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Property Values

Property Values: Up, Up and Away!

It's no secret that Rotonda truly is a “hot spot!”-

Everywhere you look, construction crews are at work laying foundations, putting up block, setting roof trusses in place, paving driveways, and laying sod.

Along a six-mile stretch of Boundary Boulevard from Pinehurst to Pine Valley, 39 new homes, many in the half-million dollar range, are going up in various stages of construction. Also underway are 30 homes along Rotonda Circle in the same subdivisions. Throughout the community, new homes are being started at a rate of about one a day.

In an analysis of data, the average 2004 home price in Rotonda rose 24% over 2003. The number of homes sold rose by 27%, with 59% of sales in the first half of 2004.. The hurricane season did not negatively impact prices. In fact, the average Rotonda home sales price in the second half of the year was more than $ 50.000 higher than the first half average.

The year-to-date price increase in Rotonda lots was an astonishing 142%! The number of lot sales increased by 20% for 2004 compared with the previous year.

Another indicator of continuing strong demand is the average days-on-market, the number of the days from the date the property is listed until a contract for sale is signed. The average number of days on the market for lots in the seven subdivisions was 59.6 in 2004. In Pine Valley, 133 lots were sold in 2004, while 111 were sold in Long Meadow, 107 in Pinehurst and 100 in White Marsh.

So, now is the time to buy those lots who remained, before nobody can afford than any longer. There's a good change, the prices are going up during the coming season in the same way they did in 2004 & 2004.

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