It's the Time to Buy Lehigh Acres, FL Real Estate

Lehigh Acres, a unincorporated, pre plotted community located fifteen miles to the east of Fort Myers has become a hotspot for home buyers and investors looking to cash in on a surplus of vacant homes and lots.  To say the least, the Lehigh Acres, FL real estate market is a buyers’ market!  The community was developed rapidly throughout the housing boom of the mid-2000’s, but when the real estate bubble burst, foreclosure rates skyrocketed.  As the market has begun to recovery in the area, Lehigh Acres has seen sales and prices increase, although they remain relatively low for the Southwest Florida region as a whole.  This, coupled with a high inventory of available land for sale is drawing buyers to Lehigh Acres, FL real estate. 

Lehigh Acres was settled in the mid 1950’s and developed to become a pre plotted community of 100,000 lots that promoted sun and quiet living.  The community was developed slowly and by 2000 the majority of the lots had been sold, but few had been built on.  At that time, the population of Lehigh Acres was a mere 30,000 residents living in 13,813 homes.  In the mid 2000’s, a real estate boom in the area began and new home construction became the driving force behind Lehigh Acres local economy.  New homes were popping up in Lehigh Acres on a daily basis and in a 2 year time period, from 2004 to 2006, 13,813 new homes were built, nearly doubling the number of residences in the community. In 2007, all that came to a screeching halt.  Houses began to stop selling and new construction listings turned into listings for foreclosure properties and listings for foreclosed land.  Lehigh Acres saw a significant drop in median home prices during this time with prices falling from a peak of $322,300 in December of 2005 to $106,900 in May of 2008. 

As the national real estate market has begun to rebound, improvement in the Lehigh Acres market has been seen as well.  Investors are flocking to the area to snatch up deals on land, lots and existing homes in Lehigh as well as on neighboring Cape Coral land.  If you are interested in investing in Lehigh Acres, FL real estate give the Land Sales Team at a call at (239) 333-2221.

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