November 2008 Real Estate Sales on Pine Island, Florida

November real estate closed sales were off quite a bit from previous months this year, a hang over, I think, from the financial crisis which hit the radar in September. Only nine single family homes sold, the average sale price was $183,678.

There is good news on the horizon: prices are more affordable than the past five or six years and 30 year fixed mortgage interest rates (for qualified buyers) will be under 6%, around 5.25%. There were 24 home and lot sales pending as of the end of November on Pine Island...watch for a summary of total 2008 real estate sale statistics coming here soon. Meanwhile, here's a couple photos of why people love Pine Island: going fishing out of Jug Creek, and kayaking amongst flocks of white pelicans in Pine Island Sound!

2007 Real Estate Sales for Pine Island, Florida

Through the 3rd quarter of 2007, here is a summary of Pine Island, Florida real estate sales, as reported in the multiple listings service for the Realtor Association of Greater Ft. Myers and the Beach:

30 Waterfront Homes sold with a median sales price of $417,000.

33 Off water Homes sold with a median sales price of $210,000.

6 Waterfront Condominiums sold with a median sales price of $305,000.

3 Duplexes sold with a median sales price of $170,000.

In my next post, vacant lots and agricultural land sales on Pine Island for 2007 will be posted.

Attached is a photo of a classic Bokeelia old Florida style home. To find out more about real estate on Pine Island, Florida, go to http://www.pineislandhomesandland.com/.