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Wednesday, November 17, 2010

Gasparilla Island and Boca Grande News for November 17, 2010

Just The Facts
Taking into account the sales from the beginning of the year through November 1, 2010, I am pleased to announce that Gasparilla Properties continues to be the leader in sales on Gasparilla Island. Our team has completed 33 sales, with 47 transaction sides. Our nearest competitor has completed 22 transactions. Total sales volume for the island is up nearly 46% from a year ago.

New Listings on Gasparilla Island
Boca Grande Club Dunes Chalet 105, 1/1, $450,000
Boca Grande Club Village Home #5, 3/3 on the tennis court, $599,000
Boca Grande Club 60A, 2/2 Tennis Villa, $695,000
423 Green Teal, Boca Bay harbor side 3/2, $995,000
184 Carrick Bend Lane, 3/3.5 on the lake, $1,160,000
Island House #11, furnished 3/3, $1,500,000 (great price for beach front living)
Island House #7, unique & expanded 3/3, $2,200,000
1190 11th Street East, 6/4 Boater's Paradise, $2,200,000
200 Banyan Street, 100x155 beachfront lot, $2,975,000

Price Changes on Gasparilla Island
Boca Grande Club Marina Village #1 (was $287,000) now $274,000 (-$13,000)
16000 Gulf Shores Drive vacant lot (was $295,000) now $269,000 (-$26,000)
9901 NE Gasparilla Pass vacant lot (was $295,000) now $269,000 (-$26,000)
Boca Grande Club Dunes Chalet 205 (was $375,000) now $349,000 (-$26,000)
13180 Joseffa Ct vacant lot (was $549,000) now $449,000 (-$100,000)
160 Blackwall Ct (was $1,125,000) now $995,000 (-$130,000)
221 Waterways (was $1,950,000) now $1,795,000 (-$155,000)
1604 Treasure Lane (was $3,950,000) now $3,595,000 (-$355,000)

A typical market on Boca Grande sees each sales price exceed the one before it, and anticipated activity should have us back to this more typical scenario within the next 12 to 18 months. Sales data is already showing a big up-tic in the number of properties selling. Some of the best-priced and best-valued properties have already sold. Could it be the listing prices? Could it be the great interest rates, even on jumbo loans? Sellers are flexible. Walk-in traffic has increased. Investors are calling us. Don't make me say "I told you so" when the one you want sells before you make the offer.

Sales Pending on Gasparilla Island
859-1B Harborshore Drive
Boca Grande Club, Village Home 38

Closings on Gasparilla Island
Lighthouse #15 listed at $795,000 sold 11/15 (just 43 days on the market) for $790,000
920 Palm Avenue listed at $1,175,000 sold 11/15 for $860,000

Market Snap Shot
183 Active Listings (including all real estate listed: boat slips, vacant lots, and residential)
159 of those Active are residential listings (condos, townhouses, villas, homes)
59 Sold Listings (average sold price within 88% to 90% of listed price)

Kelly Reark, ABR, TRC, e-PRO
Licensed REALTOR in the State of Florida
Gasparilla Properties, Inc., Boca Grande

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