Statistics for lot sales in Rotonda (Rotunda) Villas & Meadows, FL, September, 2006
Sales of lots and land have been very slow in Southwest Florida. Rotonda (Rotunda) Villas & Meadows, FL had 248 standard building lots listed for sale in the Englewood / Rotonda (Rotunda) MLS system in the month of September, 2006. Only two sales were recorded in this section, according to the MLS, in the month of September.
Of the 248 available lots in Rotonda (Rotunda) Villas & Meadows, FL, the lowest asking price was $19,900. The highest asking price was $199,000. The average asking price was $64,000. The average price was skewed when several owners asked unreasonable prices for lots in the area. Land and lots in Rotonda (Rotunda) Villas & Meadows, FL (inc. Lakes & Sands) are very similar in size and features and it is unlikely that a potential buyer would pay a significantly higher price than a similar building lot. With a significant number of choices under $25,000, it is unlikely that a buyer would pay more. The preceding dynamic link is current, up to date pricing.
Speculation in these lots has caused an unreasonable price escalation. While a slight variation in price is expected, depending upon size, location and view, this wide range of prices is unreasonable.
It is doubtful that a significant rebound in prices will occur in the near future. Investors have left the market and the vast majority of buyers are in the market for personal use. Vacant land and lot prices will follow area development and reflect the value and number of homes in that community. Rotonda (Rotunda) Villas & Meadows, FL is currently sparsely developed which could inhibit growth for some time.
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Jim Mulligan (941) 456-3034
Andy Leonard (941) 662-0033