Bayfront Tower Market Update 2013 1st Quarter
April 17th, 2013 categories: Bayfront Tower, Downtown St Petersburg Condos, Market Updates
Bayfront Tower condominiums
Sales at Bayfront Tower have been brisker in the first quarter of 2013 than in the last several years (the last year with the current rate of sales was 2004). There have been 7 sales in 2013, ranging from $320,000 to $721,000. Price per square foot ranged from $261 to $328, with an average of $282/sq ft, an increase of 42% over last year. Size of units that sold this year ranged from 1,146 sq ft for a 1 bedroom unit to 2,200 sq ft for a 3 bedroom unit.
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Broadwater waterfront homes Market Update 2-1-2013
February 12th, 2013 categories: Broadwater, Market Updates
Broadwater Waterfront Home Sold
Broadwater waterfront home sales in St Petersburg Florida were off to a good start in January, with 3 waterfront homes sold:
3 bedroom 2 bath pool home 1,693 sq ft sold for $415,000
3 bedroom 2 bath pool home 2,200 sq ft sold for $440,000
3 bedroom 3 bath pool home 2,587 sq ft sold for $625,000 (built in 1980, vaulted ceilings, fireplace, remodeled)
There are 4 waterfront homes actively on the market in Broadwater, ranging from $389,900 to $650,000.
As for Broadwater nonwaterfront homes, there was one sale in January, a short sale for $292,500 with 4 bedrooms 2 baths a pool and 1,984 sq ft. There is one active listing, a 2 bedroom 2 bath pool home with 1,498 sq ft, offered for $225,000.
Call or email Sharon to represent you in the sale or purchase of a waterfront home in Broadwater – she’s been selling there for 20+ years and living there for over 18 years. Sharon knows Broadwater!
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Signature Place Market Update for 2012
January 18th, 2013 categories: Market Updates, Signature Place
Signature Place
2012 was a good year for sales in Signature Place in downtown St Petersburg. There were 28 sales, an increase of 75% over 2011. The average sale price was $580,382, an increase of 41% over the average 2011 sale price. Looking at other criteria, the lowest sale price in 2012 was $320,000, an increase of 60% over the previous year. The high sale price in 2012 was $1,050,000, an increase of 33% over the previous year. The average price per square foot was $353 in 2012, an increase of 30% over 2011. The units sold in 2012 ranged from 1,007 sq ft to 4,177 sq ft for an average of 1,638 sq ft. 64% of the sales were under 1,500 sq ft.
Looking at historical figures, the average Signature Place sale price in 2009 when the building was completed and first began sales, was $474,154 – so 2012 showed an increase of 22% above that. The average Signature Place sale price in 2010 (the year of the big auction) was $371,641 – so 2012 showed an increase of 56% compared to 2010.
Signature Place is one of the newest condominiums in downtown St Petersburg and is a very contemporary building with many amenities.
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2012 Market Update: Bayfront Tower condo in downtown St Petersburg, Florida
January 15th, 2013 categories: Bayfront Tower, Downtown St Petersburg Condos, Market Updates
Bayfront Tower condominiums
In 2012 there were 24 condominiums in Bayfront Tower condfo that sold, ranging from $220,000 to $750,000. The average price was $448,104. Prices per square foot ranged from $114 to $319, with an average of 198. In 2011 there were 17 sales, ranging from $165,000 to $750,000 with an average price of $356,182. Prices per square foot ranged from $123 to $243. So the average price increased by 26% from 2011 to 2012. Of the 22 sales, there was one short sale and one foreclosure sale. for just over 8% of total sales. A variety of floor plans sold during the year, ranging from 1,146 sq ft to 3,336 sq ft. Of 13 basic floor plans, 12 of them sold last year. Two double units sold as well. The most popular units were the 02 on the water side and the 11 on the city side, each with 4 sales during 2012.
Check BAYFRONT TOWER CONDOS FOR SALE here.
Call or email The Simms Team at ALVA International, Inc. for additional information or to see any of these condos.
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Vinoy Place Market Statistics 2012
January 13th, 2013 categories: Downtown St Petersburg Condos, Market Updates, Vinoy Place
Vinoy Place condos
During 2012 Vinoy Place had 12 condominium sales, ranging from $765,000 to $1,576,500, with an average sale of $1,133,042. Units ranged from 2,600 sq ft to 4,457 sq ft. The price per square foot ranged from $300 to $372. Four of the sales were townhomes and the rest were units in the four towers. The average price in 2012 was 30% higher than in 2011, which had 8 sales.
