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Unique and Interesting Market Conditions in Seminole Isle

Seminole Isle. It has been an active and interesting market in the Seminole Isle community to say the least! In this last year pricing in Seminole Isle have increased tremendously! We started with a buying frenzy resulting in a booming seller’s market.

In Seminole Isle, 5 units have been sold thru March. 4 town homes only to include 1 corner unit condo.   No 1500 sqft or 1700 sqft units have been sold this year.

Since April, it has become a buyer’s market and sellers are now competing for buyers.  Currently, there are 11 active listing and 3 listing under contract in the Seminole Isle town home/Condo community.

The highest priced unit sold this year in Seminole Isle was $385,000 and the lowest unit sold for $300,000.

FOR MORE INFORMATION AND/OR PICTURES  PLEASE CALL /TEXT ANNE AT  727-410-7777 ANYTIME TO DISCUSS STRATEGIES FOR LISTING YOUR PROPERTY.

E-Mail: AnneSouthBeaches@Gmail.com

 

Below you will find a chart of the recent real estate activity in Seminole Isle

 

Address List $$ Sq Ft Close Date Sold $$
ACTIVE / FOR SALE
1 7070 KEY HAVEN #604 $279,900 1,500
2 7296 MARATHON #404 $280,000 1,500
3 7069 KEY HAVEN #403 $289,000 1,500
4 7040 KEY HAVEN #202 $299,900 1,700
5 7069 KEY HAVEN #202 $319,900 1,700
6 10002 KEY HAVEN #203 $319,900 1,500
7 7069 KEY HAVEN RD #206 $349,000 2,100
8 10002 KEY HAVEN RD #205 $354,000 1,700
9 7069 KEY HAVEN RD #501 $429,000 2,100
10 10002 KEY HAVEN RD #201 $439,900 2,100
11 7040 KEY HAVEN RD #606 $550,000 2,100
PENDING
1 7287 ISLAMORADA CIR $329,900 2,088
2 7252 CONCH BLVD $334,000 2,088
3 10002 KEY HAVEN RD #606 $414,900 2,100
SOLD
1 7164 CONCH BLVD $319,900 2,088 2/24/2017 $315,000
2 7377 CONCH BLVD $319,900 2,088 3/3/2017 $300,000
3 7172 ISLAMORADA CIR $339,000 2,090 3/27/2017 $330,000
4 7193 ISLAMORADA CIR $342,900 2,089 3/27/2017 $335,000
5 7296 MARATHON DR #506 $364,000 2,100 3/27/2017 $358,000

This Information was taken from local MLS.

Seminole Isle market update for the first quarter for 2016

So far 5 condos / town homes have been sold in Seminole Isle in 2016. Inventory is low and prices have been going up in Seminole Isle. Right now (3/24/16) there are only 4 condos for sale in Seminole Isle.  Please give me a call if you have any questions or want to see some of the active condos/ town homes in Seminole Isle. Below is a list of all units sold in 2016

  • 7296 Marathon dr     #604      1500 sf condo    sold for $252,000 on 1/8/16
  • 7069 Key haven rd    # 306      2100 sf condo   sold for $345,000 on 2/12/16
  • 7070 key haven rd    #204       1500 sf condo   sold for $225,000 on 2/12/16
  • 7189 Islamorada cir                  2090sf townhouse sold for $320,000 on 2/19/16
  • 7296 Marathon dr     #402       1700sf condo    sold for $256,500 on 3/18/16
Seminole Isle waterfront condos for sale (112)

Seminole Isle waterfront condos for sale

Information takes from local MLS

Fresh off the press, housing market Seminole Isle

Forecast for the 2016 Florida real estate market.

Below please find an article from FloridaRealtors.org.

Fla. poised to be real estate “hot spot” this year

ORLANDO, Fla. – Jan. 28, 2016 – What will Florida’s real estate markets look like in the coming year? That was the question on the minds of a standing-room-only crowd of about 400 Realtors®at the 2016 Florida Real Estate Trends event held Thursday during Florida Realtors®Mid-Winter Business Meetings, which continue through Jan. 31, 2016.

“Florida is positioned to become one of the hottest spots in the country with rising demand, positive gains in recovery, really good fundamentals and positive momentum,” said Jonathan Smoke, chief economist of realtor.com®. He said 2015 was a good year and 2016 looks to be similar. Smoke discussed the national housing outlook for the coming year, saying, “Home sales have pretty much recovered to their normal levels.”

“Fundamentally, we are experiencing a market with not enough to sell,” he said. “We are forecasting slightly better growth for construction and new home growth, but still not to the usual supply, which is putting pressure on the existing home supply (and existing home prices). On realtor.com, every single month in 2015 had less inventory and inventory was moving more rapidly – and we’re seeing the same in January 2016.”

Nationally, rents are rising faster than prices, Smoke added. He said that means Realtors should tell their clients: “For homebuyers, this is quite literally the year to buy a home – and the same is true for sellers who want to sell and buy another home. This should be our best year since 2006. It is now cheaper to buy a home than rent in 77 percent of counties in the U.S.”

Smoke told Realtors to get ready for an onslaught of would-be homebuyers in the spring through summer months.

The realtor.com forecast for 2016? Existing home prices will appreciate 3 percent; existing home sales will grow 3 percent to 5.4 million; new home sales will grow 16 percent to 580,000; and housing starts will increase 12 percent, he predicted.

Other speakers who shared their 2016 forecast included Dr. Elliot Eisenberg, a nationally known economist and a former senior economist with the National Association of Home Builders (NAHB); and Dr. Brad O’Connor, chief economist for Florida Realtors. Eisenberg discussed the national economic outlook, while O’Connor offered insight on Florida’s real estate markets.

Eisenberg pointed out that the national economy is doing OK – households are repairing their balance sheets, disposable incomes are rising, energy is cheap and people feel wealthier. The dollar is strengthening against all currencies, which hammers imports, he added, but job creation has been very good, unemployment is fine and the labor market is improving.

“Essentially, (the economy) ain’t going to be bad, but it ain’t going to be especially good either,” Eisenberg said. ” If you enjoyed 2015, you’ll enjoy 2016 – if you didn’t, you have a whole year to get to learn to enjoy it. No recession is in the cards: We’re not in a recession and we’re not likely to get one. We’re not going to have great growth, but that’s a long way from, and a lot different than, a recession.”

For 2016 and in the years to come, both Eisenberg and Smoke agreed that Realtors should look to baby boomers and millennials for clientele. They pointed out that boomers are still a huge part of the market as they look to retire, relocate or downsize, but an even bigger wave of millennials eager to become homeowners is the market’s future driving force.

“2015 was a very good year for both home and condo sales,” said O’Connor, who noted that as of December, statewide median prices have increased (year-over-year) for 49 months in a row. “The estimated Florida shadow inventory is slowly but surely disappearing. We’re down to about 200,000 non-listed but potentially in foreclosure homes (the so-called shadow inventory). Negative equity loans are down to below 20 percent.”

And Florida’s real estate sector will continue to experience growth and positive momentum in the coming months, he added.

“We expect home sales to increase 8-10 percent in 2016, while home prices are likely to rise about 5 percent,” O’Connor said.

© 2016 Florida Realtors®

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