LEE COUNTY, FLORIDA
Saturday, February 16, 2009
Despite the economy, Cape Coral stats aren’t all that bad
news-press.com staff reports
The population in Cape Coral, after plummeting
last year, is inching forward. But don’t expect the
same breakneck growth as in years past.
With home prices at record lows, retirees and
families are snapping up homes and adding to
Cape’s population, which ranks as the ninth
biggest in the state.
The days of 10 percent annual population
growth in the city may be over and 10 percent of
the community is out of work, but optimists point
to an improving real estate market.
Crime also is falling this year in the city, but
there is a wary eye on how local and state
budget cuts will impact quality of life.
As the city looks at probable budget cuts
because of the property tax shortfall, among the
areas affected is dredging throughout the 400-
mile canal system, along with road maintenance.
A home sale for $15,000. Another for $1.75
Those are the wildly spinning variations in sales
of homes affecting Cape Coral’s market of
foreclosures and other vacant homes.
But there are sales, despite the economy. In
fact, the 413 sales in January, according to the
Multiple Listing Service, were 260 more than
January of 2008. The low sale price last month
was $23,000 with a high of $816,000. The top
sale in January of last year was $1.7 million with
a low of $64,000.
“Cape Coral is one of the hottest markets,” said
Brett Ellis, a real estate agent with Remax
Realty Group. “Almost one-half of all sales in
Lee County are in Cape Coral.”
This month, 165 homes have sold, compared
with 232 for February of last year. The wide
range in sale prices was not nearly as large in
February of 2008 with a low sale of $74,000 and
a high of $1.25 million. A total of 4,633 existing
homes, many of them foreclosures, were sold
throughout Cape Coral last