Check VINOY PLACE CONDOS FOR SALE here.
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Statistical update for 400 Beach condominium in downtown St Petersburg as of August 2012
September 28th, 2012 categories: 400 Beach, Market Updates
400 Beach condos
August is a good time to get a statistical update for 400 Beach and other downtown St Petersburg condos. Each year in August the Pinellas County Property Appraiser’s Office updates property records, reflecting changes in the “just market value” of a property and showing homestead exemptions for the current year. It’s interesting to analyze those statistics.
There are 93 residential properties at 400 Beach. 53 of them have a homestead exemption on their property, which is 57% of the total. This doesn’t mean that the remaining 43% are rentals since some owners claim their primary residence in another state or country.
The annual change in “just market value” for a unit is up 14.7% but the range is from +3.9% to +21.6%, so the average really doesn’t tell us a lot, especially at 400 Beach. Keep in mind that although these figures are just recently available, it’s really “old news” as this reflects values as of January 1, 2012. Please contact us for information concerning this year’s sales and trends.
Here are the averages by type of unit:
- Unit 01 (2,203 sf): +21.3%
- Unit 02 (2,397 sf): +18.1%
- Unit 03 (2,873 – 3,072 sf): +13.1%
- Unit 04 (3,086 – 3,306 sq ft): +11.9%
- Unit 05 (3,976 sf): +8.3%
- Unit 06 (4,263 sq ft): +5.6%
- City homes (1,470 sf – 2,414 sf) +3.9% to +21.6% (no relationship to size of the unit)
- Penthouse (6,860 sf): +19.5%
According to the Pinellas County Property Appraiser the difference in Just Market Values in the same condo building are based on different sizes, views and locations.
Notices of Proposed Property Tax (TRIM notices) are mailed out by the property appraiser each August. Property owners have 25 days from the mailing of this notice to file a petition with the Value Adjustment Board, so it’s possible some of these values will be adjusted.
If you would like more details on these statistics, contact Sharon Simms of The Simms Team at ALVA International, Inc real estate or contact the Pinellas County Property Appraiser. We’re right around the corner at 238 Beach Drive NE.
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Statistical update for Cloister of Beach Drive condominium in downtown St Petersburg as of August 2012
September 28th, 2012 categories: Cloisters, Market Updates
Statistical update for Cloister of Beach Drive condominium in downtown St Petersburg as of August 2012:
The Cloisters
Each year in August the Pinellas County Property Appraiser’s Office sends out TRIM notices of the value of properties as of January 1, 2012, which is the basis for 2012 property taxes. It’s interesting to analyze the changes in “just market value” for the various condos. The average “just market value” at Cloister of Beach Drive condominium increased 3.1%. Individual units ranged from -9.1% to +6.9%.
The four units that dropped in value are the A and B units on the second and third floor, which have restricted watere views and decreased from 2.9% to 9.1% in value. Exclusing these units:
The A units, on the south side with 1,675 sq ft, increased an average of 5.5%
The B units, facing directly east with 2,600 sq ft, increased an average of 0.6%
The C units, facing north with 2,065 sq ft, increased an average of 5.6%
The two penthouse units, with 5,100 sq ft each, increased an average of 2.75%
As we’re seeing with most of the downtown condos, the larger units are not increasing in Just Market Value as much as the smaller units. Nationally the trend is toward smaller homes. Builders are responding to this and building smaller homes than a few years ago.
Keep in mind that these values are now “old” since they don’t reflect any sales in 2012. Contact The Simms Team to learn more about how values have changed this year.
69% of the condos at Cloister of Beach Drive have a homestead exemption. None of the condos have foreclosure liens. One condo currently under contract is a short sale.
If you’d like more details on these statistics, contact Sharon Simmsof The Simms Team at ALVA International, Inc real estate or contact the Pinellas County Property Appraiser. The Simms Team is nearby at 238 Beach Drive NE, across from the Museum of Fine Arts.
