Island Estates Condo Trends 2017
2017 was a banner year for condo sales on Island Estates. There were 129 units sold which is the second highest number in the past 10 years. Only in 2015, with 135 sales, were there more condo sales. The average sale price of $350,000, was also the highest it has been in recent history and was 13% higher than in 2016. Average days on market was 138 days, or a relatively low 4 and 1/2 months.
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Island Estates Condo Sales Trends By Year
As shown in the graph below, the average condo sale in 2017 on Island Estates went for $350,000. This represents an upward trend of almost 8% percent per year since 2012.
What Price Points Are Selling The Most?
Almost half of the condos sold on Island Estates in 2017 ranged in price between $250,000 and $500,000. About a quarter of the sales were under $250,000, and only about 20% were over half a million dollars.
How Is the Inventory of Condos for Sale?
The inventory level of Island Estates condos is at about 6 months. This is considered a relatively even market between buyers and sellers. In the lower price ranges, however, buyer demand is high, and inventory levels are at a relatively low 4 months.
How Long Did It Take To Sell?
With high demand and relatively low inventory, days on Market was only 138 days or about four and a half months.
Sales Price Vs. List Price
The sales price in 2017 averaged about 95% of the list price. As in the other Pinellas coastal areas, low-ball offers were not being accepted by sellers who had many other options to sell their property.
What This Means To Buyers
The best condos on Island Estates are selling quickly, and there isn’t a surplus of inventory. Serious buyers should have their proof of funds, or bank pre-approval ready when they plan to submit an offer. It also helps to have an experienced local agent to find the best properties and negotiate on your behalf.
Top 10 Selling Condo Communities
|Rank||Condo Community||2017 Sales||Average Sales Price|
|1||ISLAND WALK CONDO||13||$309,146|
|2||51 ISLAND WAY CONDO||10||$190,210|
|4||DOLPHIN COVE CLEARWATER||8||$196,250|
|5||610 ISLAND WAY CONDO||6||$316,650|
|5||736 ISLAND WAY CONDO||6||$358,833|
|5||ISLAND POINT 1 CONDO||6||$266,250|
|5||RESIDENCES AT WINDWARD PASSAGE||6||$740,167|
|5||VILLAGE ON ISLAND ESTATES||6||$363,000|
Highest Priced Condo Sales In Island Estates In 2017
Of the top 10 highest price sales in 2007, four were in the Windward Passage communities of The Residence at Windward Passage, and the Pools at Windward Passage. Below is a full list of the top 10 sales on Island Estates in 2017 based on the Multiple Listing Service.
|Rank||Condo Community||Sale Price||Bedrooms||Sq Ft|
|1||RESIDENCES AT WINDWARD PASSAGE CONDO||$1,065,000||3||3,256|
|2||RESIDENCES AT WINDWARD PASSAGE CONDO||$1,050,000||3||3,051|
|3||POOLS AT WINDWARD PASSAGE THE||$1,000,000||4||3,600|
|4||POOLS AT WINDWARD PASSAGE THE||$900,000||4||3,300|
|5||SUNWATCH ON ISLAND||$840,000||3||2,718|
|6||650 ISLAND WAY CONDO||$735,000||4||2,650|
|7||MAJESTIC POINT CONDO||$665,000||3||1,805|
|8||SUNWATCH ON ISLAND||$640,000||3||2,142|
|9||RESIDENCES AT WINDWARD PASSAGE CONDO||$637,500||3||2,040|
|10||MAJESTIC POINT CONDO||$630,000||3||1,805|
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