Singer Island Market Update – November 2015

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

PBBoatParadeNow that we are in the final month of 2015 and the holidays upon us, one has to ask – “Where did the year go?” It has been another good year for real estate on Singer Island. Condo sales volume has increased 25% over last year and the average condo square foot price is up 11%. That being said, November saw a significant slowdown in sales with a 43% decrease compared to the monthly average for the year. Let’s take a closer look at the results in oceanfront condominium re-sales through November 2015 on Singer Island:

  • There have been 185 condo re-sales on Singer Island through November 2015; an eight percent increase over this time last year.
  • Year-to-date 52% of the condo re-sales were under $500K, with 18% being in the $1 million plus range.
  • The average Days-On-Market (DOM) for the condos through November continued a downward trend to 158 (approx. 5.3 months).
  • There was one short sale in November.
  • The highest re-sale in November was Ritz 2003A for $3,500,000 (a Walker Real Estate transaction); and the least expensive sale was Villa Towers 527 at $237,000.
  • As of the end of November, condo inventory increased 11% to 182 units.
  • Price per square foot of the older condos (built 1969-1989) remained steady at $280; and the price per square foot of the newer condos (built 2003-2008) also remained steady at $591 through November 2015.

Vista Blue Now Underway on Singer Island!

Vita Blue front-of-buildingConstruction has begun on the first new condominium to be built on Singer Island since 2008. VistaBlue Singer Island, a 19-story luxury boutique oceanfront condominium will be located on the south side of the The Resort-Marriott.

The 58 residences are arranged four per floor on levels 4-18, with two penthouses sweeping 180-degree views from the 19th floor. Purchaser are able to combine more than one residence should they require additional living space.

The three and four-bedroom floor plans range from 3,368 SF to 4,131 with the two penthouses boasting more than 7,396 SF of conditioned living space.

Contemporary design plans and direct-access private elevators distinguish these sophisticated residences. Residences will be beautifully finished with owner’s choice of Pohggenpohl cabinetry, Miele appliances, and porcelain tile. Ten-foot high ceilings, floor to ceiling sliding glass doors and oversized balconies with clear, tempered glass rails will highlight expansive views of the Palm Beach Inlet, Ocean Reef Park, the Intracoastal Waterway and the northern Lake Worth Estuary provide breathtaking water views.

The building’s first three levels feature exceptional lobby amenities along with ample, enclosed private Vista Blue map 1parking spaces. VistaBlue Singer Island residents will enjoy resort-style amenities such as a gated, staffed entry and 24/7 concierge services. Owners will have full usage of the impressive boardroom, clubroom and game room as well as a state-of-the-art fitness center. The social room, with sweeping views of the ocean, pool, and spa, includes a catering kitchen for entertaining.

Prices will start from $1.6 million with delivery of the first residences planned for late 2017.

For further details and floor plans, please contact the Walker Real Estate Group at [email protected].

The Walker Real Estate Group Market Update provides detailed information regarding condos newly listed, pending and sold on Singer Island for the current month.

Enjoy this information prepared just for you!

CALL us today if you are thinking about selling or buying! Your referral is our best compliment!

2015 has become another great year for the Walker Real Estate Group with over $41 million in transactions booked to-date. As the #1 Sales Team on Singer Island, our goal is to provide our customers a true concierge experience in all their real estate transactions. Trust, integrity and knowledge of the market are our number one priority.

For more information on specific condominium sales activity contact Jeannie at 561-889-6734 or email her at [email protected].  See All Realtor listings on our website: www.WalkerRealEstateGroup.com.

About the Author

wreg

Leave a Reply

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