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Broadwater waterfront homes – Market Update 10-15-10

Broadwater,  Boca Ciega Bay and the Gulf of Mexico

Broadwater, Boca Ciega Bay and the Gulf of Mexico

Broadwater waterfront homes – Market Update October 15, 2010
St Petersburg, Florida

Currently there are 10 Broadwater waterfront homes available to buy, ranging from $449,900 to $1,200,000. There are two Broadwater waterfront homes under contract – both are short sales and are listed at $397,900 and $399,000.

So far in 2010 there have been 11 closed sales of waterfront homes in Broadwater, ranging from $275,000 to $750,900. The median sale price was $360,000 and the average was $425,173.  Four of these were short sales and none were bank owned properties.

Looking back to the boom years, in 2006 prices ranged from $475,000 to $1,347,500. In 2007 prices ranged from $545,000 to $980,000.  This year only 2 sales out of 11 were over $500,000. The average drop in value has been from 35% to 40%.

Broadwater is as desirable a waterfront neighborhood as it has ever been – convenient location on the mainland side of Boca Ciega Bay, 10 minutes to downtown, 10 minutes to the Gulf Beaches, and 20-30 minutes from the Tampa International Airport. No fixed bridges to the Gulf, quiet neighborhood, great neighbors.

Contact  Sharon Simms to buy a waterfront home in Broadwater while prices are still low.

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