Coast MLS there were 47 residential sales in the community in 2011. Of those properties sold 34% (16) of them were distressed sales. There were 10 Short Sales and 6 sold foreclosures. This figure is lower than the market here in Lee County which has been hovering around 50% of sold transactions being distressed.
There were 20 Single Family home sales in Cape Harbour in 2011. The highest closed sale was $2,625,000 and low was $400,000. The median sales price of a single family home was $751,000 with the average being $858,045. This leads me to believe that new construction is in our future here in Cape Harbour because the average sales price per square foot was $253.99. I will discuss lot sales in a later article but with builders aggressively pricing their models and land values being low there is opportunity for new construction in the horizon. The average days on market for a home was 115 days so less than four months meaning if your home is priced to compete with the distressed properties there are enough buyers in the market that it will sell and in a reasonable amount of time. Homes sold at an average of 89.9% of their list price.
The majority of sales in Cape Harbour took place in the high rise condos in the Marina South Towers. 21 condos sold there last year. The highest sale was $310,000 for a 1798 sq. ft. unit on the 15th floor. The lowest priced sale was a 1251 sq. ft. 2 bedroom unit on the 11th floor that was a foreclosure for $150,150. The median sales price in the high rises was $265,000. Marina South at Cape Harbour had an average sales price of $255,562 or $160.73 per sq. ft.. Units in the high rises sold at 94% of their list price and had an average days on market of 155. I believe the days on market would have been substantially lower if not for all of the short sales on the market last year.
The mid rise condos that make up Marina View at Cape Harbour had 5 units sell. The numbers for this are skewed a bit because of a 3776 sq. ft. 4 bedroom 3.5 bathroom fully decorator furnished Penthouse that sold for $875,000. The next highest sale in Marina View was only $353,000 with the lowest sold unit at $301,000 and the median being $309,900. Because of the penthouse the average sale price of $428,780 is actually higher than the second highest sold unit. If you remove that sale the average sale price in Marina View would be $317,225. Including all sales the average price per sq. ft. was $181.56 and the condos sold at nearly 95% of their list price.
Last year only one property sold in the Coach Homes at Cape Harbour. It was a 3 bedroom 2.5 bathroom 1882 sq. ft. home that sold for $205,000. It sold for 91% of its list price of $224,900. It was only on the market for 15 days. The price per sq. ft. was an extremely reasonable $108.93 considering it had plenty of upgrades.
In my next blog I will cover these sales figures against previous years. Be sure to follow my blog to get all the latest information about Cape Harbour!
Erik Elsea, Real Estate Superstar
Jones & Co Realty, Broker Associate
SEARCH MLS LIKE AN AGENT! FREE LISTINGBOOK ACCOUNT: