Good Market News march 2010
February this year was the beginning of our market stabilizing.
We have all been waiting patiently for the market to rebound and though sales of homes have increased in volumn 45% as compared to the same period in 2009, the big surprise has been the rebound in sales acitivity in the condo market.
Sanibel and Captiva have seen a 60% increase in the amount of condo activity the first 83 days of 2010 as compared with last year's dismal sales reports for the same period. Our office has seen our best month ever reaching 30 sales as of 3/23 and we have 8 days to go for our final count! We are hopefull and relieved...the gloom seems to be over.
However, I dont see a rapid increase in the sales prices. That will take time. A normal pattern reminiscent of the sales on the island in the 80's nd 90's will again occur. Buying on the Island was a life choice 30 years ago and it is once again the new motivation.
Wewill enjoy a communtiy of owners who live here a majority of the year who are involved in making the communtiy a better place to live and enjoy family.
Price appreciation will be slow and steady...not volcanic as it was since 2003. Appreciation will once again be defined as " a deep appreciation of the Island" Owners will appreciate their memories and appreciate the founding fathers and mothers of the island who fought the county to preserve the Island in the 70's.As our inventory of properties is reduced, we will be back to the pace of 1-3%appreciation once again.
With steady growth comes a new buyer profile. The Number 1 goal of the buyer of 2010 is to improve their own life story. Maybe that is what value is all about.
