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Sunday, June 26, 2011

What is the real estate supply on Pine Island, Florida right now?

It seems like real estate sales are picking up on Pine Island.  I sold this nice rural home, which closed this week.  To see if my sense is right, that supply is tightening up a little, I did a study of what types of properties have sold the past six months, and how many properties of those types are now listed for sale.

The least amount of supply is actually off water Pine Island homes.  36 have sold in the past six months.  55 are offered for sale, so there is a 7.6 month supply of off water single family homes on Pine Island.

There is more supply for water front homes.  47 water front homes have sold in the past six months.  115 water front homes are offered for sale, so there is 1.2 year supply of water front homes for sale on Pine Island.

There have been 38 manufactured home sales in the past 6 months, and 60 are offered for sale, so there is a 9.5 month supply of manufactured homes for sale.

The supply of land (both water front and off water) and condominiums is in excess of 3 years! 

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