DOWNTOWN
CONSTRUCTION
If someone still wants a brand
new condo, ONE is down to their
last six units. All have a west
view and are priced between
$769,000 on the 26th floor, up to
$879,000 for
the 38th floor.
The two floor
plans
avail-
able are either
1,402 or 1,431
sq ft. They are
still on track
to close in the
fourth quarter
ONE
of this year.
Last newsletter, I mentioned
the Bezu project at the corner of
1st Street and 4th Avenue North.
After some problems with the city
and getting approval, they have
been slowly working behind the
scenes to modify their plans to get
something workable. I believe we
will hear something about it in the
next month.
Of the many townhouse proj-
ects going on, Liv233’s last unit
is under contract and was listed
at $1,200,000. Regent Lane is
moving along on 4th Ave N, as is
Lux Fifth Avenue and both are
on schedule to finish in 2018 as
planned.
The Vela project on 8th Street
South is still pre-selling, with a
starting price of $347,000, but still
no construction has begun on the
site. There are also brand new
townhomes being built by Green
Street Homes. Skye333 will be
See Construction, page 3
MARKET REPORT
Apr 2018
Palms with only 1 sale. Included,
STATE OF THE MARKET
Inventory is down, way down. to round things out, is McNulty
There are a third fewer condos on Lofts.
Average sale price for the
the market than last year at the
end of the first quarter - 39 vs 60. first quarter is rather level, from
$1,037,237 in 2017 to $1,036,678
That is about a 2 month supply.
Nonetheless, the number of re- in 2018. List to sale price has de-
creased from 96% to 95%, and
sale condos sold in the
days on market have
first quarter has been
increased from 46 to
consistent: 27 units.
72. Average price per
Surprisingly,
number
heated square foot has
of days on the market
increased from $476 to
has increased. The sale
Cash
Sales
$518.
price to list price has
It’s interesting to
Q1 2018
decreased from 97%
note that in Signature
to 95%. Average days
Place, sales volume
on the market has in-
has tripled: first quarter last year
creased from 57 to 71.
In the first quarter of 2017, had 3 sales and first quarter
prices ranged from $105,900 to this year has 9 sales. The aver-
$2,915,000 with an average of age price rose from $635,000 to
$760,191. Price per heated square $681,625. Sales volume at Vinoy
foot ranged from $172 to $680, Place has doubled, from 2 sales
with an average of $393. In the to 4 sales, and the average price
first quarter of 2018, prices ranged has increased from $1,687,500 to
from $90,000 to $4,000,000, with $2,391,250 (which includes the
an average of $638,825. Price penthouse sale for $4,000,000).
per heated square foot ranged
from $175 to $746, with an aver- STATE OF TOWNHOMES
age of $384. There were no dis-
There have not been enough
tress sales during either period,
resale townhomes to make any
which is good news.
valid trend remarks. In the first
quarter of 2017, there was 1 re-
sale and in the first quarter of
STATE OF “THE DOZEN”
This group is intended to be 2018 there have been 2 resales.
those condo buildings with aver-
age prices above $500,000. Bliss
- Sharon Shares The Stats
and Salvador are excluded, since
*in Sharon’s view of “downtown,”
both of these were new construc-
from 5th Ave N to 5th Ave S, from
tion last year and not appropri-
4th
St to Tampa Bay and includes
ate comparisons. So is Spanish
68%
both sides of the boundary streets.
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The SIMMS Team | Coastal Properties Group | Christie’s International Real Estate
238 Beach Drive NE | St. Petersburg, FL 33701 | www.DowntownStPeteCondos.com