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Thursday, June 9, 2011

Boca Grande and Gasparilla Island News for June 9, 2011

Market Recap: The total for 2011 so far is up to 59 sold properties, with an additional 17 pending. That is 76 listings less than what we started with at the beginning of the year, for an average of one sale every couple of days. So, would you like to continue to sit back and read about the properties selling, or have the 24 months of continual improvement in our marketplace been enough proof that Boca Grande property is a great investment that will remain resilient compared to the national real estate drama?

I should remind you that this is an island. It is less than a mile wide and seven miles long. The opportunity to build or buy here is finite, especially at the current values. Constantly I hear people saying "If I had only bought property here 20 years ago!" Those same people are buying now - and in another 10 years, the ones who don't will be saying the same thing!

With only 3 new listings to report, our inventory continues to shrink. We are down to 182 listings for Gasparilla Island, which includes boat slips, condos, vacant land, commercial, and residential property - in ALL price points. The dwindling selection for properties in your price bracket means that sellers are gaining leverage and eventually this will drive prices up again. The bottom line is, the longer you wait, the more it may cost you.

New Listings on Gasparilla Island
343 Gulf Boulevard, 100 x 163 vacant lot across from Gulf, $395,000
Boca Grande Club Beach Chalet 201, 1/1 Gulf front, second floor end unit, $420,000
Boca Grande Club 73A, stunning Gulf front 2/2, $695,000

Private Opportunity: Confidentially available and beautifully-appointed top floor Harborshore condominium. This Harborshore offers some of the grandest views on the island from a higher vantage point than most island properties. One of only 3 Harborshore condos available.
Offered at $1,595,000. Please call me for more information.

Price Changes on Gasparilla Island
746 Beach View (was $790,000) now $749,000 (-$41,000)
782 South Bayou (was $875,000) now $825,000 (-$50,000)
981 9th Street East (was $3,900,000) now $3,750,000 (-$150,000)

Sales Pending on Gasparilla Island
For a detailed list of pending listings, contact me.
There are 17 Pending Sales, totaling $33,671,000.

Sold Properties on Gasparilla Island since January 1, 2011
I am happy to send you the complete list of sold properties.
There have been 59 Closed Transactions, totaling $64,806,500.

Market Snap Shot
*MLS data only*
182 Active Listings (including all real estate listed: boat slips, vacant lots, commercial and residential)
146 of those Active are residential listings on MLS (condos, townhouses, villas, homes)
30 Vacant Lots are available

I would like to send you details on Boca Grande properties to suit your lifestyle, so please contact me.
Kelly Reark, ABR, TRC, e-PRO
Licensed REALTOR in the State of Florida
Gasparilla Properties, Inc., Boca Grandewww.waterfrontkelly.com

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