Seminole Isle Real Estate Market Report

Seminole Isle Real Estate Market Report 

The Seminole Isle Real Estate Market Report for the last 8 month is interesting to say the least.
let me start by giving you a overview of the Pinellas county real estate market in general. Till mid 2012 the market was flooded with regular listings, Short Sales and Foreclosures.

We had what we call a "buyer's market" People made low ball offers left and right and negotiated sales prices down down down and each buyer found a great deal. Overall we had way more listings than buyers. Well the Real estate market  has changed dramatically sometime in autumn last year.

In pretty much all of Pinellas county we now have a "seller's market" yes, you heard right, the sellers are in control again for the first time after the Real Estate crash. Pinellas county is at an all time low in inventory and all the buyers that have been waiting for the prices to hit rock bottom are now searching for properties.

At the moment we have more buyers than properties and even thou they are still trying to low ball, they are getting nowhere with it. there are over 60% cash buyers in Pinellas county at the moment and they are driving the prices up right now. These people have been waiting for years to see the prices bottom out and when they realized late last year that it was happening, they made offers left and right and outbid each other just to get the last steal available.

The number of  Short Sales and Foreclosures in our area has gone down dramatically and only a few new distressed property listings have come on the market in the last 8 month. Regular sellers are sitting  and waiting for the prices to go up before they put their property up for sale.
The national association of Realtors and the leading economist in this country had predicted a 3 to 4% price increase for 2013. In the first two month of this year they have already adjusted the number to 5 to 6% and right now they are talking 10%(and it is only May)

This real estate market report is also true for Seminole Isle. Over the last 5 years or so we had an inventory of 15 to 20 listings at all time, over the last 8 month we had somewhere between 1 and 5.

If a new listing in Seminole Isle is priced right, you will get and offer within 3 or 4 weeks. If it is priced to low you will get an offer within  1 week or so. If it is overpriced it will sit on the market for month and month.
Right now there are 5 active listings in Seminole Isle and the average time on the market for these units is 164 days. All these units are way overpriced !

When I look at the 5 units that have sold within the last 8 month and the 3 units that are under contract we are looking at an average days on the market of 27.

Last year the average sold price per square foot in Seminole Isle was $109. This year I think we will end up with way more.  Please keep in mind that nobody has a crystal ball but I truly believe we will be somewhere around $ 135 per square foot by the end of 2013.
This would be way higher than the leading economist of the country and the national association of realtors predicted as an average increase.

Well the condos and townhomes in Seminole Isle are not average, they are beautiful, spacious and in a great location. With the right Realtor and aggressive marketing and advertising the prices in Seminole Isle will go up and up.

Ok this was your Seminole Isle Real Estate Market Report for May 2013
As always, call or e mail us if you need more information or want to get the value of your specific property.

Buying a condo in Seminole Isle

Buying a condo in Seminole Isle used to be easy. For the last 5 years we had about 20 give or take active listings in Seminole Isle at all times. Some condos for sale, some town homes for sale.

Well that has drastically changed. Over the last 8 month or so we have between ZERO and 5 listings in Seminole Isle. Buyer are in waiting lines to get their hands on one of the beautiful condos or town homes in Seminole Isle.
If the asking price is half way fair, we see multiple offers on Seminole Isle properties within a week.

Seminole Isle condo size, square footage of unit

Seminole Isle condo size, square footage of units. Seminole Isle, gated waterfront condo complex has 3 different size floor plan for their condos.

1500 sf, 1700 sf, and 2100 sf. The corner units are all 2100 square feet and the unit numbers end in 01 and 06. The unit numbers ending in 03 and 04 are the 1500 square foot units and 02 and 05 are the 1700 square foot condos in Seminole Isle.

 

Each building has 5 living floors above parking with 6 units per floor, which is a total of 30 units per building.  So far Seminole Isle has 5 condo buildings facing west and one facing east. 

There are some great deals in Seminole Isle right now. Prices for condos and town homes have dropped by 30% even up to 50% Please send us an e mail if you need floor plans or a site plan for Seminole Isle.

I have written a few post about Seminole Isle. Here is one of them.

Update on waterfront sales in Seminole Isle

I just send this e mail to my seller at Seminole Isle.

Hi ………..

How are you?

