RE: Dolphin Cay Real Estate Update – Year Ending 12/31/16 – Courtesy of Deborah Eagan, Realtor
Happy New Year to all our friends in Dolphin Cay and beyond. We had a very successful sales year in Dolphin Cay. There were a total of 29 condominiums sold in Dolphin Cay during 2016, only one less than the 30 sold in 2015. You may recall that for the 12 months ending in September 2016 we were behind the prior year by 5 units. However, a flurry of activity during the fourth quarter of 2016 resulted in a total of eight units being sold. The unit sales ended the year almost even with 2015. As a result, inventory of available condominiums for sale remains low. Buyer inquiries about Dolphin Cay remain consistent and it is a great time to sell if you are thinking about doing so in the near future.
The average sales price by building in Dolphin Cay continued to increase in all buildings except Curacao where the units sold in 2015 were on higher floors with unobstructed views. We frequently discuss the price drivers being upgraded features and open views. You can see that the uninhibited water views in Antigua, Fernandina and Guadeloupe are reflected in their average price per square foot in the chart below.
While one fewer unit was sold during 2016, the dollar sales were 13% higher than 2015. This resulted from 7 larger (2,500+ sq. ft.) units sold compared to only 3 during 2015. Interesting is the fact that the aggregate of the average $/sq. ft. for these larger units was lower than the $274.74 rolling 12-month average per square foot for Dolphin Cay condominiums overall. Even with the larger homes, prices varied considerably based on condition and location of the unit.
The 12-month Rolling Average Trend Chart pretty much continues along the path it has been on for the past several years. The middle black line represents the rolling average of all condominium units sold topping out at $275 / sq. ft for 2016. The green line represents transactions in which I was involved. In 2016 my average sales price was $299 / sq. ft. The red line represents transactions where I am not either the listing or buying agent. The average price for the 2016 red line was $257 / sq. ft. The trend lines show that I am selling at an average of $42 / sq. ft. higher on a consistent basis.
Additional analysis and information on other communities along the Pinellas Bayway and Tierra Verde can be found on my website at www.EaganLuxury.com. You can also search current listings in St. Petersburg and find a plethora of information on the communities that surround us.
If you are interested in selling your Dolphin Cay condominium or know someone interested in purchasing a home in Dolphin Cay or the communities around us, my local expertise of the surrounding market can provide an exceptional advantage to your success. Through highly customized marketing, an energetic work ethic and unequalled customer service, I would love to show you how Eagan Luxury Real Estate can make a difference. Contact me at any time or you can visit my website at www.EaganLuxury.com.
All the best,