RESIDENTIAL: ACTIVE, ACTIVE CONTINGENT SHORT SALES, PENDING, SOLD.
As of April 13, there were 295 active residential listings, ranging from a manufactured home at $39,900 to a single family home on 22.34 acres at $1,750,000 (way over priced for off-water homes). There are 23 "pending" singles family homes, 3 manufactured homes, and 4 condos. There are 13 "active contingent short sales" (under contract but not yet approved by the lender) single family homes, and one residential income duplex.
In February, 17 single family homes "sold", 7 manufactured homes, one condo, and one residential income property.
In March, 13 single family homes "sold", 4 manufactured homes, one condo, and 3 residential income properties.
VACANT LAND: ACTIVE, ACTIVE CONTINGENT SHORT SALES, PENDING, SOLD.
As of April 13, there were 304 active vacant land properties on the market, ranging from a residential lot at $7,500 to a 74-acre, waterfront, fly-in subdivision for $2,250,000 (with a development order in place). There are 5 "pending" land sales and 9 active contingent short sales.
In February, there were 7 land sales.
In March, there were 9 land sales.
For more information about the Pine Island real estate market, contact Margaret Birdsong at 866-768-2895.
Monday, April 19, 2010
Tuesday, February 9, 2010
January 2010 Market Results
There were 21 total residential sales on Pine Island in January 2010. That's the highest monthly number since July, 2009, which was 22. Currently, there are 281 active residential listings. There is one active contingent property, 17 active contingent short sales (seller has signed but lender has not accepted the offer), and 29 pending sales (under contract and waiting for closing).
The land market is a different story. There was only one land sale in January 2010, which is lower than any other month last year - February and November 2009 had 2 land sales. There are 285 active land listing on the market. Waiting in the wings are 8 pending sales, 3 active contingent short sales, and one active contingent.
Out of the 8 pending land sales, this agency has 3 waterfront lots that are scheduled for closing this month - that's 38%!
Hopefully, January represents the low point in the land market and we will see an increase in land sales during the rest of this year!
The land market is a different story. There was only one land sale in January 2010, which is lower than any other month last year - February and November 2009 had 2 land sales. There are 285 active land listing on the market. Waiting in the wings are 8 pending sales, 3 active contingent short sales, and one active contingent.
Out of the 8 pending land sales, this agency has 3 waterfront lots that are scheduled for closing this month - that's 38%!
Hopefully, January represents the low point in the land market and we will see an increase in land sales during the rest of this year!
Monday, February 8, 2010
2009 Market Results
Closing out 2009 (I finally had the time to accomplish this task!) . . . it was a better year for home sales on Pine Island. The total number of home sales was 198 - the best year since 2005! There were 40 in the first quarter of the year, 66 in the second quarter, 43 in the third quarter, and 49 in the fourth quarter. What accounts for this increased activity you ask? . . . foreclosures and short sales dropping into the market and driving down the prices. Sellers with normal sales (not foreclosures or short sales) also had to price lower in order to compete!
Land sales in 2009 were not so high with 53 total sales all year - the lowest number of land sales since before 1999, which is as far back as our MLS will allow us to go to collect data. There were 9 in the first quarter, 18 in the second quarter, 15 in the third quarter, and 11 in the fourth quarter. Prices are low and buyers are scarce!
Even through all this, our agency had the best year in total sales and revenues since 2005!
My next post will be about January 2010 sales and current active and pending listing activity in residential and vacant land properties.
Land sales in 2009 were not so high with 53 total sales all year - the lowest number of land sales since before 1999, which is as far back as our MLS will allow us to go to collect data. There were 9 in the first quarter, 18 in the second quarter, 15 in the third quarter, and 11 in the fourth quarter. Prices are low and buyers are scarce!
Even through all this, our agency had the best year in total sales and revenues since 2005!
My next post will be about January 2010 sales and current active and pending listing activity in residential and vacant land properties.
Monday, November 2, 2009
October Update
The Pine Island residential real estate market had 14 sales in October, 2009 ranging from an off-water Jim Walters home that sold for $95,900, to a bayfront home in St. James City that sold for $825,000.
As of this post, there are 232 active residential listings ranging from $54,000 for a manufactured home to $2,650,000 for a home situated on a private island.
