Singer Island – 3rd Quarter 2013 Market Update

wreg For Buyers , For Sellers , Marketing Reports , singer island Leave a Comment

Keeping your 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…”

As we move into the fourth quarter of 2013, we see continual improvement in the real estate market.  As one can gather from the chart below, summer tends to slow before activity picks up at the beginning of season.  The car carriers are back and the parking lots are beginning to fill. WREG Qtrly4 NewsLtr_chart

Re-sales through September exceeded those for the same period in 2012 by 24 percent.  With the exception of May and August, 2013 monthly sales outpaced their respective months in 2012.

To re-cap the first nine months of 2013:

  • There were 169 condo re-sales on Singer Island through September 2013; three quarters of the sales (107) were below $600K.
  • The average Days-on-Market (DOM) for these sales is down to 202 (little less than 7 months).
  • The highest re-sale year-to-date was Ritz 2402A at $3,275,000 ($829/SF).
  • As of the end of September, condo inventory bumped up to 170 units from 150 last month, a sign more sellers are getting back into the market.
  • Price per square foot of the older condos (built 1969-1989) remained relatively steady at $237; and the price per square foot of the newer condos (built 2003-2008) increased to $504.

CLICK HERE: Singer Island 3rd Quarter 2013 Market Update

Beware of Rental Scam

It has come to our attention that there is a new rental scam trying to gain hold on Singer Island.  The scammer takes a rental listing, normally placed by owner on one of the real estate websites, and re-lists it on another site.  The victim finds the re-listed rental and calls the number.  All looks good, the victim sends the deposit and advanced rent to a PO Box (sometimes overseas) and gets prepared to travel to Florida.  Once they get here, no one is aware of the rental transaction, and many times the unit is not even being offered for rent.  They are now stuck in Florida with no accommodations and lost deposit.  Some scammers will even provide a fake concierge number for the victim to call to confirm the reservation.

The best and easiest way to avoid this scam is to work through a reputable realtor, both to list your rental and to reserve a rental for the coming season.

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!

2013 has been an excellent year, thus far, for the Walker Real Estate Group; as the #1 Sales Team on Singer Island, our transaction volume for the first nine months has been over $25 million.  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].

Recipients of the 2012 Ritz Carlton Residences© Singer Island Power Broker Award

Director – Master Broker Forum (Jeannie)

About the Author


Leave a Reply

Your email address will not be published. Required fields are marked *