Local real estate expert Veldin “Dean” Miskic, co-founder of Pelican Vista Realty, recently shared insights on key concerns in Cape Coral’s property market. In an exclusive interview, Miskic addressed common questions and clarified misinformation circulating among residents and investors via social media and national headlines.
Market Status Overview
“There’s a lot of false information out there. And to be brutally honest, I’m not really sure what the point of that false information is, because it’s causing a lot of uncertainty with people,” said Miskic, who has over 10 years of experience specializing in waterfront and luxury properties.
The Cape Coral real estate landscape has seen significant changes over the past five years. The city has grown from 100,000 to about 230,000 residents in the last 15 years, but remains only 60 percent occupied, with capacity for 400,000 people.
Addressing Top Questions
Is Cape Coral really experiencing a housing market collapse?
“The people that ended up buying prior to 2021 got homes at prices that were still pretty affordable, and then 12 months later, their home values increased by almost 50 percent, sometimes 70 percent,” explained Miskic. The current correction primarily affects those who purchased at peak prices in 2021-2022, with resale properties down roughly 20 percent from peak values.
What’s the real inventory situation in Cape Coral?
“In early 2021, we only had about 600 homes on the market. Right now, as we’re discussing this, in Cape Coral, there’s about 2,800 single family homes.” This increase in available inventory has led to more balanced market conditions.
How did Hurricane Ian affect the local real estate market?
“Within 12 months, you could drive through the city and barely see any blue tarps anywhere, because there were so many roofs that were fixed up and replaced,” Miskic noted. The city’s recovery was faster than anticipated.
Misconceptions Clarified
Miskic addressed common misconceptions spread by social media content creators lacking local market expertise.
“I saw something recently about somebody who posted a video saying there’s 12,000 listings in Cape Coral. It’s beyond wrong,” he emphasized.
Misleading content on platforms like TikTok, Instagram, and Facebook has created unnecessary anxiety among potential buyers and sellers. Miskic said he regularly reviews these videos to understand client concerns and provide accurate information based on market data.
Practical Advice for Buyers and Investors
For those considering Cape Coral real estate, Miskic offered practical guidance: “We’re still that hidden gem that a lot of people don’t know about, and we’re still pretty affordable in comparison to other major cities.”
He suggested buyers focus on the area’s fundamentals: abundant land starting at $30,000 for a quarter-acre, new construction opportunities, and the ability to build waterfront homes with boat access for $600,000 to $700,000.
Looking Forward
When asked about future trends, Miskic expressed optimism about Cape Coral’s growth potential despite current market corrections.
“We still have a long way to grow. We have a lot of people moving here from Naples, from Sarasota, especially from Miami, because it’s less expensive, but you have a lot of options,” he concluded.
