Island Estates Condo Sales March 2014

Island Estates Condo Sales March 2014

Island Estates condo sales in March of 2014 had an average sale price of $345,000 with 12 condo sales in Island Estates based on data from the Multiple Listing Service.  Year to date Island Estates condo sales prices are up about 8% over the $260,000 average for 2013. The highest Island Estates condo sale was for $853,750 for a 4 bedroom, 4 bath 3,600 unit in the Pools at Windward Passage Island Estates.

See all the condo sales on Island Estates if you are thinking of selling or all the Island Estates condos for sale if you are buying.

Island Estates Condos Are Selling Fast

The average days on market for an Island Estates condo is 114 days which is down almost 30% from the 157 day average in 2013 and 160 days in 2012 due to a lower inventory of condos for sale.

Bank Foreclosures and Short Sales are Up on Island Estates

Distressed sales (short sales and bank foreclosures) were 11% of Island Estates condo sales in 2012 and then fell to 7% of sales in 2013 following the trend in Pinellas County. Year to date distressed property sales in Island Estates are up to 13% and represented 16% of sales in March. This upward trend isn't something we expect to continue, but we'll be tracking it each month and let you know.

Current Island Estates Condo Inventory is Good For Sellers and Buyers

There were 49 active listings at the end of March 2014 and about 9 condo sales per month over the last 6 months. From this we calculate that there is about a 6 months inventory of condos on Island Estates. This is in line with the 6 months inventory that is generally considered to be a “balanced market”. This makes the current Island Estates condo market a “balanced market” between buyers and sellers. What this means to sellers is that they need great marketing and exposure of their properties if they want to sell. What it means to buyers is there is a lot to choose from and it’s not too late to get a good deal if you want to live in Island Estates Florida.

Call Us if We Can Help!

We hope you found this March summary of Island Estates condo sales informative and useful. If we can help you in any way in buying or selling a condo or home here in Island Estates, Sand Key, Clearwater Beach area, please give us a call at 800-964-9841 or use the Contact Form to get in touch with us. Also, we think you will find our website a great source of information on Island Estates, Sand Key, and Cleawwater Beach real estate.

The Rich and Cindy Team