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Sand Key Condo Trends 2017

Overview

2017 was a busy year or year for real estate and condos on Sand Key. There were a total of 172 condos sold for an average price of $569,000. The $569,000 mark is the highest average price in recent history. Due to low inventory, the average days on market was just 139 days. The average sale price was a historically high 97% of the list price. Sand Key condo sales represented 38% of all the sales in the Clearwater Beach 33767 zip code in 2017.

Sand Key Condo Sales Trends By Year

As shown in the graph below, the average sale price for condos on Sand Key has risen to almost $569,000 in 2017. This is on par with the $562,000 average in 2016 but almost 10% higher than 2015 price of $522,000 just two years ago.

Sand Key Condos Price Trends

How Long Did It Take To Sell?

Sand Key condos had an average time on market of just 139 days in 2017 or just a little under five months. As you can see in the graph below this is much lower than it was just a few years ago, indicating high demand. 

Average Days on Market for Sand Key Condos

Sales Price Versus List Price

With strong demand and relatively low inventory, the sales price to list price ratio has pushed up to 97% which is one of the highest ratios in recent history. 

Sales Price vs List Price for Sand Key Condos

What This Means To Buyers

There is currently a low inventory level and continued high demand for beachfront and waterfront condos in the Pinellas Gulf Coast areas. Those wanting to buy a condo on Sand Key or Clearwater Beach will need to move quickly once they find the right property. In this competitive market environment, lowball offers are not being considered by sellers who are aware of the high demand for waterfront condos. When you are ready to buy, it is important to have proof of funds or loan pre-approval when making an offer. With a scarcity of condo options, it is really beneficial to have an experienced local real estate expert representing your interests. 

Top 10 Selling Sand Key Condo Communities

Below are the Top 10 selling Sand Key condo communities for 2017. The top 3 are all beachfront condos right on the shimmering shores of Sand Key. South Beach heads the list with 24 sales followed closely by Ultimar and The Grande

Rank

Condo Community

2017 Sales

Average Sales Price

1

SAND KEY CONDO-SOUTH BEACH

24

$434,475

2

ULTIMAR CONDO

21

$851,595

3

GRANDE ON SAND KEY CONDO

17

$1,023,071

4

ISLE OF SAND KEY 1 CONDO

14

$375,536

5

CRESCENT BEACH CLUB CONDO

13

$612,681

6

SAND KEY CONDO-BAYSIDE

12

$336,800

7

HARBOUR LIGHT TOWERS CONDO

10

$400,667

8

LANDMARK TOWERS

10

$348,650

9

HARBORAGE CONDO

8

$365,250

10

LIGHTHOUSE TOWERS CONDO

8

$489,000

HIGHEST PRICED CONDO SALES ON SAND KEY IN 2017

Below are the Top 10 highest condo sales on Sand Key reported in the Multiple Listing Service for 2017. The Grande and Ultimar besides being very popular also had some of the highest sales in 2017.

Rank

Condo

Bedrooms

Baths

Sq Ft

Sale Price

1

Grande On Sand Key Condo

4

5

5,042

$2,900,000

2

Ultimar Condo

3

3

4,480

$2,200,000

3

Ultimar Three Condo

4

3

4,455

$1,699,500

4

Ultimar Condo

3

3

2,896

$1,400,000

5

Grande On Sand Key Condo

3

3

2,521

$1,337,500

6

Grande On Sand Key Condo

3

3

2,521

$1,325,000

7

Grande On Sand Key Condo

3

3

2,521

$1,262,500

8

Meridian On Sand Key Condo

3

3

2,743

$1,250,000

9

Grande On Sand Key Condo

3

3

2,521

$1,200,000

10

Ultimar Condo

3

2

2,464

$1,100,000

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