February is peak season in Cape Coral and the numbers showed it. 475 homes closed, up 28% year over year, and the median sale price recovered to $375,000, still 3.2% below February 2025, but $22,550 above January.
The market in February 2026
| Metric | Feb 2026 | Change |
|---|---|---|
| Median sale price (single-family) | $375,000 | −3.2% YoY |
| Closed sales | 475 | +28.0% YoY (vs 371) |
| Active inventory | 3,091 | −26.4% YoY |
| Months of supply | 6.3 | |
| Median days on market | 53 | |
| Sold-to-list price ratio | 97.0% |
“Median days on market” is the median number of days a sold home was listed before it went under contract, not the time to closing. It is the same field in every month of this series, and the same field RPCRA reports. Its own definition is “the median number of days between when a property is listed and the purchase contract date.” Where our figure and RPCRA’s differ, the cause is the different set of sales each series covers, not a different measure. May reports Lee County median days to contract instead, and is labelled as such, because our usual city-level source did not publish one that month. Corrected August 15, 2026: the Royal Palm Coast Realtor Association did publish a Cape Coral table for May, and it now appears on the May report.
Closed sales and their year-over-year change are from the Florida Gulf Coast MLS Historic Sales by Year report for Cape Coral, pulled August 5, 2026. Remaining rows are as previously published and are being re-verified against the same report.
Cape Coral city, closed-sale data from the Florida Gulf Coast MLS.
The story of the month was the supply side, and it bit hardest on Gulf-access and waterfront homes. Active inventory finished February at 3,091 homes, down 26.4% from a year earlier. Sellers who had been sitting on unsold listings since 2024 either sold, or gave up and withdrew. Either way the shelf got shorter while demand held.
Buyers still had room to negotiate: a 97.0% sold-to-list ratio and 53 days on market are not seller's-market figures, but the discount narrowed slightly from January's 96.2%. Lee County's condo market stayed the weak leg, with a $280,000 median, down 8.2% year over year, against roughly eleven months of supply.
Peak-season demand met a shrinking shelf. Prices didn't spike, but the deepest discounts started disappearing from the good stuff first.
Fresh from the Cape: February 2026
Bimini Square opened
The February 6 ribbon-cutting at 440 Cape Coral Pkwy E marked the opening of Crowne Development's $100M Bimini Square, 218 luxury apartments, a Lee Health clinic, a marina, and a rooftop infinity pool and dog park, with more restaurant space still to fill. It is the most visible piece yet of the South Cape's transformation.
Yacht Club: proposals due
The city expected private partnership proposals for the Yacht Club rebuild by the end of February, with a council discussion set for March. The October 2025 estimate for the project, excluding the pier, was $225M.
A very full events calendar
The city's Water Ways Science Festival filled Cultural Park on February 7. Bike Night returned to SE 47th Terrace on February 14, 5–10pm, with a ZZ Top tribute, a slow bike race and a new "Thunder Zone" moto parking area, the same day as the Classic Car Fest at the Cape Coral Museum of History. The 12th South Cape Mardi Gras Pub Crawl ran ten venues on February 22.
Burrowing owls and a fusion walk
Rotary Park hosted the 24th annual Burrowing Owl Festival & Wildlife Expo on February 28: 30-plus conservation groups, wildlife bus tours and live animals for a $5 suggested donation. The same evening, the Music & Arts Fusion Walk took over SE 47th Terrace from 5 to 9pm.
On stage
Cultural Park Theatre ran Sweeney Todd and Dogwood Winter; the Belle Theatre staged Always A Bridesmaid and opened 9 to 5 The Musical on February 27.
What it means if you’re buying or selling
February is the month that tells you what the season is really worth. Sales up 28% with inventory down 26% is a tightening market, not a collapsing one, and it explains why the deep-discount hunting got harder from here.
Want this read against a specific street, canal or price band? That’s a phone call, not a blog post, get in touch or start with the Coastal Home Finder.
Market figures are compiled from the Florida Gulf Coast MLS, Royal Palm Coast Realtor Association and Florida Realtors monthly reports, Realtor.com metro data via FRED, Zillow, Houzeo, and Freddie Mac’s weekly mortgage survey. Sources disagree on inventory counts and geography, city versus county versus metro, so we label which is which rather than blending them. Local items are summarised from the Cape Coral Breeze, WINK News, Fox 4, Gulfshore Business, NOAA and the City of Cape Coral. Details can change after publication.
