Cape Coral Land Sales

[Neal Coppola]

Long story short, I have a water front piece of land in NW Cape Coral that I have been trying to sell for nearly a year without success.  Being an out of state owner, I don't know the dynamics of the market.  Have things come to that much of a halt?  Is land still trading?  Any local input would be appreciated.

[Adam Bartomeo]

@Jason Wray @Neal Coppola

Jason is 100% WRONG! He has no idea what is going on here and should refrain from spreading inaccurate information. I am a local broker, property manager, and investor in Cape Coral. This is the worst sales market we have seen in well over a decade. The median home price has dropped by $80k in 8 months, days on market has gone up by 800% in 2 years. The average home takes 3 price reductions before going under contract. The "storm" has nothing to do with the Cape Coral market as the it impacted us as a tropical storm.

The Facts!

There are 1,085 lots for sale JUST IN the NW Cape

Only 244 sold in the last 4 months

That is 17.8 months of inventory!!! An average market would be at 6 months of inventory. Just based on this number I would tell you it is a terrible market and Jason is completely inaccurate.