Cape Coral is experiencing a rise in foreclosures, with 106 properties foreclosed last month, according to ATTOM Data.
This number is significantly higher than those of other nearby cities, such as Fort Myers, which has 63 foreclosures, Naples, which has 37, and Punta Gorda, which has 23.
Real estate agents describe the housing market in Cape Coral as solid, despite the increasing foreclosure numbers.
Jason Jakus, director of Florida Gulf Coast Multiple Listing Services, said that very few homes sold in the city are from foreclosures.
"If you're in an area and you start to see those pop up, and you've got a three-year plan. Your plan may be, let's sell it now before it gets worse," said Jakus. "So I think monitoring it is just an asset. When you buy a home, I think monitoring your asset and what affects it around it, which is your comparables, is important."
An ATTOM Data report indicated that in May 2025, Jacksonville was the only city in Florida with a worse foreclosure rate than Cape Coral.
Lee County saw 257 foreclosures; across the state, one in every 2,500 homes faced foreclosure.
Jakus also mentioned that as long as the local economy remains strong over the next five to 10 years, he does not foresee foreclosures becoming a significant problem. He stated he would not be concerned until foreclosure rates reach about 5%.
For potential buyers and sellers in Cape Coral, monitoring the housing market and foreclosures in the area is crucial to making informed decisions.