Middle Beach Condo Trends
Middle Beach Condo Trends 2018 Overview
As with Clearwater Beach, 2018 was another banner year for condo sales on the Middle Beaches of Pinellas with 586 condos sold. This is about 7% higher than the 550 sales in 2017, and a whopping 30% higher than the historical average. The average sale price was $490,000 which is up 6% from 2017. Condos and townhomes represented 80% of the property sales in the Middle Beach area in 2018 with single-family homes at only about 20% of the market.
SALES BY AREA
The Pinellas Middle Beach condo sales were pretty evenly spread among the four major beach areas. The three Redington Beaches represented almost a third of the sales. Indian Shores was not far behind with 27% of the condo sales. Indian Rocks Beach and Madeira Beach both had 21% of the sales.
MIDDLE BEACH CONDO SALES TRENDS BY YEAR
The average sale price for condos from Indian Rocks to Madeira in 2018 was up 6% over the 2017 average of $463,000. The beachfront condos had the highest average sale price at $517,000 with Intracoastal condos averaging about 25% less expensive at $392,000.
HOW LONG DID IT TAKE TO SELL?
The average time on the market for a Middle Beach condo in 2018 was a very low 88 days or a little under 3 months. This is a 6 year low, with the next lowest point 100 days in 2017. This is indicative of the sustained high demand for beach area condos in our market.
SALES PRICE VS. LIST PRICE
With continued strong demand and low inventory, the sale price in 2018 was just over 97% of the list price. "Lowball" offers are not being accepted in today's market and, in fact, may jeopardize your chances of being taken seriously later.
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TOP SELLING MIDDLE BEACH CONDO COMMUNITIES
The top three selling condo communities for the middle beaches in 2018 were the Madeira Beach Yacht Club, Redington Towers, and the Bay Shores Yacht & Tennis Club in Indian Shores.
|Rank||Condo Community||2018 Sales||Average Price|
|1||MADEIRA BEACH YACHT CLUB CONDO||22||$240,286|
|2||REDINGTON TOWERS I & II||19||$377,526|
|3||BAY SHORES YACHT & TENNIS CLUB||15||$353,527|
|4||OCEAN SANDS ONE & TWO CONDOS||14||$520,814|
|5||TIDES BEACH CLUB CONDO||14||$790,957|
|6||MADEIRA BAY RESORT II CONDO||12||$268,492|
|7||BAREFOOT BEACH RESORT OF INDIAN SHORES||10||$252,890|
|8||CURLEW LANDINGS SOUTH||10||$331,700|