Statistics: Lots and land sales in Rotonda (Rotunda) Pinehurst, FL: September, 2006
Sales of lots and land have been very slow in Southwest Florida for most of 2006. Rotonda (Rotunda) Pinehurst, FL had 44 standard building lots listed for sale in the Englewood / Rotonda (Rotunda) MLS system in the month of September, 2006. No lot sold in this section, according to the MLS, in the month of September.
Pinehurst is the third oldest section in Rotonda (Rotunda) West. Most of the homes were built in the 90’s with a few newer and older. Buyers are looking for a lot to build a middle pried home in the Pinehurst Section. The newer styling of most homes in Rotonda (Rotunda) West Pinehurst will help keep the value higher.
Of the 44 available lots in Rotonda (Rotunda) Pinehurst, FL, the lowest asking price was $74,900. The highest asking price was $169,900. Lots and land for sale in Rotonda (Rotunda) West, Florida are very similar in size and features and it is unlikely that a potential buyer would pay as high a price in Pinehurst as in other, newer sections of Rotonda (Rotunda) West where there are very modern and more expensive homes. Recent speculation in these lots has caused an unreasonable price escalation.
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. While there are still a fair number of lots available, Pinehurst is largely built out and new homes will compete with older at resale. Buyers should consider another section if their intended new home will exceed $350,000 in today’s prices. While there are homes in Pinehurst with values over $400,000, they become more difficult to resell in an area where there are many homes valued under $300,000.
Buyers of lots in Pinehurst should not pay more than $60,000 at this time and should not construct a new home valued over $280,000 ($350,000 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