Real Estate Market Summary for Cape Coral,
Lee County, Southwest Florida

Sales of existing single-family homes set a record for the fifth consecutive year in 2005 and are expected to be the second highest in history in 2006 even though a more balanced market between buyers and sellers is emerging in many metro areas in the U.S. Demand is being fueled by demand from both move-up/repeat buyers and first-time buyers taking advantage of historically low mortgage interest rates. A slowing building supply of unsold homes was expected to continue in 2006.

Record existing home sales of 7.2 million in 2005 were the highest in history because of continued strong market fundamentals. David Lereah, chief economist for the National Association of Realtors, expects 30-year fixed mortgage interest rates to rise to 6.6% in the second half of 2006.

Lereah says he sees no evidence of country-wide price bubbles and anticipates slower price appreciation in 2006. Source: HouseHunt.com

Southwest Florida

Southwest Florida is a region of Florida located along its gulf coast, south of the Tampa Bay area. Some people consider the Tampa Bay to be included in Southwest Florida. As of 2000, the population of Southwest Florida was 1,490,270. The most populous county in the region is Lee County, and the region's largest city is Cape Coral.

Southwest Florida was largely ignored by commercial developers until the late 1800s, and as such, lacks much of the heavier development present in other parts of Florida, such as that found in the Central or southern regions of the state. In recent years however, there has been a major real estate boom focusing on downtown Fort Myers (high-rise residential condominiums); southern Lee County (commercial development and high-technology); and western Collier County (residential development).

Overall, the region notably suffers from urban sprawl; however, numerous efforts in recent years have been made to remedy this situation.

Southwest Florida is served by several major highways, including the Tamiami Trail (U.S. 41) and the Interstate 75 freeway, both of which connect the area to Tampa to the north, and Ft. Lauderdale/Miami to the east.

In addition, Southwest Florida International Airport, located in South Fort Myers, served over 7 million passengers in 2004 and offers non-stop flights to 3 cities in Europe and 2 in Canada, in addition to over 30 domestic destinations. The area's secondary airport, Sarasota-Bradenton International Airport, served slightly less than 1 million passengers in 2004.

Tourism is a major economic driver in the area. In addition, many seasonal residents live in the area during the winter months, as temperatures in south Florida stay very moderate during that time of year.

Beaches in the following locales:


• Fort Myers Beach
• Longboat Key, offshore from Bradenton and Sarasota
• Marco Island, offshore from Naples
• Naples
• Sanibel and Captiva Islands, offshore from South Fort Myers (renowned for the quality of shells that wash ashore)
• Sarasota
• Venice (renowned for the sharks' teeth that wash ashore)


Attractions including:


• Edison and Ford Winter Estates in Fort Myers
• Naples Botanical Garden
• Naples Zoo at Caribbean Gardens
• Ringling Museum of Art in Sarasota
• St. Armand's Circle in Sarasota

• Charlotte (pop. 141,627)
• Collier (pop. 251,377)
• De Soto (pop. 32,209)
• Hendry (pop. 36,210)
• Lee (pop. 440,888)
• Manatee (pop. 262,002)
• Sarasota (pop. 325,957)

• Bradenton, Manatee County
• Bonita Springs, Lee County
• Cape Coral, Lee County
• Fort Myers, Lee County
• Naples, Collier County
• North Port, Sarasota County
• Sarasota, Sarasota County