Ivy Grace
4 min read
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If you thought Florida's housing market was still a seller's paradise, talk to someone in Cape Coral or Fort Myers. They'll tell you it's more like a waiting game—one with high insurance premiums, slow foot traffic, and a not-so-sunny forecast.
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Powered by Money.com - Yahoo may earn commission from the links above."It makes me wonder, is it ever gonna happen?" said Darleen Strange, whose mother's Fort Myers home has been sitting on the market since November. "It's been on the market right at about 157 days. We've only had four people come look at it."
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That wasn't in a random Facebook group—Strange shared her frustration with WINK-TV. And she's far from alone.
Realtor Angie Ramos echoed the slowdown: "We're seeing a lot of price reductions. Things are selling, but not as quickly as one would want."
Southwest Florida, once a post-pandemic boomtown, is cooling fast. According to Construction Coverage, which analyzed Redfin data across midsize cities, Cape Coral ranked 123rd out of 123 in its list of the hottest real estate markets of 2025 — dead last.
According to Redfin, there are over 238,000 homes currently on the market statewide. Florida has been building more housing than most other states, and with inventory piling up, buyers are starting to regain some bargaining power.
"I thought that it would go pretty quickly, because it's a beautiful home, beautiful location, beautiful view," Bonita Springs seller Tom Pomanti told WINK in April. He originally listed it for $850,000, but after cutting the price to $729,000, he's still had no bites.
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On Reddit, longtime locals are getting blunt. "There's roughly 4,000 houses for sale in Cape Coral right now. The market is definitely flat," one user wrote. "It's an effing mess."
They point to insurance hikes, high mortgage rates, and hurricane damage as dealbreakers. One Redditor said their homeowner's insurance jumped from $6,100 to $7,300—and flood insurance tacked on another $8,400. "Just paid the home off so I'm considering dropping flood," they wrote. The home only had two inches of water during Ian, but the stress is stacking.
