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SE Cape Coral on the Rise

From the News-Press May 30, 2010

Interest grows in well-established Cape Coral neighborhoods offering wide range of home prices.

Although the average sales price has declined, the average price of listings has increased because waterfront properties have rebounded at a rate greater than non-waterfront properties.

The Wards are among more than 500 families who have purchased so far this year in southeast Cape, an area bounded by Hancock Bridge Parkway to the north, Santa Barbara Boulevard to the west, Southeast 24th Avenue to the east and the Caloosahatchee River on the east and south.

Carson and Janice Ward enjoy boating, and these days they can get out on the water almost any time they want. That is something new for the former Illinois residents, who closed in February on a three-bedroom, two-bath home on Southeast 19th Place in southeast Cape Coral. Their new property features an office, pool and spa. It also has a boat slip with easy access to the Caloosahatchee River.

“We looked several places, including Orlando, The Villages and between Tampa and Orlando,” said Carson Ward, 72, who still works as an engineer.

It is a section that has a wide range of home prices because it offers an array of settings. Those include riverfront estate homes, homes with direct and indirect canal access, homes with freshwater canals and non-waterfront properties. Current listings range from $3.995 million for a six-bedroom, 7.5-bath home on the river to $13,900 for a one-bedroom, one-bath condominium.

The southeast area of Cape Coral was not as adversely affected by short sales and foreclosures as the northeast and northwest areas of Cape Coral. This is due to the fact that in the years researched, this area was more developed and was not affected by the large number of speculators and investors who just ‘walked away’ from their investments (as occured in the NW and NE parts of the city).

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