Cape Coral Vacant Dry Lot Update
See our Vacant Lot Update, posted May 2007.
“Dry” lots are vacant residential building sites that are not on a canal, lake, or river. Dry vacant lot prices in the Cape have fallen dramatically, primarily due to high inventory and the willingness or need for buyers to drop prices.
There are over 4,000 off-water lots for sale with prices starting at $42,000 and many very good lots in the $50,000 to $60,000 range. (A year ago, dry lots were priced about 60% higher than they are today.)
The majority of these lots are in the NorthWestern and NortEastern sections of Cape Coral, where the expansion is occurring after the SouthWestern and SouthEastern portions of the city have matured.
There is not a great amount of diversity in Cape Coral dry lots, so most lot buyers start at the least expensive and look at progressively more expensive properties until they find one they like.
Looking specifically at the NorthWest section of Cape Coral, where many of the nicest dry lots are available, there are 170 currently listed, with prices from $49,900 to $150,000. Those priced at the high end have been on the market for many (many) months. Those priced under $60,000 sell relatively quickly.