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Market Update for Downtown St Petersburg condos through June 2012

Downtown St Petersburg Florida from the waterfront

Vibrant downtown St Petersburg

 

Market Update for downtown St Petersburg condos through June 2012:

Of over 2,000 condominium units in downtown St Petersburg, as on July 1st, only 23 are currently listed for sale in the My Florida Regional MLS – slightly over 1%. Since 22 condos went to contract during June 2012, this is approximately a one month supply!

The 23 actively listed condos for sale in downtown St Pete range from $59,900 – $3 Million, with an average price of $941,374.  These have been on the market for 2 to 308 days. 2 of these are bank owned condos and there are no actively listed short sales.

22 downtown St Pete condos went to contract during June, ranging from $46,500 to $1,890,000 with an average listed price of $392,772.  4 of these were short sales and 2 were bank owned properties, for a total of 27% of those going to contract being distress sales.

16 downtown St Petersburg condos sold (closed) during June 2012, ranging in price from $79,900 to $1,050,000 with an average sale price of $538,369.  None of these June sales were distress sales.

It’s a hot market in downtown St Pete with prices rising due to high demand. For buyer representation or seller representation, talk to The Simms Team at ALVA International – the office with the red awning on Beach Drive.

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