Singer Island – 1st Quarter 2014 Market Update

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Keeping a finger on the pulse of the market is critical when looking to buy or sell your home.” The Walker Real Estate Group brings their customer base “Just the Facts” enabling them to make knowledgeable decisions with regard to the real estate world around us…”

2014 real estate sales for Singer Island are off to a great start.  There were 52 condominium re-sales on Singer Island in the first quarter of 2014; although the transactions remained relatively constant with the same period in 2013, the sales volume increased 11%.  The cold northern winter and great Florida sunshine have been major contributors to the increased sales activity.

Let’s recap the 1st quarter in condominium re-sales on Singer Island and the comparison with the same period in 2013:

  • Approximately sixty percent (60%) of the sales (31) were below $500K; in 2013, seventy-six percent (76%)of the sales were below $500K.
  • The average Days-on-Market (DOM) for these sales continue to drop, down to 162 (approximately 5 ½ months); in 2013 DOM averaged 265 days (approximately 9 months).
  • The highest re-sale this quarter was Ocean’s Edge 1801 at $2,950,000 ($622/SF).
  • Condo inventory ended the quarter at 173 units; relatively unchanged.
  • There were only two short sales in this period.
  • Price per square foot of the older condos (built 1969-1989) ended the quarter at $245; and the price per square foot of the newer condos (built 2003-2008) finished at $540.  This represents a10% increase in sales value for both categories of condos from this period last year.  (This does not represent “developer sales”, such as the Ritz Carlton Residences.)

CLICK HERE: Singer Island 4TH Quarter 2013 Market Update

CLICK HERE: Singer Island December 2013 Market Update

Coming to America2014 1st qtr newltr

According to the international Migration Study recently released by UniGroup Relocation, the United States experienced an influx of people from international locations in 2013, with more household goods coming to the U.S. than from moves leaving the U.S.

For the first time in four years, there were more moves from China to the U.S. than moves from the U.S. to China.  In the Asia Pacific region, China, Singapore and India saw the most activity from the U.S.

The UniGroup companies move more than 260,000 families each year.  The international study, which UniGroup has released since 2010, includes moves to the U.S. from nations abroad and from the U.S. to other countries.

Michael Stoll, economist, professor and chair of the Department of Public Policy at the University of California says, “The U.S. only saw a moving deficit to two of the countries on the top destination and origin lists, demonstrating the U.S. economy’s international strength.”

The United Kingdom is the top country of origin for moves to the United States, as it has been for seven out of the past eight years.  Several Western European countries, including Germany, the United Kingdom, France and Switzerland, continue to top the list of destinations for the U.S. residents moving abroad.  For the first time Malaysia made the list as a top destination country for U.S. citizens.

The Walker Real Estate Group keeps an eye on the pulse of the market and informs its customers of the trends so they can make better decisions whether it’s buying, seller or just renting their Singer Island property. We are the Number One source for “What’s Happening” on the island!

2014 will be another excellent year for the Walker Real Estate Group; as the #1 Sales Team on Singer Island, our transaction volume for the 1st quarter has outpaced 2013. Providing our customers a true concierge experience has been a major factor in our success. Trust, integrity and knowledge of the market is our number one priority.

Call US today for a free confidential interview!

For more information on specific condominium sales activity contact Jeannie at 561-889-6734 or email her at [email protected].

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