Sand Key Condo Trends 2018

Overview

2018 was another busy year or year for real estate and condos on Sand Key. There were a total of 185 condos sold for an average price of $616,000. The $616,000 price mark is the highest average price in recent history. Due to low inventory, the average days on market was just 133 days. The average sale price was 96% of the list price. Sand Key condo sales represented 41% of all the sales in the Clearwater Beach 33767 zip code in 2018.

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 just over $616,000 in 2018. This is 8% higher than the $573,000 average in 2017. The five-year price increase trend for Sand Key condos is a little over 5% per year.

Sand Key Condo Price Trends 2018

How Long Did It Take To Sell?

Sand Key condos had an average time on market of just 106 days in 2018 or about 3 1/2 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 is 96% which is another indicator of strong demand. 

Sales Price to List Price for Sand Key Condo Sales 2018

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 2018. The top 3 are all beachfront condos right on the shimmering shores of Sand Key. South Beach heads the list with 28 sales followed closely by Ultimar and Dans Island

Rank  Condo Community 2018 Sales Average Sale Price
1  SAND KEY CONDO-SOUTH BEACH 28 $492,954
2  ULTIMAR 25 $797,696
3  DANS ISLAND ON SAND KEY 17 $632,369
4  ISLE OF SAND KEY 11 $383,945
5  CRESCENT BEACH CLUB 10 $680,150
6  GRANDE ON SAND KEY 9 $861,667
7  MARINA DEL REY AT SAND KEY 9 $665,917
8  LIGHTHOUSE TOWERS 9 $562,444
9  HARBORAGE CONDO 9 $389,544
10  HARBOUR THE CONDO 8 $335,334

HIGHEST PRICED CONDO SALES ON SAND KEY IN 2018

Below are the Top 10 highest condo sales on Sand Key reported in the Multiple Listing Service for 2018. Ultimar besides being very popular, also had the highest sales price in 2018.

Rank  Condo Close Price Beds Full Baths
1  ULTIMAR CONDO $1,450,000 3 3
2  MERIDIAN ON SAND KEY $1,390,000 3 3
3  MERIDIAN ON SAND KEY $1,349,000 3 2
4  UTOPIA CONDO $1,275,000 3 2
5  GRANDE ON SAND KEY $1,230,000 3 3
6  UTOPIA CONDO $1,225,000 3 2
7  BELLA ROSA CONDO $1,181,000 3 3
8  MOORINGS OF SAND KEY THE $1,175,000 4 3
9  ULTIMAR CONDO $1,150,000 3 3
10  UTOPIA CONDO $1,110,000 3 2
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