Venice Area Homes Blog

Property Update Report by Kari A. Battaglia, PA

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The report summarizes listings sold, as well as active/pending listings for Pelican Pointe Golf & Country Club.  Listings summarized in the following table are based on information from the Mid Florida Regional MLS and/or other MLS Services.  Properties sold were not all listed by Coldwell Banker Residential Real Estate and were listed by various MLS participating offices.  Please note that For Sale By Owner properties are excluded because they often do not represent the full value of what they could sell for when properly priced and exposed to a greater number of qualified buyers through a professional real estate agent.  The most recent listings sold are shown in more detail below as they represent the best indication of change in property values.

Summary of Solds Pelican Pointe Golf & Country Club 2/15/2010 to 05/15/2010

02/16/10       729 Back Nine Dr         3/2     1999        $295,000      $220,000      -25.42%               71

02/26/10       601 Back Nine Dr         2/2     2000        $193,000      $180,000      -6.73 %                 9

03/15/10       1062 Tuscany Blvd      3/2      2005        $529,900      $500,000      -5.64%                 36

03/16/10       1008 Grouse Way       4/2      2003        $417,700      $397,000      -4.95%                 36

03/19/10       1299 Tuscany Blvd      3/3      2006        $499,000      $450,000      -9.81%                578

03/29/10       835 Blue Crane Dr       3/2     1998         $369,900     $342,500       -7.4 %                  21

3/31/10       1213 Knollcrest Ct        3/2      2000         $471,500      $468,500      -0.06%                  10

04/02/10       1015 Grouse Way       3/3      2003         $399,000      $375,800      -0.58%                113

04/07/10       1663 San Silvestro      2/2      2001        $249,900       $225,000      -9.96%                180

04/14/10       1157 Highland Green   3/2     1995         $369,000      $358,000      -2.98%                   5

04/15/10       1164 Kittiwake Dr        3/2     2001         $299,900      $295,000      -1.63 %                141

04/20/10       440 Pinewood Lake     3/2      1997         $339,900       $310,000     -8.79%                   24

04/21/10       445 Pinewood Lake     3/2      1998         $314,500       $297,250     -5.48%                   23

04/22/10       1124 Highland Greens 3/2      1997         $339,000       $317,500     -6.34%                 573

04/29/10       1823 San Trovaso       2/2      1999         $219,900       $271,500     -1.09 %                 41

04/30/10       1890 San Silvestro       2/2     2001         $239,900       $226,000     -5.79%                  32

05/03/10       1243 Tuscany Blvd      3/3      2006         $549,000       $485,000     -11.65%              518

05/14/10       1225 Reserve Dr         3/2      1994         $399,000       $375,000     -6.01 %                 59

Summary of Activity for Pelican Pointe Golf & Country Club

02/15/10-05/15/10      20         $334,952            46               $405,653            9                  $365,922

10/01/09-02/15/10      20         $351,624            55               $432,969            9                  $364,111

07/01/09-09/31/09      11         $377,209            n/a                  n/a               n/a                        n/a

04/01/09-06/30/09      23         $316,839           n/a                  n/a               n/a                        n/a

Venice/Englewood Real Estate Market Update

The first quarter results for the Venice/Englewood Market for 2010 are promising.  We have seen a strong increase in properties going under contract, healthy increase in the number of homes sold each month and a steady decrease in the amount of properties available for sale.  Properties for sale in the Venice/Englewood Market have decreased again for the month of April 2010, down 2.4% from March 2010: 3236 homes for sale to 3157 homes for sale.  Pending sales are up again for the 4th month in a row, up 7.8% from March 2010: 593 properties pending to 639 properties pending in April 2010.  Closed sales decreased for the first time since December 2009, down 8.3%, from 494 properties sold to 453 properties sold during the month of April 2010.  Even though the number of homes available for sale in our area continues to decline, we are still in a Buyer's market. Now is the time to BUY a home in Venice FL; prices have stabilized and more importantly the amount of homes for sale in Venice are decreasing and we are headed towards a normal and healthy market.  Mortgage rates are still at historically low rates.  Our CB Home Loan Department just announced a new 30 year fixed Jumbo loan ($442,500 and up) at a rate of 6%.  The time to buy is right now.