As we complete our 5th month of 2011, sales continue to outpace those in 2010. Condo sales on Singer Island increased 73 percent over the same period last year, selling 88 units verse 51. A significant portion of this activity is the 18 condo/hotel units sold at the Resort this year; compared with only two sales in 2010. As list prices on condos decrease, the list to sale ratio has gone from 87% in 2010 to 89% this year. The price per square foot for the older condominiums (built 1973-1989) has decreased from an average of $219/SF to $209/SF; while the newer condos (2000-2008) has increased from $349/SF to $360/SF. This has been a positive trend for the first half of 2011; it will be worth seeing if the trend continues through the summer.
Improvements to Singer Island continue with the opening of another restaurant at the Ocean Mall, Two Drunken Goats. State Road A1A is progressing well with all of the curbing and sidewalks being completed along the west side of the road and the installation of street lighting at the northern end of the island.
We are still hoping for a reversal of the Palm Beach County commissioners’ vote to stop the Singer Island breakwater project. There is a re-vote scheduled for June 28th, and anyone who can be present to show support will be welcomed. If you have not done so already, please sign the petition. We need your help to “Save the Beach”.
Please go to the following website and sign the petition… Breakwater REVOTE! http://www.thepetitionsite.com/1/pbc-breakwater-revote/
Go to Singer Island Market Update for detailed information regarding condos currently listed, pending and sold on Singer Island including recent price reductions, new listings and homes that have come back on the market. We hope you find this information to be useful. Call us today if you know of someone looking to buy or sell on Singer Island. Your referral is our greatest compliment.
For more information on specific condominium sales activity contact Jeannie at 561-889-6734 or email her at [email protected]