We've had rain almost daily for the past two weeks, making it hot and sultry on Pine Island. Puddles have formed on the golf course, making it ideal feeding ground for the heron. The weather hasn't deterred the real estate market, I've been busy showing and writing some contracts. There were 3 lot sales and 10 home sales the past two weeks on Pine Island ranging from a simple cottage on one acre selling for $69,000 (a foreclosure) to a large bay front pool home for $885,000. The median sold price was a nice two bedroom, two bath home across from the library, which sold for $155,000. Two of the ten sales were foreclosures. The market is in transition, there are fewer and fewer distress sales (foreclosures or shortsales) and we are returning to more stable market conditions.
For more information about Pine Island real estate, contact me, Erika Foye, at erikafoye@embarqmail.com. I am an accredited buyer's representative and am up to date on the local Pine Island real estate market and local financing options.
