The Pine Island Florida real estate market bounced in both the number of sales (64 vs. 51) and the dollar volume of sales ($12,829,400 vs. $9,530,900) comparing the 1rst Quarter 0f 2008 with the 4th Quarter of 2007.
For the most part, the most affordable properties in each of their categories sold, with a few exceptions, such as a $1,100,000. water front home sale in Bokeelia.
Here's the breakdown of what sold on Pine Island, Florida from 01/01/08 thru 03/31/08:
Bokeelia (North end of Pine Island)
12 lots sold with a median price of $19,000.
7 off-water homes sold with a median price of $114,000.
1 water front home sold for $1,100,000.
3 water front condominiums sold, median price $285,000.
St. James City (South end of Pine Island)
10 lots sold/median price of $56,250.
5 off-water homes sold/median price of $185,000.
5 waterfront homes sold/median price of $480,000.
Matlacha (Small Island that is the Gateway to Pine Island)
7 Waterfront Homes sold/Median Price of $300,000.
There are still 144 waterfront homes for sale, 57 off water homes for sale, 20 condominiums for sale, and 363 vacant homesite lots for sale. Now's a great time for buyers to get real estate at a good price on Pine Island. In the first quarter, properties sold at between 82% and 93% of listing price. Pine Island is just a beautiful, low key place to live. The photo above is of our local bouganvilla farm, one of many nurseries and tree farms on Pine Island.
For more information about Pine Island real estate, go to my website at http://www.pineislandhomesandland.com/. Sincerely, Erika Foye
