Latest Pine Island Real Estate Sale Statistics

The recent economic gyrations do have their upside for real estate buyers, though the economic stormy weather may not be good for sellers of real estate on Pine Island.  The upside for buyers is that mortgage rates are at just about their lowest levels in decades (around 4.5% for thirty year fixed), and real estate prices for single family water front homes are down about 5% since this time last year.  The median sale price for a single family water front home in the Pine Island communities of St. James City, Bokeelia and Matlacha was $247,000. in 2011, as opposed to $260,000. during the same period in 2010.  Land prices have fallen even further, with the median price of a residential lot now at $20,000.

Interestingly though, condominium prices have actually risen about 7% year over  year on Pine Island (median price last year was $190,250; median price this year was $205,000) reflecting a decrease in supply.  Median price of single family off-water homes was exactly the same year over year, at $118,500.

The current supply of real estate now listed in the MLS is as follows:

111 Single Family Water Front Homes

49   Single Family Off Water Homes

31   Condominiums

56   Manufactured Homes

11   Multi-family (duplexes)

74   Water Front Lots

208 Off Water Lots

12   Commercial Properties

So see the latest sales statistics for Pine Island real estate in more depth, go to my real estate website http://www.pineislandhomesandland.com/ and click on real estate statistics.  To search for Pine Island real estate on your own, go to my real estate search website, http://www.pineisland.listingbook.com/ and sign up for your free account.  I am Erika Foye, real estate broker for All Island Realty, Inc., an accredited buyers' representative.  With more than 500 properties now listed for sale on Pine Island, I can assist buyers in finding the best property at the best price.  If you would like to receive my quarterly Pine Island real estate newsletter, please email erikafoye@embarqmail.com.

Latest Pine Island, Florida real estate sale statistics

Wow, I can't believe it has been 30 days since I posted on my Pine Island blog. . .for two reasons.  One I've been busy showing real estate, and two, the weather has been so beautiful that I've been out bike riding and horseback riding.   Real Estate sales have picked up this fall.   So far in 2010, more real estate has sold on Pine Island Florida than any year since 2005.   We are on track to have about 300 closed real estate transactions, through the MLS, this year.

Here has what has sold on Pine Island, in 2010, through November 15, 2010:

Bokeelia:  14 Waterfront Homes have sold, median price of $335,000.
                46 Off water Homes have sold, median price of $111,000.
St. James City:   36 Waterfront Homes have sold, median price of $295,050.
                          20 Off water Homes have sold, median price of $122,750.
Matlacha:  29 Waterfront Homes have sold, median price of $218,000.

Island wide, including the Pine Island communities of Bokeelia, St. James City, and Matlacha:

14 Condominiums have sold, median price of $190,250.
37 Manufactured homes have sold, median price of $105,000.
6   Duplexes have sold, median price of $97,950.
3   Commercial properties have sold, median price of $230,000.
16 Water front lots have sold, median price of $128,000.
28 Off water lots have sold, median price of $15,000.

It couldn't be a better time so buy real estate on Pine Island, since prices are back to where they were nearly a decade ago.  For more information about Pine Island and Pine Island real estate, contact me, Erika Foye, real estate broker for All Island Realty, Inc. at erikafoye@embarqmail.com.

(I recently listed for sale one of the only bayfront lots available on Pine Island.  This beautiful lot measures 92 X 139 X 98 X 169.  It overlooks San Carlos Bay, Ding Darling Wildlife Refuge and the intercoastal water way and santuary islands.  The list price is $589,000.)