Wednesday, May 27 2009
The news through May of 2009 about real estate sales on Sanibel is mixed.
We are looking somewhat similar to last year in number of sales. This year so far, 48 homes have closed which averages roughly 10 per month or 120 for the year. In 2008, 146 house were sold so we are down in the house category. In the Condo category, thus far 48 condos have closed which averages roughly 10 or 120 for the year. In 2008, 95 condos sold so we are up in the Condo sales category. We have 30 homes and 24 condos that are under contract to close so things are definitely moving. We also have many people here looking so my belief is that things will continue to be busy for the next 6 weeks or so.
What is also true however, and good news for buyers, is that the average sales price of both homes and condos is off by about 15 - 20 percent. There continue to be some great values out there so what are you waiting for?
If you would like more detail on the current market and how this affects your Island real estate decisions to buy or sell, contact me. It's a sensational day in paradise.