Cape Coral Inventory Update
At the beginning of October, we had 4166 unsold single family in Cape Coral. This went down slightly from the 4229 homes at the beginning of September. Sales remained strong with 506 closings but 443 added listings came onto the market for a net reduction of homes. The 4229 homes is an 8.2 month supply.
Distressed properties still dominated the sales with 212 foreclosed and 140 short sales closing last month. There are almost 2000 homes under contract so we should continue to see a trend of reducing inventory.
