Here is the real estate report for property sold, specifically residential and condo sales, on Amelia Island, Florida for the week of 7-6-09 to 7-13-09.
We are always hearing about the real estate market everywhere except in our own backyards. I thought we would take a look at the real estate activity for the week of 7-6-09 to 7-13-09. These stats are only for the Island, in addition to closed sales for the period I have included the number of properties that are under contract.
There were six (6) closings for the time period. Prices ranged between $141,000 and $335,000. During the same time period there were nine properties that are under contract.
On the island as of 7-13-09, there are 734 properties currently on the market for sale in the residential and condominium category. Our market is still very sluggish to say the least. We still have a way to go before we will begin to see an upswing in the overall local market. Prices are still falling on the Island but for most buyers the prices have not touched their buying nerves yet. Another major problem sellers and Realtors are experiencing is the tight credit imposed by the banking industry. It takes money to buy a house, but then it takes money to buy anything. Without it, there is no economy.