Statistics: Lots and land sales in Rotonda (Rotunda) Broadmoor, FL: September, 2006
Sales of lots and land have been very slow in Southwest Florida for most of 2006. Rotonda (Rotunda) Broadmoor, FL had 34 standard building lots listed for sale in the Englewood / Rotonda (Rotunda) MLS system in the month of September, 2006. Only one lot sold in this section, according to the MLS, in the month of September. That lot sold for $95,000. It is located on Rotonda Circle and it is a waterfront lot.
Broadmoor is a newer section in Rotonda (Rotunda) West. Most of the homes were built in the later 90’s and into the 2000’s. Buyers are looking for a lot to build a little better than a middle priced home in the Broadmoor Section. The newer styling of most homes in Rotonda (Rotunda) West Broadmoor will help keep the value higher. The average (and median) price of homes currently for sale in Broadmoor is $386,000.
Of the 44 available lots in Rotonda (Rotunda) Broadmoor, FL, the lowest asking price was $59000, a very good buy for someone intending to build soon. The highest asking price was $158,900. Lots and land for sale in Rotonda (Rotunda) West, Florida are very similar in size and features and Broadmoor can be very competitive with other sections of Rotonda (Rotunda) West.
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. While there are still a fair number of lots available, Broadmoor is largely built. Buyers should consider another section if their intended new home will exceed the low $400,000’s in today’s prices. While there are homes in Broadmoor with values well over $400,000, they become more difficult to resell in an area where there are many homes valued under $325,000.
Buyers of lots in Broadmoor should not pay more than $65,000 at this time and should not construct a new home valued over $350,000 ($415,000 total land, home, impact) at this time. If your intended new home will be more expensive, shop in a different section of Rotonda (Rotunda) West, FL.
Sellers – Know what your Rotonda (Rotunda) property is worth in today’s market. Click here for a FREE, NO OBLIGATION MARKET ANALYSIS of your specific lot.
Jim Mulligan (941) 456-3034
Andy Leonard (941) 662-0033