There are 4 active contingent, 19 active contingent short sales, and 22 pending residential listings throughout Pine Island - Bokeelia, St. James City, and Matlacha!
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The vacant land market had 2 sales in October, ranging from a 12.5-acre parcel that sold for $110,000 and a waterfront lot in Bokeelia that sold for $160,000.
There are 257 vacant land listings ranging from $7,500 for a small lot in Sundiet Village to $7,900,000 for a 74-acre subdivision called Tranquility Bay.
There are no active contingent, one active contingent short sale, and 2 pending vacant land listings in the area as of this post.
The total inventory of residential and vacant land listings is "inching" down by a few each month; however, there is still high inventory and low prices! It's a great time to buy!
As of this post, there are 232 active residential listings ranging from $54,000 for a manufactured home to $2,650,000 for a home situated on a private island.
There are 4 active contingent, 19 active contingent short sales, and 22 pending residential listings throughout Pine Island - Bokeelia, St. James City, and Matlacha!
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The vacant land market had 2 sales in October, ranging from a 12.5-acre parcel that sold for $110,000 and a waterfront lot in Bokeelia that sold for $160,000.
There are 257 vacant land listings ranging from $7,500 for a small lot in Sundiet Village to $7,900,000 for a 74-acre subdivision called Tranquility Bay.
There are no active contingent, one active contingent short sale, and 2 pending vacant land listings in the area as of this post.
The total inventory of residential and vacant land listings is "inching" down by a few each month; however, there is still high inventory and low prices! It's a great time to buy!
Tuesday, October 13, 2009
September Market Activity
There were 10 residential sales in September . . . the same number as in August . . . but less than in all other months this year. The sales ranged from a foreclosed home that needed extensive work, which sold for $49,900 to a short sale home on 7.9 acres that sold for $368,968.
At the time of this writing, there are 234 active residential listings on the market in the MLS, 2 active contingent listings, 24 active contingent short sales, and 15 pending sales (under contract). The total number of active residential listings has been steadily declining - these include single family homes, manufactured homes, condos, duplexes, triplexes, and quadruplexes.
Looking at residential sales on a quarterly basis - in the first quarter of 2009 Pine Island had 40 sales; second quarter 63 sales; and third quarter 40 sales.
There were 6 vacant land sales in September, ranging from $7,000 for a mobile home lot to $65,000 for a waterfront lot in Charlotte Shores in Bokeelia.
There are 263 active vacant land listings, zero active contingent, one active contingent short sales, and 2 pending sales. The total number of active vacant land listings has also been steadily declining - these include small residential lots for $7,250 up to $7,900,000 for a 74 acre waterfront subdivision in Bokeelia called Tranquility Bay. There is a development order on this acreage, which was originally designed as a fly-in community for residents with small personal aircrafts.
On a quarterly basis, there were 9 land sales in the first quarter, 17 in the second quarter, and 15 in the third quarter.
If this trend continues through the fourth quarter, 2009 will be very close to the overall number of residential and land sales in 2008 - 179 residential and 64 vacant land parcels sold.
At the time of this writing, there are 234 active residential listings on the market in the MLS, 2 active contingent listings, 24 active contingent short sales, and 15 pending sales (under contract). The total number of active residential listings has been steadily declining - these include single family homes, manufactured homes, condos, duplexes, triplexes, and quadruplexes.
Looking at residential sales on a quarterly basis - in the first quarter of 2009 Pine Island had 40 sales; second quarter 63 sales; and third quarter 40 sales.
There were 6 vacant land sales in September, ranging from $7,000 for a mobile home lot to $65,000 for a waterfront lot in Charlotte Shores in Bokeelia.
There are 263 active vacant land listings, zero active contingent, one active contingent short sales, and 2 pending sales. The total number of active vacant land listings has also been steadily declining - these include small residential lots for $7,250 up to $7,900,000 for a 74 acre waterfront subdivision in Bokeelia called Tranquility Bay. There is a development order on this acreage, which was originally designed as a fly-in community for residents with small personal aircrafts.
On a quarterly basis, there were 9 land sales in the first quarter, 17 in the second quarter, and 15 in the third quarter.
If this trend continues through the fourth quarter, 2009 will be very close to the overall number of residential and land sales in 2008 - 179 residential and 64 vacant land parcels sold.
