By Kelly Reark
This week, I thought I would share some striking real estate statistics from my small local market area. Gasparilla Island is only a snapshot of what is happening locally, and hopefully what is or will be happening across our state and country.
In the first quarter of 2009, only two contracts closed on Gasparilla Island. The second quarter brought 14 closings, third quarter had nine, and the fourth quarter closed out with seven, for a total of 35 closed properties in 2009. This was down from the 2008 total of 41 properties closed.
Since the New Year, showing activity has picked up. Already this year, eight contracts have closed and 11 sales are pending on our island. Total dollar volume for the under contract and closed contract listings already tops 75 percent of what the total was for 2009. Many of what I considered to be our “best deals” have gone under contract. With a market area as small as mine, it only takes a few sales to drive up competition once again.
I encourage each of you to find statistics like these for your local market area. When I get a walk-in to our office with the familiar question, “So how’s real estate been lately?” I can answer with facts that will really grab their attention. It lets them know that the sky is not falling and quiets the Chicken Little response they were expecting. A response like this gives me credibility, puts the focus on my knowledge of my market, and puts them on track to look at property with the mindset that I want them to have.
Kelly Reark is a native Floridian and e-PRO REALTOR® with Gasparilla Properties, Inc. in Boca Grande, Southwest Florida. Visit her blog: www.BocaGrandeRealEstateNews.com.