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Statistical update for Signature Place in downtown St Petersburg
September 12th, 2012 categories: Market Updates, Signature Place
Signature Place
Statistical update for Signature Place condominium in downtown St Petersburg as of 8-19-12:
Each year in August the Pinellas County Property Appraiser’s Office sends out TRIM notices of the value of properties as of January 1, 2012, which is the basis for 2012 property taxes. The Just Market Value of Signature Place condos went up an average of 16.8% with a range for individual units from 0.2% to 31.7%. The average increase in the tower was 16.6%, in the east lofts 11.4% and in the west lofts 22.7% There was more of a relationship based on size that on unit stacks:
Less than 1,000 sq ft +25.8%
1,000 – 1,500 sq ft +16.8%
1,500 – 2,000 sq ft +14.5%
2,000-2,600 sq ft +9.9%
4,000-5,000 sq ft +0.2%
Over 5,000 sq ft +7.5%
With only 2 units over 4,000 sq ft, the statistics on those are informational rather than statistically significant. In general, the smaller downtown St Pete condo units increased at a higher rate than larger units, so Signature Place follows in that trend.
Keep in mind that these values are now “old” since they don’t reflect any sales in 2012. Contact The Simms Team to learn more about how values have changed this year.
43% of the assessed condos at Signature Place have a Homestead Exemption. According to public records, none of the condos have liens filed against them.
TRIM notices have been mailed out and owners have 25 days from the mailing to file a petition with the Value Adjustment Board. The exact deadline is printed on the bottom right of the TRIM notice. Only the value is at issue now as the tax/millage rates have not been finalized.
If you’d like more details on these statistics, contact The Simms Team at ALVA International, Inc real estate or contact the Pinellas County Property Appraiser. The Simms Team is nearby at 238 Beach Drive NE, across from the Museum of Fine Arts.
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Declining Inventory of homes for sale in St Petersburg Florida
September 7th, 2012 categories: Downtown St Petersburg Condos, Market Updates
We’ve been talking about the declining real estate inventory of homes for sale in many of the local St Petersburg neighborhoods. Here are some statistics as of September 1, 2012:
Single family homes for sale in St Petersburg: 863 homes for sale, 1,036 homes under contract – so 20% more homes are under contract than available.
Downtown St Petersburg condos: 25 condos for sale, 30 condos under contract. Again, 20% more under contract than available.
This doesn’t apply to all neighborhoods, of course. In Broadwater, for example, there are 10 waterfront homes for sale compared to 2 waterfront homes under contract.
We at The Simms Team didn’t have a summer slowdown – all three of us have been busy selling homes and condos all summer.
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Statistical update for Ovation condominium in downtown St Petersburg as of 8-19-12
August 31st, 2012 categories: Market Updates, Ovation
Entrance to Ovation luxury condos
Statistical update for Ovation condominium in downtown St Petersburg as of 8-19-12:
Each year in August the Pinellas County Property Appraiser’s Office sends out TRIM notices of the value of properties as of January 1, 2012, which is the basis for 2012 property taxes. Several units weren’t yet assessed then in Ovation, so the statistics are not for the entire building. The average “just market value” at Ovation condominium decreased 4.9% – or excluding the penthouses, decreased 4.3% Individual units ranged from -18.8% for a penthouse to +4.5% for a city home. Following the national trend toward smaller homes, the two units under 2,500 sq ft were the only one to increase Just Market Value. On most of the floors, there was no Just Market Value difference between the 02 south units and the 01 north units. On the 14th and 15th floors, the north units had a higher value, on the 23rd and 24th floors, the south units had a higher value.
Keep in mind that these values are now “old” since they don’t reflect any sales in 2012. Contact The Simms Team to learn more about how values have changed this year.
49% of the assessed condos at Ovation are homesteaded. None of the condos have foreclosure liens. Six units have been resold, three of them because the owners bought larger units in the building.
TRIM notices have been mailed out and owners have 25 days from the mailing to file a petition with the Value Adjustment Board. The exact deadline is printed on the bottom right of the TRIM notice. Only the value is at issue now as the tax/millage rates have not been finalized.
If you’d like more details on these statistics, contact Sharon Simmsof The Simms Team at ALVA International, Inc real estate or contact the Pinellas County Property Appraiser. The Simms Team is nearby at 238 Beach Drive NE, across from the Museum of Fine Arts.
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