Is Pine Island, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Pine Island was a Seller's Market.
Key Takeaway
Pine Island is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Pine Island, FL
How much do homes in Pine Island, FL cost?
Median Sold Price
$478,000
$370/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Pine Island have sold for 4.4% less than they did a year ago.
Summary: The median home sold price in Pine Island was $478,000 in May 2024, down 4.4% from last year, and the median price per square foot was $370.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $194K | $299K | +54.1% |
| 2 Bedrooms | $425K | $402.5K | -5.3% |
| 3 Bedrooms | $580K | $600K | +3.4% |
| 4 Bedrooms | $491.5K | $612.5K | +24.6% |
| 5+ Bedrooms | $587.2K | $1.4M | +146.9% |
Summary: Pine Island housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 54.1%, 2 bedroom homes decreased by 5.3%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 24.6%, and 5+ bedroom homes increased by 146.9%.
Median Sold Price Compared To Nearby Cities
| Saint James City | $520K | $565K | +8.7% |
| Cape Coral | $409.6K | $396.9K | -3.1% |
| Pine Island | $500K | $478K | -4.4% |
| Bokeelia | $452.5K | $412K | -9.0% |
| Boca Grande | $4.0M | $3.1M | -20.9% |
Housing Supply in Pine Island, FL
How many homes are available in Pine Island, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 225 | 234 | +4.0% |
Summary: The Pine Island real estate market had 234 homes for sale in May 2024, a 4.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 3 | -40.0% |
| 2 Bedrooms | 94 | 101 | +7.4% |
| 3 Bedrooms | 101 | 107 | +5.9% |
| 4 Bedrooms | 22 | 19 | -13.6% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Pine Island housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 40%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 5.9%, 4 bedroom homes decreased by 13.6%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 21 | -4.5% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pine Island, you may be able to get a good deal. 76.2% of homes here sold below asking price last month.
Summary: A total of 21 homes were sold or pending in Pine Island in May 2024, down by 4.5% month-over-month. Of the 21 sold homes, 76% were sold under asking, 24% were sold at asking, and 0% were sold over asking.
Days on Market for Pine Island, FL
How long does it take to sell a home in Pine Island, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 49 Days | 86 Days | +73.5% |
Summary: Homes in Pine Island had an average of 86 days on market in May 2024, up by 73.5% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Pine Island are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 21 homes were sold in Pine Island; 48% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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