In November there were 10 sold residential properties on the Island that ranged in price from $84,900 for a manufactured home to $445,000 for a single family home. That is the highest number of residential solds since July when there were 19!
The current total inventory of residential listings on the Island is 348 - ranging from $39,900 for a small manufactured home to $1,995,000 for a bayfront single family home. There are definitely some bargains available and now is the time to buy!
Also in November there were NO vacant land sales . . . the worse month this year. In 2008, there will be the lowest number of overall land sales since before 1999.
The current total inventory of vacant land listings is 377 - ranging from $14,000 for a small lot in Sundiet Village to a package deal of multiple waterfront lots in St. James City that is listed for $1,500,000.
The short sales and foreclosures (although few in number compared to other areas like Cape Coral) are driving some prices down. We keep a positive attitude and trust that 2009 will be a better year for the real estate market!
Have a very Merry Christmas and a Happy New Year!
Tuesday, December 2, 2008
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