I don’t have any good or bad news to report on your condo sale at Seminole Isle but I thought I send you an e mail anyway.

We have had a lot of showings on your condo but no bite yet. The other two 2100 square foot units are also still on the market.

The feedback we get is

I love the unit

Love the layout

Love the association

Beautiful condo

Fantastic views

And on and on it goes but a lot of people are just looking right now and not ready to buy anything but keep in mind, the more showings the better of a chance to get an offer soon.

There are only 5 units for sale in all of Seminole Isle, that is the lowest I have ever seen and also very low inventory compared to other associations in our area.

We usually see 5% up to 10% of all units for sale in the Pinellas county associations but Seminole Isle has just a little over 2% for sale.

Starting at $175,000 for a 1500 square foot unit and $349,000 for a 2100 square foot unit. Your unit is the only 2100 square foot unit prices under $300,000

All townhomes are either sold or under contract.

We keep advertising and showing you unit and I will get back to you as soon as I have more exciting news.

Hope you are doing good

Have a great weekend

Anne

Seminole Isle condos and townhomes in Seminole Florida are located right across the street from Lake Seminole Park.

The community was built in 2005 and has 90 townhomes with roughly 2000 square feet each and 3 different floor plans too chose from and 180 condos split in 6 different building with 5 of them facing west and one building facing east.

Like the townhomes, there are 3 different floor plans for the Seminole Isle condos, 1500, 1700 and 2100 square feet.

The condos as well as the townhomes are very nice, high end construction with open floor plans,  high ceilings and lots of architectural details. Each unit has a balcony, inside laundry and a cover parking space.

The amenities in Seminole Isle condos and town homes are awesome,

• beautiful swimming pool surrounded by tropical landscaping,
• tennis courts,
• a clubhouse,
• a gym,
• storage areas for kayaks,
• walking trail,
• private beach boat dock
• fishing dock .... what else an you possibly want?  

This gated community is absolutely beautiful and best of all, prices start around $160,000.

For the last few years we had a lot of inventory in Seminole Isle, maybe 20 listings in average. Well that has changed and for the last 6 month or so we only have an average of maybe 5 listing.

This and the sales prices is a very good indication that Seminole Isle condos and town homes are on their way out of the real estate crisis.

There is a 1700 sf condo, 2 bedroom 2 bath and bonus room for $205,000 on the fifth floor that came on the market 3 days ago and I already know two Realtors that are submitting offers today.

Check out our blog about Seminole Isle for more information on Seminole Isle condos and town houses or go look at more pictures.http://pinterest.com/annerealtor/seminole-isle-condos-and-townhomes/

Pictures from Seminole Isle

Click to see a bunch of pictures from Seminole Isle

Seminole Isle | what about the beach?

Seminole Isle | what about the beach?        If you want to live very close to the Tampabay Beaches but do not want to pay Barrier Island prices, the Seminole Isle condos and townhousesmight just be perfect for you.

Seminole Isle beach

Seminole Isle has the perfect location, 6 minutes to Madeira beach, about 10 minutes to John’s Pass, 12 minutes to Treasure Island, 20 minutes to St. Pete Beach, less than half an hour to our most famous beaches of Fort De Soto, about 8 minutes to Redington beach and Indian Rocks beach and 30 minutes to Clearwater.                                                                                                           
So by the time you get in the car and argue with your husband (or wife) about what to do for lunch, you are pretty much already looking for a parking spot on the beach.

Treasure island beach

Just to put it in perspective, if you bought a similar property on Tierra Verde (like Seminole it doesn’t have its own beach) this property would cost you at least twice as much and it would take you 4 minutes to Fort de Soto, 8 to St. Pete Beach, 20 to Treasure island 25 to John’s pass 30 to Madeira and 35 to Redington and 40 to Indian Rocks and an hour to Clearwater.

As you can see, Seminole Isle has about the same proximity to the beaches than Tierra Verde has. Like I said in earlier post, the value you get for your money when you buy a condo or townhome in Seminole Isle is incredible.

In Seminole Isle you live close to the beaches but pay much less for your property. That said, it is no wonder why so many educated buyers and interested in the beautiful gated community of Seminole Isle. Take a look at the map or go to Google earth and you can see for yourself. Call me at 727 410 7777  to find out more about. Seminole Isle | what about the beach?