The Real Deal Miami

Falling prices spur sales in Cape Coral

June 11, 2008 11:39AM

Cape Coral, the largest city between Tampa and Miami, saw a 41 percent increase in homes sales in April, thanks to fire-sale prices. Brokers say the inventory reduction is a sign that the local market will begin moving again. The Sarasota-Bradenton and Charlotte County-North Port markets saw a combined April sales increase of 5.3 percent. Cape Coral saw a major construction boom in 2004 and 2005 that played a role in the local housing bubble.