Sand Key Condo Trends for YTD Sept 2016
There have been 122 sales of Sand Key condos so far this year at an average price of $564,000. Prices for Sand Key condos are higher than at any time since the boom in 2007. If you are looking at one of the Sand Key condos for sale you are probably interested in local real estate trends, so please read on.
Please give us a call at 727-513-8075 if you need help finding that special condo, or use our Contact Us Form.
Sales Trends by Year
Prices for Sand Key condos dropped dramatically after the real estate crash in 2007 to 2008. We have seen a continued rise in number of sales and the average price of Sand Key condos since that time as shown in the graph below. 2015 was a record for number of condo sales with an amazing 198 sales that year as shown in the green line below.
Sand Key Condo Sales Trends by Year
How Long Did They Take to Sell?
The average days on market, or how long it takes a property to sell, was 138 days for the Sand Key area YTD Sept 2016. Time on market for Sand Key is almost identical to the 139 days for the broader Clearwater Beach area market. Average time on market has been falling consistently as buyer demand remains strong. Days on market so far this year is about half what it was back in 2011.
Average Days on Market YTD Sept 2016
Top Ten Best Selling Condo Communities in Sand Key
The top ten best selling condo communities accounted for almost three quarters of all Sand Key condo sales in YTD Sept 2016. As shown in the table below, the beachfront South Beach condo, Ultimar, Sand Key Club, and Dans Island have had the most sales in YTD Sept 2016.
|Rank||Condo Community||Sales YTD Sept 2016|
|3||CLEARWATER SAND KEY CLUB||9|
|4||DANS ISLAND ON SAND KEY CONDO||9|
|5||HARBOUR LIGHT TOWERS CONDO||8|
|6||CRESCENT BEACH CLUB CONDO||7|
|7||GRANDE ON SAND KEY CONDO||6|
|8||LIGHTHOUSE TOWERS CONDO||6|
|10||MARINA DEL REY AT SAND KEY||5|
Based on data from the Multiple Listing Service, the highest condo sale this year was a 5,000 plus sq ft condo at the Grand on Sand Key. This 3 bedroom 3 bath beachfront condo sold for $2.8 million. It was an amazing penthouse unit with panoramic views of the Gulf of Mexico and the Intracoastal Waterway. Three of the top 10 highest sales were in the Ultimar beachfront community.
|Rank||Condominium||Sq Ft||Bedrooms||Full Baths||Sale Price|
|1||GRANDE ON SAND KEY CONDO||5,150||3||3||$2,800,000|
|4||BELLA ROSA CONDO||2,910||4||3||$1,250,000|
|5||DANS ISLAND ON SAND KEY||3,532||4||4||$1,225,000|
|7||GRANDE ON SAND KEY CONDO||2,521||3||3||$1,160,000|
|8||BELLA ROSA CONDO||2,198||3||3||$1,125,000|
|10||GRANDE ON SAND KEY CONDO||2,521||3||3||$1,100,000|
What This Means to Sellers and Buyers
If you are looking to sell your Sand Key Condo, the market is stronger than it has been in years. There is still competition in the higher end properties so it is important that you consider the following as you evaluate your options for selling your Sand Key condo or home:
- Great Exposure – You need great exposure of your property to the most potential buyers possible. Just putting it into the Multiple Listing Service is not enough. It needs to be exposed on a wide variety of websites, Youtube, Social Media, custom blogs, and classified ads, and other distribution points so it is seen by the largest possible number of potential buyers. Great pictures and video are critical as these are things buyers value the most.
- Proper Pricing – The goal is to get the most money for your property. Properly pricing a home in the beginning while its exposure is the highest is critical to ensuring that you get the best possible price. An appraisal or thorough Competitive Market Assessment is critical to pricing the home properly from the start.
- Proper Preparation — Having the home properly prepared goes a long way toward making a great first impression. This is important for buyers viewing your home, and it is also really important for the photos and videos that draw them to your property. An experienced agent that understands what buyers are looking for can give you a fresh new perspective and guide you in cost effective ways to improve the appearance and value of your home.
We hope you found this Sand Key real estate trends summary for 2016 informative and useful.
Please give the Rich and Cindy Team a call at 727-513-8075 if you would like a free, no-cost evaluation of your Sand Key condo’s value in today’s market, or use our Contact Us Form.
Rich & Cindy