Vacant land driving rapid escalation
According to figures released by the Lee County Appraisers Office, residential real estate prices in Lehigh were up 99 percent over the last year. It should be noted that this increase figure is highly skewed by the significant number of vacant lots that turned hands in this period.
The market just continues to crank, over the past couple of weeks I have sold lots to builders that were acquiring over 20 lots at a time. The amazing thing about the Lehigh market is that new construction activity is occurring almost everywhere throughout the 102 square mile community. Lehigh is the antithesis of a planned community like Celebration, FL or Reston, VA where construction moves in an orderly fashion according to a master plan.
The current population of Lehigh is approximately 50,000 residents and it is estimated that there are between 85,000-90,000 lots vacant plated lots in the community.
Lehigh’s real estate turns red hot [News-Press]