Since our last post there have been 17 new listings on the water in Merritt Island and beachside. These are priced from $188,900 to $859,900. The most interesting home is the one at $859,900. This home has been on the market since 2009 and the owners are now on their 3rd realtor. It has been priced from $750,000 all the way to $1,400,000. There is a home with a pool on the property plus what is called an historical cottage. The home sits on .71 acre on the river but all other homes around it are on normal sized lots. It just might be the price not the realtor that needs to change.
During this same time frame there have been 19 waterfront homes sold. These homes range in price from $139,000 to $565,000.
This is why the waterfront home inventory in this area is shrinking which is a good thing for the seller. It is getting to be more and more difficult to find the right home for our buyers.
If you have been contemplating selling your home, this could be a very good time to sell. Call your realtor for a comparative market analysis.
Jim Bagwell
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