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Bayfront Tower Market Update 2013 1st Quarter

Bayfront Tower Condominiums

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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2012 Market Update: Bayfront Tower condo in downtown St Petersburg, Florida

Bayfront Tower

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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Statistical Update: Bayfront Tower condo in downtown St Petersburg, Florida

Bayfront Tower Condo in downtown St Petersburg, Florida

Bayfront Tower Condo

Statistical update for Bayfront Tower 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. It’s interesting to analyze the changes in “just market value” for the various condos.  The average “just market value” at Bayfront Tower Condo decreased 4.4%.  That average doesn’t mean a lot, though, since different floor plans ranged from +0.4% to -14.4%. Here’s the average change in Just Market Value by plan:

  • 01    -1.2%
  • 02    -7.4%
  • 03     -1.9%
  • 04    -5.7%
  • 05    -6.4%
  • 06   -5.7%
  • 07    -0.9%
  • 08    -3.5%
  • 09    +0.4%
  • 10    -4.6%
  • 11    -4.4%
  • 12    -2.9%
  • 14    -4.2%
  • double units    -14.4%

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.

Nationally the trend is toward smaller homes. Builders are responding to this and building smaller homes than a few years ago. The changes at Bayfront Tower reflect that as well. The smaller units did not decrease in value as much as the larger units. The just market value of the double units had twice the decline of any of the other units.

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 Simms of 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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Bayfront Tower Market Update 12-1-11

Here’s the Bayfront Tower Market Update for 12-1-11:

As of December 1st, 2 units were listed for sale, from $439,900 to $669,500.

Check BAYFRONT TOWER CONDOS FOR SALE here.

So far in 2011  there have been 15 sales, ranging from $165,000 to $550,700. During 2010 there were 10 sales, from $200,000 to $735,000.

As of December 1st, there were no units available for rent at Bayfront Tower. Two condos rented during November, ranging from $2,000 to $3,000 per month. So far this year there have been 8 condos rented at Bayfront, ranging from $1,000 to $3,000/month.

Call or email The Simms Team at ALVA International, Inc. for additional information or to see any of these condos.

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