Three bedroom homes dominate market
Pop quiz: What is the toughest type of property to find in Cape Coral?
Answer: Five bedroom homes
In a city of 155,000 residents, there are currently only 41 single family homes on the market with 5 bedrooms. With 4,700 total single family homes currently for sale, five bedroom homes comprise less than a tenth of a percent of the total market.
Three bedroom homes dominate the market at nearly 74 percent. Much of this shortage of larger homes can be attributed to the quarter-acre lot size that is so dominant in the Cape.
There is some hope for larger families and two newer deed-restricted gated communities are catering to those needing five bedrooms. Coral Lakes, a 370 acre subdivision located in Northeast Cape Coral on Del Prado Boulevard extension, currently has several five bedroom homes available. These five bedroom homes in Coral Lakes range in price from $349,000 to $539,000.
Another option is Heatherwood Lakes, a modern master planned gated community located in Southwest Cape Coral on SW 20th Avenue, north of Veterans Parkway. Heatherwood Lakes has five bedroom homes available ranging in price from 364,900 to $525,000.