Pine Island Real Estate Market Trends – Florida

Pine Island, FL Waterfront Homes Market Report, Octber 2011 - October 24th, 2011 12:35pm
Gulf Access Waterfront Homes are the primary and most popular property for 2nd home owners, relocating homeowners and retirees on Pine Island. Pine Island offers a tropical island atmosphere and waterfront that leads to some of the best fishing, boating and sailing waters in Florida.

The current inventory shows that there are 170 single family homes currently listed for sale on Pine Island. Of the 170 homes, 59 are off-water and the other 111 are on Gulf access waterfront.

Closed sales over the last 90 days (July 26th through Oct 24th) show that the average list price of the sold waterfront homes was $288,670 and the average sold price was $259,511. There are currently 41 homes listed that are priced at the current average list price of $290,000 or less.
It is apparent that the opportunity to pick up a home at the average sale price of $259,000 is still available but is getting slimmer as the inventory sells.

The market comparison below is based on 90 days of sales that occurred between July 26th 2011 and Oct 24th, 2011 versus the same time period in 2010. The source of the statistics is the Realtor Association of Greater Fort Myers and the Beaches MLS data base.

Sales of Single Family Homes (Excludes Mobile/Manufactured housing) between July 26th 2011 and Oct 24th, 2011 Show 41 sales with an average living area of 1,604 sq ft, an average List Price of $241,176 sq ft, and an average sale price of $219,723
18 Off Water homes sold with an average living area of 1,756 Sq Ft, and average list price of $180,489 and an average sale price of $168,882
23 Waterfront homes sold with an average living area of 1,484 sq ft, an Average List Price of $288,670 and an average sale price of $259,511

Last year during the same time period, July 26th, 2010 through August 24th 2010 show 40 sales of single family homes with an average of 1,525 sq ft of living area, an average List Price of $234,835, and an average sale price of $209,209
21 Off water homes sold last year with an average living area of 1,466, an average list price of $134,243 and an average Sale price of $123,945
19 Waterfront homes sold in 2010 with an average living areas of 1,589 sq ft, an average List Price of $346,016 and an average sold price of $303,447


Percentages show that the list price for all home sales on pine island are up by an average of 2.70%, the Average Sale Price is up 5.03%, and homes are selling at an average of 91.10% of their list price
. When we break the market down between off-water and waterfront we see that off water is increasing and waterfront is decreasing in price. Off Water Sales show the the Average List Price is up by 34.45%, the Average Sale price is up 36.26%, and they are selling on average at 93.57% of their list price
Waterfront Sales, on the other hand, show that the Average List Price is down -16.57% and the Average Sale price is down by -14.48% and that they are selling on average at 89.90% of their list price

This means that there is still an opportunity to pick up waterfront homes on Pine Island at exceptional values... [ + Read Full Article ]

News for Pine Island, FL - June 29th, 2011 3:41pm
The housing market conditions report found on this website provides a somewhat skewed view of the true nature of Pine Island real estate as only single family homes are used to form the overall picture and all of these were lumped together whether they were on-waterfront or off-water. In reality Pine Island has five seperate and distinct real estate property markets and you'll find wide variations within each of these markets; The single family homes vary widely between size, age, lot size, features, amentities, waterfront or off-water, as to the condominiums and manufactured/mobile homes that can be found on Pine Island. When studying market trends and market conditions it is best to determine the type of property and the price point and then ask for a market report to fit that specific profile, this will give you the best data to determine the true property values and market trend projections for the property and location you desire.