Cape Coral and Fort Myers real estate markets recover post-Hurricane Ian

by The 100 Companies July 11, 2023

July 11, 2023

Redfin Senior Economist Sheharyar Bokhari says, “the storm's effect on prices was likely muted because at first, new listings fell, which pressured prices to rise due to a shortage of homes for sale.” (Photo courtesy of Big Stock Photo)

According to a recent report by Redfin, home listings in the Cape Coral-Fort Myers metropolitan area have recovered and sales have begun to bounce back.

In the two months following the devastating September 2022 storm, Cape Coral-Fort Myers saw 900 fewer new listings than there would have been had the storm not come. In the six months after that, the area had 1,314 more new listings than projected for a net gain of 415 new listings for the metro area.

Cape Coral-Fort Myers is the seventh most popular migration destination for homebuyers, according to Redfin’s ranking. Read more: FloridaRealtors.org.

– Jerry Murphy, Downing-Frye Realty, Inc.