No Comments

Gulf Shore Boulevard Market Report – First Quarter 2013

QUARTERLY NUMBER OF CLOSED SALES
In the beachfront and bayfront condominiums along Gulf Shore Boulevard, there are a total of 71 closed units in the first quarter of 2013. Bayfront condominium sales are 29% lower than Q1 2012 and beachfront condominiums are 11% higher than Q1 2012.

QUARTERLY AVERAGE SALES PRICE ‐ CLOSED SALES

Average sale price of closed properties on the beach during the quarter was $1,204,438, a 16% increase from Q1 2012. There are 163 beachfront condominiums for sale on April 1, 2013, which is a 9.5 month supply. The buildings with the highest closing prices were Enclave at Park Shore with three closings greater than $3,000,000 (the highest at $5,650,000 on March 22, 2013),Regent($5,300,000 on January 28, 2013) and Provence $2,350,000 on March 21, 2013).

Average sale price of closed properties on the bay during the quarter was $456,555, a 9%
increase from Q1 2012. There are 47 condominiums for sale on the bay on April 1, 2013, which is a seven month supply. The Tropics had the most units available for sale (five units) with an average list price of $807,900.

SUMMARY
Overall sales along Gulf Shore Boulevard are down when compared to Q1 2011, and
approximately the same as Q1 2012. The number of available properties for sale on the
beachfront is down 25%, and bayfront inventory decreased 20% from Q1 2012.

“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.”