October 18th, 2010 categories: Placido Bayou
Notes from Rob:
When we moved back to St Petersburg in 2004 as my Air Force career was coming to a close, we looked for the right school for Matthew. Mom recommended Shorecrest, a private school that has been teaching children for almost 90 years. After six years I can easily say we made the right choice. After that it was a matter of deciding where to live. Two blocks from the school is the gated community of Placido Bayou. We instantly fell in love with the neighborhood because of the tree-lined streets, intermixed with ponds and lakes, and a family feel that made us feel both at home and welcome. Placido Bayou has just over 2,400 residents, living in condos, townhouses, and mostly single family homes. It is broken up into almost 20 neighborhood associations and each one has a slightly different feel to it. A large majority of the homes were built in the late 70s and throughout the 80s.
As most of us know, by 2004 the housing boom was in full bloom. That year 31 homes sold in Placido with prices ranging from $261,000 to $800,000. Though if you wanted a home with at least 2,000 square feet you would have been paying at least $400,000. The boom continued in 2005 as 34 homes sold in the neighborhood. The sale prices were between $300,000 and $975,000. That 2,000 square foot home you were looking at now started around $430,000. In 2006, things slowed a little, with only 12 sales, but the prices ranged from $364,000 to $960,000 and that same 2,000 square foot home now started above $550,000. Things continued to go up in 2007 as the neighborhood had 23 sales and the highest sold for over a million dollars for the first time. Our 2,000 square foot house again cost us at least $550,000. Finally the times caught up with the neighborhood in 2008. Only 12 sales for the year, with the prices ranging from $305,000 to $815,000. That 2,000 square foot home could be bought for $360,000 (only 1 and that was the best price since 2003). The year 2009 did not get any better. They had 13 sales, ranging from $235,000 to $680,000, and our 2,000 square house could be bought for $310,000. Only three homes sold for over $500,000.
So far this year, 12 homes have sold in Placido Bayou, ranging from $260,000 to $640,000. The 2,000 square foot home is going for a minimum of $350,000 and if you want something over 2,500 square feet you are going to be paying at least $500,000. There are 23 single family homes for sale right now ranging from $169,900 (small 1,251 square foot house) to $895,000 (3,855 sq ft). So for those of you who have watched Placido Bayou for a while and said you could not afford the neighborhood, now might be your opportunity to take advantage of the current market. If you want more details, or to see any of the available homes, give the team a call at 727-898-2582 and we will help you in any way we can.