Skip to content
Advertisements

Cape Coral Gulf Access Vacant Lot Update

UPDATE DECEMBER 2011. In the last Cape Coral Vacant Lot Update, we wrote about prices for high-end Direct Access (“Sailboat”) residential canal lot prices. In this December 2011 update, we cover upper-end Gulf Access lots with these characteristics:

  • Gulf Access (one or more bridges to pass under)
  • Seawall in place
  • No lift to pass over (may have a lock to pass through)

The saltwater canal lots with these characteristics are generally in the Southwest area of Cape Coral. Our analysis of recent activity included active listings, pending sales, and closed sales. We threw out some very high priced waterfront land (exceptional lake views, oversized parcels) and some very low priced waterfront parcels (frontage on a major thoroughfare, less than 80’ of seawall).

The analysis shows that the average asking price for Gulf Access canal home site is just under $150,000. The average sales price (from October 2011 through December 10th 2011) was $85,000, with over 50 lots sold in this period.

Sale prices are at 30% of the market high in January of 2006. This market has bottomed out and sales are increasing, as inventories are depleted we expect that prices will once again climb. The better locations are rapidly disappearing from the market.The lot pictured here is in the Southwest portion of Cape Coral, and sold for $84,000 in September 2011.

For more information on the types of waterfront property available in SouthWest Florida and the characteristics of each, visit Waterfront Types on SageRealtor.com.

Advertisements
4 Comments Post a comment
  1. Hello Paul,
    If we understand your question correctly, you are asking if there are restrictions on building a home on a gulf access or freshwater canal?
    You might be referring to an issue of a few years ago where there were restrictions on getting permits for new docks on saltwater canals, an issue that developed regarding manatee protection. The government agencies involved reached agreement and the dock permitting issue is no longer problematic for single family residences. We don’t know of any other restrictions, other than those dictated by standard permitting and building codes.
    If this does not answer your question, please clarify and we’ll reply again. Best, Brenda

    September 25, 2006
  2. Paul Spoutz #

    Someone mentioned to me that the Corp of Engineers has prohibited the future development of fresh water and gulf access canals throughout the entire state of Florida. Is this true? If so, how can I find out more information about this.

    September 25, 2006
  3. Thanks Ralph,

    We agree about the view… and watching the fish and birds play in the water. Precious.

    And you are right, we have not yet addressed freshwater, and we have yet to make the distinction between regular canal lots, intersecting canal lots, and lakefront lots.

    Freshwater coming up!

    September 13, 2006
  4. Ralph Kempf #

    Great articles. Love to hear a brief synopsis of freshwater lots. It’s a category that usually gets overlooked. For me, it’s the view. To look across my pool to further water, maybe a few palm trees, is all I need. Intersecting canals, so much the better. I hear very little about the hows and whys of pricing freshwater.
    Thanks again for your insights.

    September 13, 2006

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: