The publisher of the Pine Island Real Estate Guide asked me to provide an update of the 2nd Quarter real estate sales so far this year. There was substantial improvement over the 1rst quarter, with $18,378,000. in real estate sales in the 2nd Quarter of 2008 (so far) and $12,829,400. in real estate sales during the first quarter. That's an impressive 40% increase in dollar volume of real estate sales on Pine Island.
There were 20% more sales during the 2nd quarter so far, compared to the 1rst Quarter of 2008. There were 77 real property sales through the MLS so far this quarter: 40 single family homes, 14 homesites, 5 condominiums and 16 manufactured homes sold.
The ratio of asking (listing) price to sold priced was between 85-89%. I think our Pine Island real estate market is at the bottom, and is recovering. Like this tortoise, the pace of the real estate recovery will be slow but steady. For more information about Pine Island, Florida real estate, go to my website: www.pineislandhomesandland.com.
