Gulf Shore Boulevard Q1 2019 Market Report

Bring Your Highest Expectationsâ„¢ FIRST QUARTER MARKET REVIEW FOR 2019 Gulf Shore Boulevard

Bring Your Highest Expectations™

Quarterly Number of Closed Sales  With 9 units sold, the number of closings for bayfront condos was down 40% from the same period last year when 15 units were sold. Beachfront condos sales were up by one sale, from 55 sales to 56.  During the first quarter of 2019, bayfront buildings at Admiralty Pointe and Harbour Cove each had two sales. Beachfront sales included five at Vistas and four sales at Imperial Club.

Quarterly Average Sales Price  The average price for bayfront condos in the first quarter of 2019 was $713,000, up 19% from the $599,160 that posted for the first quarter of 2018.  The average sale price for beachfront condos in the first quarter of 2019 was $1,501,527, up 6.6% from the $1,409,248 that posted for the first quarter of 2018.

Average Price Per Square Foot  Average price psf for bayfront condos increased 12.7%, moving to $436 in the first quarter of 2019 from $387 a year ago.  Average price psf for beachfront condos increased 9.8%, moving to $694 in the first quarter of 2019 from $632 a year ago.

Listing Inventory  At the end of the first quarter there were 41 bayfront condos available for sale, up 7.9% compared to a year ago when 38 condos were available. Month of supply was 8.63 months, down 1.6% compared to a year ago when 8.77 months was posted.  At the end of the first quarter there were 141 beachfront condos available for sale, up 17.5% compared to a year ago when 120 condos were available. Months of supply was 9.72 months, up 19.4% compared to a year ago when 8.14 months was posted.

Buildings on the beach and bay vary considerably in age, condition and amenities, and the averages referenced in this report provide a broad view of market trends in this segment of the waterfront market. When contemplating a sale or purchase in this or any other neighborhood, buyers and sellers are advised to seek the services of a John R. Wood Properties sales professional who can provide the most current and accurate market data.

John R. Wood Properties, Bring Your Highest Expectations.

“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS, Copyright 2019, and the proprietary compilation of that data by John R. Wood Properties, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data.”

Bring Your Highest Expectations™

QUARTERLY NUMBER OF CLOSED SALES

Beachfront Condominiums 100

75

50

25

0

2011

2012

2013

2014

2015

2016

2017

2018

2019

Bayfront Condominiums 35 30 25 20 15 10 5 0

2011 2012 2013 2014 2015 2016 2017 2018 2019 Q1

Q2

Q3

Q4

John R. Wood Properties, Bring Your Highest Expectations.

“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS, Copyright 2019, and the proprietary compilation of that data by John R. Wood Properties, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data.”

Bring Your Highest Expectations™

QUARTERLY AVERAGE SALES PRICE - CLOSED SALES

Beachfront Condominiums

$2,000,000 $1,750,000 $1,500,000 $1,250,000 $1,000,000 $750,000 $500,000 $250,000 $0

$800,000

2011

2012

2013

2014

2015

2016

2017

2018

2019

Bayfront Condominiums

$700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0

2011 2012 2013 2014 2015 2016 2017 2018 2019 Q1

Q2

Q3

Q4

John R. Wood Properties, Bring Your Highest Expectations.

“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS, Copyright 2019, and the proprietary compilation of that data by John R. Wood Properties, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data.”

Bring Your Highest Expectations™

QUARTERLY AVERAGE PRICE PER SQUARE FOOT - CLOSED SALES

Beachfront Condominiums 2011 2012 2013 2014 2015 2016 2017 2018 2019 $0

$100

$200

$300

$400

$500

$600

$700

$800

Bayfront Condominiums 2011 2012 2013 2014 2015 2016 2017 2018 2019

$0

$100

$200

$300

$400

$500

John R. Wood Properties, Bring Your Highest Expectations.

“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS, Copyright 2019, and the proprietary compilation of that data by John R. Wood Properties, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data.”