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Tuesday, July 5, 2011

Boca Grande and Gasparilla Island News for July 5, 2011

The heat is rising, and the tropical summer showers have begun. A common thought is that no one sells property during the summer, and I am here to attest to how false that is. Properties are continuing to go under contract, and I have been showing property frequently. Many of our clients with children or grandchildren wait to travel in the summer. Southern businesses often experience a slow-down in activity during the summer, making it the perfect time for execs to take vacations to look for property. Sellers that were on the market but did not sell during high season are now weighing their costs of carrying their property through the summer, and some very good deals can be made during this time.

Price Changes on Gasparilla Island
798 Beach View (was $664,050) now $614,900 (-$49,150)
290 Gulf Blvd, Lighthouse #18 (was $895,000) now $825,000 (-$70,000)
Sea Oats #255-C (was $950,000) now $895,000 (-$55,000)
500 Gulf Blvd, Boca Grande Shores #12 (was $975,000) now $895,000 (-$80,000) *short sale
9891 NE Gasparilla Pass Blvd (was $1,325,000) now $1,175,000 (-$150,000)
16210 N Island Court (was $1,295,000) now $1,200,000 (-$95,000)
500 Gulf Blvd, Boca Grande Shores #10 (was $1,690,000) now $1,450,000 (-$240,000)
375 Night Heron (was $1,699,000) now $1,695,000 (-$4,000)
130 Palm Avenue (was $1,895,000) now $1,795,000 (-$100,000)
2280 East Railroad Avenue (was $2,995,000) now $2,500,000 (-$495,000)

Sales Pending on Gasparilla Island
Boca Grande Club Beach Manor 214 (listed $1,600,000)
596 Gulf Boulevard (listed $4,500,000)
156 Blackwall Court (listed $950,000)
2225 22nd Street West (listed $695,000)
4805 Shore Lane (listed $4,500,000)
380 Gulf Boulevard, Seagrape 3 (listed $845,000)
301 3rd Street West (listed $3,995,000)
739-2 South Harbor Drive (listed $1,150,000)
16140 Sunset Pines Circle (listed $2,975,000)
16150 Sunset Pines Circle (listed $2,750,000)
Boca Grande Club, Marina Village 06 (listed $225,000)
Boca Grande Club 33A (listed $699,000)

12 Pending Sales, totaling $24,884,000

68 Sold Properties on Gasparilla Island since January 1, 2011, totaling $76,635,000

Market Snap Shot
*MLS data only*
165 Active Listings (including all real estate listed: boat slips, vacant lots, commercial and residential)
131 of those Active are residential listings on MLS (condos, townhouses, villas, homes)
28 Vacant Lots are available
10 Sales are Pending
63 Sold Listings (MLS data to date in 2011 - excludes private sales)

Gasparilla Properties continues to be the leader in island sales, representing more than 50% of the total volume sold. Call me to learn more about why we continue to be the most recognized office on Gasparilla Island.

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

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