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Thursday, May 5, 2011

Boca Grande and Gasparilla Island News for Cinco de Mayo, 2011

Since January, with a total of 35 sales and an additional 23 pending sales, we have nearly met the annual total sales figure from last year (66). Sellers have been getting, on average, 92% of their asking price. Looking at where homes are listed, there are only a dozen 3-bedroom homes available between the range of $799,000 and $1 million. There are just three 3-bedroom properties below that range, and a few others that are 2-bedroom cottages. In the range of $1 million to $2 million, there less than 40 homes listed. These represent just 2% of residences on the entire island, and is our price bracket into which most listings fall.

Looking at the higher price brackets, the options are slimming down there as well. In the $4 million dollar bracket, you have only 7 homes to choose from. At $5 million, your choice is between just two properties. Only 3 listings on the island are above $6 million.

We have had an outstanding amount of activity so far this year. Please contact me soon so that I can provide you with information you will need to pursue a property in Boca Grande. Already, a few of the new listings I highlighted in my last newsletter as great values have sold. The window of opportunity on some of these listings is very narrow! To be sure you don't miss anything, sign up for my newsletter today by sending me an e-mail.

New Listings on Gasparilla Island
798 Beachview Drive, 3/2 Kentia, rare bank-owned listing, $699,000
307 Gasparilla Street, 3/2 furnished pool home, $819,000
Silver King 303, 3/2 waterfront condo with a boat slip, $849,000

Commercial Opportunity: 301 Park Avenue
This is a great opportunity to own income-producing property on Gasparilla Island. A bank and a contractor rent the two lower level office spaces, and the upstairs is an attractive in-town studio/loft. Offered at $1,350,000.

Price Changes on Gasparilla Island
340 Palm Avenue (was $630,000) now $799,000 (+$169,000)*
758 Beachview Drive (was $849,000) now $825,000 (-24,000)
370 Gasparilla Street (was $1,295,000) now $1,225,000 (-$70,000)
1636 Jean LaFitte Drive (was $3,900,000) now $3,300,000 (-$600,000)

*This listing had a price increase due to the restoration in progress.

Sales Pending on Gasparilla Island
Boca Grande Club, Marina Manor 37 (listed $1,050,000)
808 South Harbor Drive (listed $865,000) *Only on the market 5 DAYS*
2610 Shore Lane (listed $3,400,000)
370 East Railroad Avenue #4 (listed $485,000)
460 Bradley Avenue (listed $890,000)
480 Gulf Boulevard, Turtleback 6 (listed $639,000)
320 Gulf Boulevard, Beach Club 1C (listed $445,000)
253 Waterways lot (listed $1,290,000)
Boca Grande Club, Marina Village #13 (listed $249,000)
Boca Grande Club 44A (listed $725,000)
811-2 Harborshore (listed $1,475,000)
Boca Grande Club 23B (listed $525,000)
739-2 South Harbor Drive (listed $1,150,000)
859-1 Harborshore (listed $1,175,000)
27 Grouper Hole (listed $1,995,000)
Boca Grande Club, Dunes Chalet 107 (listed $385,000)
859-2 Harborshore Drive (listed $1,650,000)
9850 NW Gasparilla Pass (listed $2,975,000)
1645 Jose Gaspar Drive (listed $3,975,000)
Boca Grande Club 73A (listed $695,000)
16140 Sunset Pines Circle (listed $2,975,000)

21 Pending Sales, totaling $29,013,900

Sold Properties on Gasparilla Island since January 1, 2011
Sea Oats 251 C (listed $735,000) sold 1/7 for $610,000
570 Gulf Boulevard, Island House #1 (listed $1,188,000) sold 1/31 for $1,075,000
181 Palm Avenue lot (listed $649,000) sold 1/31 for $500,000
221 Damficare (listed $1,100,000) sold 2/3 for $1,100,000
Boca Grande Club, Dunes Chalet 205 (listed $349,000) sold 2/14 for $314,000
290 Gulf Boulevard, Lighthouse #11 (listed $750,000) sold 2/17 for $675,000
391 Lee Avenue (listed $735,000) sold 2/17 for $675,000
361 Lee Avenue (listed $795,000) sold 2/24 for $735,000
371 Gulf Boulevard (listed $795,000) sold 2/25 for $550,000
4592 Shore Lane (listed $795,000) sold 2/25 for $750,000
871 8th Street E (listed $499,000) sold 2/28 for $386,000
174 Gulf Boulevard (listed $2,495,000) sold 3/3 for $1,850,000
570 Gulf Boulevard, Island House #7 (listed $2,200,000) sold 3/3 for $2,050,000
740 East Railroad Avenue (listed $1,275,000) sold 3/1 for $1,175,000
Boca Grande Club, Marina Village #17 (listed $499,000) sold 3/1 for $425,000
Boca Grande Club, Beach Manor 112 (listed $1,650,000) sold 3/4 for $1,550,000
Boca Grande Club, Village Home 19 (listed $390,000) sold 3/11 for $350,000
427 Green Teal Drive (listed $2,000,000) sold 3/18 for $2,000,000
341 Gilchrist (listed $6,000,000) sold 3/30 for $6,000,000
Silver King 123 (listed $795,000) sold 3/31 for $685,000
Boca Grande Club, Dunes Chalet 102 (listed $335,000) sold 4/1 for $283,000
320 Gulf Boulevard, Beach Club 5F (listed $630,000) *Only on the market 10 DAYS* sold 4/4 for $605,000
760 Beach View Drive (listed $849,000) sold 4/8 for $781,000
570 Gulf Boulevard, Island House 11 (listed $1,500,000) sold 4/11 for $1,305,000
Boca Grande Club 59B (listed $715,000) sold 4/14 for $645,000
423 Green Teal (listed $995,000) sold 4/19 for $940,000
487 Coopers Hawk Drive lot (listed $1,250,000) sold 4/19 for $1,150,000
146 Carrick Bend Lane (listed $1,295,000) sold 4/20 for $1,265,000
Boca Grande Club 30A (listed $649,000) sold 4/20 for $525,000
134 Half Clove Court (listed $1,395,000) sold 4/22 for $1,320,000
Boca Grande North #75 (listed $354,000) sold 4/25 for $340,000
Boca Grande Club, Beach Manor 312 (listed $1,625,000) sold 4/28 for $1,500,000
1604 Treasure Lane (listed $3,350,000) sold 4/28 for $3,200,000
164 Carrick Bend Lane (listed $1,195,000) sold 5/2 for $1,025,000
Boca Grande Club, Village Home 3 (listed $525,000) *Only on the market 19 DAYS* sold 5/2 for $499,000
843-2 Harborshore Drive (listed $1,495,000) sold 5/3 for $1,475,000
861 8th Street East (listed $1,575,000) sold 5/4 for $1,400,000

37 Closed Transactions, totaling $41,713,000

Market Snap Shot
*MLS data only*
193 Active Listings (including all real estate listed: boat slips, vacant lots, and residential)
156 of those Active are residential listings on MLS (condos, townhouses, villas, homes)
28 Vacant Lots are available
20 Sales are Pending
34 Sold Listings (to date in 2011)

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

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