Cape Coral median home price and housing market numbers
| Month | Typical Cape Coral home value | Change on prior year |
|---|---|---|
| August 2026 | $335,800 | −3.9% |
| August 2025 | $349,500 | −10.0% |
| August 2024 | $388,100 | −5.4% |
| August 2023 | $410,300 | −4.7% |
| August 2022 | $430,500 | +32.7% |
| August 2021 | $324,500 | +31.6% |
| August 2020 | $246,500 | +3.7% |
| August 2019 | $237,600 | +1.5% |
| August 2018 | $234,100 | +4.4% |
| August 2017 | $224,400 | +5.3% |
| August 2016 | $213,100 | n/a |
Zillow Home Value Index (all homes, smoothed, seasonally adjusted) and Zillow metro market data for the Cape Coral–Fort Myers metro, including the median sale price. Metro figures cover the wider region. The typical home value is Zillow’s mid-market index for Cape Coral itself; the 5-year change is +3.5%.
What the price trend shows
Cape Coral values rose slowly for years, then jumped. Zillow's typical home value went from $213,095 in August 2016 to $246,544 in August 2020, then to $324,488 in 2021 and $430,510 in 2022. Since that peak, every August reading has been lower: $410,279 in 2023, $388,124 in 2024, $349,486 in 2025 and $335,825 in 2026.
Two points follow from that. First, the pullback has been long and steady rather than a single drop, and the most recent year (down 3.9%) was a smaller decline than 2024 to 2025. Second, over five years the index is still up 3.5%, and it sits about 58% above the 2016 level. Owners who bought before 2021 generally have equity; owners who bought in 2022 or 2023 may not.
A typical value is a benchmark for the middle of the market, not a price for a particular house. Waterfront homes, new builds and homes needing storm repairs can move differently from the index.
Sale speed, price cuts and inventory
Zillow's metro-level data for the Cape Coral market, which covers Lee County, shows how buyers and sellers are meeting in August 2026.
Inventory is falling
There were 10,537 listings, down from 13,144 a year earlier, a drop of about 20%. Fewer listings is usually the first sign of a market tightening, though supply is still high for the area.
Homes take about four months to go pending
The typical listing took 119 days to go under contract, compared with 125 a year earlier. That is much slower than the Tampa and Orlando metros, where the figure was 70 days.
Sales close about 4.6% under list
The sale-to-list ratio was 95.4%, up from 94.7%. The typical sale closes a few percent under the final asking price, after any earlier cuts.
One listing in five has a price cut
21.2% of listings had a price cut, down slightly from 22.0%. The median sale price was $360,000, against $360,917 a year earlier.
Read together, prices are still drifting down, but less inventory, slightly faster sales and fewer cuts suggest the pace of decline has slowed. None of this predicts where prices go next.
Differences by ZIP code and neighborhood
By ZIP code
Zillow's ZIP-level figures show a spread of roughly $128,000 between the most and least expensive Cape Coral ZIP codes. 33914, which covers southwest Cape Coral and much of its gulf-access housing, had a typical value of $421,223 (down 2.4%). 33909 in the northeast was lowest at $293,459 (down 4.6%). The Cape Coral ZIP code guide covers each area.
By neighborhood
| Zillow neighborhood | Typical value (Aug 2026) | 1-year change |
|---|---|---|
| Tarpon Point | $890,317 | -7.7% |
| Royal Tee | $598,508 | -1.0% |
| Cape Harbour | $524,261 | -6.9% |
| Island Harbors | $482,618 | -6.1% |
| Heatherwood Lakes | $394,513 | -0.6% |
| Sandoval | $376,953 | -3.2% |
| Bella Vida | $319,691 | -7.5% |
| Coral Lakes | $293,341 | -2.9% |
| Entrada | $288,319 | -8.9% |
The largest one-year declines in this list were in Entrada, Tarpon Point, Bella Vida and Cape Harbour. Heatherwood Lakes and Royal Tee were close to flat. Small neighborhoods have few sales, so a single year's change can swing more than the city figure.
Rent is a useful cross-check. Zillow's typical Cape Coral rent was $1,949 a month in August 2026, up 1.0% in a year, so rents have held steady while values fell.
Condos, waterfront and new builds
Waterfront and gulf-access homes
Water sets the price in Cape Coral more than anything else. A brokerage search on 25 September 2026 showed 489 gulf-access homes for sale at a median ask of $850,000, averaging 125 days on market, well above the city's typical value. The waterfront homes guide explains the canal types.
Condos
Condos are a small share of the market. High-rise listings in the marina communities had a median ask of $860,000 on the same date, while older low-rise buildings sell far below that. State reserve and inspection rules have raised costs in older buildings; see the Cape Coral condo guide.
New construction
The same search showed 605 new-construction listings at a median ask of $400,000, above the resale typical value. Builders competing with that supply often offer rate buydowns or closing-cost help. See new construction in Cape Coral.
Is now a good time to buy a house in Cape Coral?
