Downtown St Petersburg Condos - Market Report August 1, 2008
August 2nd, 2008 categories: Downtown St Petersburg, Market Updates
There are currently 181 downtown St Petersburg condos listed for sale. This is about average for the year, with monthly inventory ranging from 171 to 187 units. 13 units sold during July but more relevant is the number going to contract during July, which was 6. At the rate of sales during July, that is a 2.5 year supply. The $250,000 - $500,000 range has the most choices, with 28.7% of the units.
The majority of the sold condos were new: 3 sales in 400 Beach and 4 sales at The Sage make up 54% of the sales. In resales, Bayfront Tower had 4 of the sales and Bayboro Tower had 2 of them. Condos going to contract in July had twice as many resales (4) as new sales (2); all of the resale contracts during July were under $250,000; both of the new contract were in The Sage. There were no contracts over $1,000,000 during July 2008.
| Discussion: No Comments »
Plaza on Fifth Market Update
March 16th, 2008 categories: Market Updates
The Plaza on Fifth, or Walker-Whitney Plaza, is located at 226 Fifth Avenue N in downtown St Petersburg. It was completed in 2007 and has 56 units in a 13 story building. It’s “New York style” with up to 6 units per floor. It’s too stark for my taste, but fortunately everyone doesn’t have the same tastes. There is some open space on the top floor that is common area, but there is no pool or fitness center. It also seems that the corridors do not have air conditioning.
Since The Plaza was completed last year, public records show that only 18 of the 56 units have been sold - which means the developer still owns 68% of the units. None of the sold units are showing that they have a homestead filed, so it appears that none of the units are owned occupied as primary residences. Potential purchasers should check with their lender to be sure that the lender will finance units in the building at “standard” interest rates.
Some of the purchased units are available for rent, from $1,500 to $1,950 per month.
5 units are listed in the Multiple Listing service, ranging from $369,000 to $650,000.
| Discussion: No Comments »
400 Beach - rental update
February 29th, 2008 categories: 400 Beach, Market Updates
There are currently five condos for rent at 400 Beach, all on an annual lease, unfurnished. They range in price from $3,500 per month to $5,000 per month. They range in size from 2,450 sq ft to 3,288 sq ft.
| Discussion: No Comments »
