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.
Tuesday, October 13, 2009
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