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 expired, withdrawn, or terminated.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!
Tuesday, August 4, 2009
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