Lely Resort’s Busiest Season Since ’05

Lely Resort saw a very busy April as we wrapped up our busiest home sale season since 2005.  Total sales for the year top out, as of May 1, at 86 properties for a total just over $31,000,000.  This is compared to 39 total MLS sales for $17,800,000 in the first five months of 2009.  While these numbers are huge, the big story is the 84 homes pending sale year to date.  If we assume these homes all close, Lely Resort will have a 35% increase in sales volume in just the first 5 months of 2010 versus all of 2009.  It looks like 2010 will be as big as we anticipated.

Overall the market seems on the road to recovery with much of the sales coming in under $300,000 (skewing the average sale value down 20% year over year).  I believe this is attributed to more of a shift in market interest, rather than a shift in home values – but time will tell.  Check out 2010 Closed Sales for Lely Resort at http://www.mylely.com/closedsales2010.  Keep in mind I subtract the developer’s inventory listed in MLS from the totals to get a better feel for the resale market.  The developer at Lely Resort has sold 10 homes as specs listed in MLS this year compared to 8 for the same time period in 2009.