For buyers who plan to stay several years, conditions are more favorable than in 2021 to 2023. A long days-to-pending figure and a sale-to-list ratio near 95% mean you can usually ask for a price reduction, repairs or seller-paid closing costs. Use that room, but spend part of the saving on checks that matter in Cape Coral:
- Get insurance and, where needed, flood insurance quotes before you finalize the offer. The Cape Coral flood zone guide explains how to look up a parcel's zone and elevation data.
- Check the tax bill for utility assessments and other non-ad valorem charges. The utility assessment guide explains what to ask for.
- Ask how long the home has been listed and what price cuts it has had. A listing that has sat for months may accept terms a new listing would not.
At the 30-year fixed rate of 7.03% (Freddie Mac, week of 24 September 2026), financing cost is a bigger lever on your monthly payment than a few thousand dollars on price, so compare lender quotes as carefully as you compare homes.
Is now a good time to sell in Cape Coral?
It can be, if you price for today's market. Inventory has fallen by about a fifth in a year, which helps sellers, but buyers still have plenty of choice. Price to the current market, not to 2022. With roughly one listing in five taking a price cut, a home that starts too high tends to sit, and buyers read a long listing history as room to negotiate further.
- Look at recent closed sales on similar streets and water frontage, not active asking prices.
- Have the documents buyers will ask for ready: roof age and permits, wind mitigation report, elevation certificate if you have one, and utility assessment status.
- Run your numbers with the seller net proceeds calculator so you know your floor before offers arrive.
If you need a quick sale, the guide to selling fast in Cape Coral compares a cash offer with listing. A home value estimate is a good first step either way.
What to watch next
We don't forecast prices. These are the published factors most likely to move the Cape Coral market:
- Inventory. If listings keep falling from 10,537, sellers gain leverage.
- Mortgage rates. Freddie Mac's 30-year fixed average was 7.03% in the week of 24 September 2026. Each move changes what buyers can afford.
- Property tax. Florida voters decide a property tax amendment on 3 November 2026. If at least 60% approve, it would raise the homestead exemption and reduce the assessment cap on non-homestead property from 1 January 2027. See the Lee County property tax guide.
- Rents. Zillow's typical rent was $1,949 in August 2026, up 1.0% while values fell. If that gap keeps closing, more renters may find buying competitive.
- Insurance and storms. Premiums and hurricane season shape both demand and seller urgency.
Zillow updates its data monthly, and this page is refreshed as new figures arrive.
Common questions
Are home prices dropping in Cape Coral?+
Yes, but more slowly than before. Zillow's typical Cape Coral home value was $335,825 in August 2026, down 3.9% from August 2025. The prior year's decline was larger, from $388,124 to $349,486. Values remain about 22% below the August 2022 figure of $430,510 and 3.5% above the level five years earlier.
How long do homes take to sell in Cape Coral?+
Slowly. Zillow's metro data for August 2026 shows a typical 119 days from listing to pending sale, compared with 125 days a year earlier. Add the time from contract to closing, which usually takes another month or more with financing, and a typical sale takes around five months from listing to closing.
Is Cape Coral a buyer's market in 2026?+
The data leans that way. Inventory is 10,537 listings, homes take about 119 days to go pending, the typical sale closes at about 95.4% of list price and 21.2% of listings have had a price cut, according to Zillow's August 2026 metro figures. Inventory is falling, though, so conditions may be shifting.
What is the typical rent in Cape Coral?+
Zillow's typical rent for Cape Coral was $1,949 a month in August 2026, up 1.0% from a year earlier. Rents have held steady while home values fell, which narrows the gap between renting and owning a little. Compare it with the full cost of ownership, including insurance and assessments, not the mortgage payment alone.
Is now a good time to buy in Cape Coral?+
Conditions favor buyers more than in recent years. Zillow's August 2026 figures show homes taking 119 days to go pending, sales at about 95.4% of list and price cuts on 21.2% of listings, so you can negotiate. Values are still falling, down 3.9% in a year, so buy for a long stay rather than a quick gain.
Will Cape Coral home prices go up?+
No one can say reliably, and we don't publish forecasts. Zillow's typical value fell 3.9% in the year to August 2026, a smaller decline than the year before, and inventory fell from 13,144 to 10,537 listings. Watch inventory, mortgage rates, insurance costs and the November 2026 property tax vote.
Sources
- Zillow Research: Home value, rent and market data (August 2026)
- City of Cape Coral: Flood protection and information
- City of Cape Coral: Tax billed assessments (non-ad valorem taxes)
- Freddie Mac: Primary Mortgage Market Survey
- Pinellas County Property Appraiser: Proposed 2026 property tax Amendment 3 FAQs
- GreaterFtMyers.com: Cape Coral gulf access homes
- GreaterFtMyers.com: Cape Coral high-rise condos
- GreaterFtMyers.com: Cape Coral new construction
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Antonio Roberts
Antonio Roberts has spent five years helping more than 500 Florida buyers and sellers choose the right real estate agent. He is not a real estate agent himself: he researches what matters in a Florida move and connects people with licensed local agents, free of charge.
Reviewed by a licensed Florida real estate agent. Before publication, this guide was checked for accuracy by a licensed Florida real estate agent on our team. It is general information, not legal, tax or financial advice.
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