QUARTERLY NUMBER OF CLOSED SALES
In the beachfront condominiums along Gulf Shore Boulevard, there were a total of 97 closed units in
the second quarter of 2013. Bayfront condominium sales are 9% lower than Q2 2012 and beachfront
condominiums are 17% higher than Q2 2012.
QUARTERLY AVERAGE SALES PRICE – CLOSED SALES
Average sale price of closed properties on the beach during the quarter was $1,284,564, a 5% increase from Q2 2012 and a 13% increase from Q2 2009. There were 115 beachfront condominiums for sale on July 1, 2013, which is a 6.2 month supply. The buildings with the highest closing prices were Regent at $6,000,000 on May 1, 2013 and Aria at $4,425,000 on April 29, 2013.
Average sale price of closed properties on the bay during the quarter was $446,345. There were 29 condominiums for sale on the bay on July 1, 2013, which is a 4.1 month supply. The building with the highest closing price was Ardisonne, where a unit closed on May 1, 2013 for $1,325,000.
Average sale price on the beach has increased in each of the past three quarters, and is
currently 13% higher than Q4 2012, and 5% higher than Q2 2012. Prices of bayfront properties
remained stable for the past three quarters, and actually, posted a slight decrease (4%) from
Q2 2012. The John R. Wood Market Research Department will closely monitor this segment
going forward. The current four-month supply, coupled with existing strong demand could
lead to escalating prices on the bay over the coming months.
This report is intended to give the reader a macro view of the beachfront and bayfront markets
on Gulf Shore Boulevard. Prices vary widely among buildings based on age, location and
amenities. Contact Dustin for specific information on property in which you have a personal interest.
“The source of this real property information is the copyrighted and proprietary database compilation of Sunshine MLS, LLC. Copyright 2013 Sunshine MLS, LLC. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently veriﬁed if any person intends to engage in a transaction in reliance upon it.”