Tuesday, September 8, 2009
August 2009 Market Activity
Residential sales were down in August to 10 total sales ranging from $38,000 for a manufactured home to $258,000 for a single family waterfront home. There are 10 "pending" sales, 20 "active contingent short sales", and 2 "active contingent sales". The residential inventory of "active listings" is down to 239 ranging from $47,000 for a manufactured home to $2,650,000 for a home on a private island off the southern end of Pine Island.
The number of vacant land sales for August were 4 ranging from $20,000 for an off-water lot to $185,000 for a single family waterfront lot. There are 4 "pending" sales, 1 "active contingent short sale", and no "active contingent sales". The land inventory is now at 276 - ranging from a small lot priced at $7,250 to $9,900,000 for a 74-acre waterfront subdivision know as Tranquility Bay on the east side of the Island.
The number of vacant land sales for August were 4 ranging from $20,000 for an off-water lot to $185,000 for a single family waterfront lot. There are 4 "pending" sales, 1 "active contingent short sale", and no "active contingent sales". The land inventory is now at 276 - ranging from a small lot priced at $7,250 to $9,900,000 for a 74-acre waterfront subdivision know as Tranquility Bay on the east side of the Island.
Tuesday, August 4, 2009
Current Inventory and July Sales
Our housing and land inventories are going down as properties sell, others go pending under contract, and still others drop out of the market . . . expired, withdrawn, or terminated.
On the housing side there are currently 247 "active" listings ranging from a $54,ooo manufactured home to $2,650,000 for a home on a small, private island in St. James City. From May 5 to August 3, the median list price of homes was $287,000. Although there are many affordable homes on the Island, there are several in the million dollar range that affect the median price.
There are 2 "active contingent" homes - both waterfront, single family. There are 15 "active contingent short sale" homes ranging from $99,000 for a manufactured home up to $899,000 for a waterfront, single family home. There are 14 "pending" sales ranging from $61,750 on a single family home to $269,000 on a condo.
In the month of July there were 20 residential sales. These sales ranged from $60,000 for a manufactured home up to $675,000 for a waterfront, single family home.
On the vacant land side the current "active" inventory is 281 parcels . . . from $7,250 for a small single lot in Pineland to $13,000,000 for a 74-acre waterfront property that has a development order for 57 homesites -Tranquility Bay on the east side of the Island.
There are no "active contingent" listings and only one "active contingent short sale" listings. Four parcels are "pending" and these are priced from $25,000 to $699,000 for a 7.71 commercial property.
Vacant land sales for July numbered 5 . . . from $19,900 for a 1/2 acre lot to $398,000 for two bayfront lots in Matlacha.
Some say that the bottom of the housing market has come and gone and that we are now stabilizing. That may be in some areas of the country; however, we are still experiencing short sales and foreclosures dropping into the market that will continue to affect normal sales by driving the prices down. I will continue to monitor the situation and keep you informed!
On the housing side there are currently 247 "active" listings ranging from a $54,ooo manufactured home to $2,650,000 for a home on a small, private island in St. James City. From May 5 to August 3, the median list price of homes was $287,000. Although there are many affordable homes on the Island, there are several in the million dollar range that affect the median price.
There are 2 "active contingent" homes - both waterfront, single family. There are 15 "active contingent short sale" homes ranging from $99,000 for a manufactured home up to $899,000 for a waterfront, single family home. There are 14 "pending" sales ranging from $61,750 on a single family home to $269,000 on a condo.
In the month of July there were 20 residential sales. These sales ranged from $60,000 for a manufactured home up to $675,000 for a waterfront, single family home.
On the vacant land side the current "active" inventory is 281 parcels . . . from $7,250 for a small single lot in Pineland to $13,000,000 for a 74-acre waterfront property that has a development order for 57 homesites -Tranquility Bay on the east side of the Island.
There are no "active contingent" listings and only one "active contingent short sale" listings. Four parcels are "pending" and these are priced from $25,000 to $699,000 for a 7.71 commercial property.
Vacant land sales for July numbered 5 . . . from $19,900 for a 1/2 acre lot to $398,000 for two bayfront lots in Matlacha.
Some say that the bottom of the housing market has come and gone and that we are now stabilizing. That may be in some areas of the country; however, we are still experiencing short sales and foreclosures dropping into the market that will continue to affect normal sales by driving the prices down. I will continue to monitor the situation and keep you informed!
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