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Luxury Condo Market Getting Top Price for Long Term Leases

by Tom Smith Team

Clearwater is America's #1 beach again according to Trip Advisor so it comes as no surprise that the long-term rental market here on the beach is very hot right now.  The area is very desirable for long term tenants as well as buyers.  From time to time I will help a client find a tenant and negotiate top price.  I just finished leasing the following luxury condo's:

$3900 a month located at 85 Belleview Blvd #603

$3600 a month located at 1430 Gulf Blvd #806

$3600 a month located at 16 Winston Dr

$3000 a month located at 1430 Gulf Blvd #802

$3000 a month located at 1540 Gulf Blvd #1203

If you are looking for an agent to lease your luxury home or condo give me a call today.  I will help find you a quality tenant at the top price.

Kristin Vincelli
Realtor
727-686-1596

The Tom Smith Team Over $100 Million Sold!

March Update Clearwater Beach State of The Market for Condo's

by Tom Smith Team

  The sugar fine white sand is a trademark of this fabulous beach. Perfect for a day in the sun. You might even spot a dolphin or two playing on the horizon.

 

It has been an amazing start to the year in the Clearwater Beach area.  The weather has been fantastic, and the energy here feels incredible.  In the condo market we see average sale prices jumping to peak levels in February.  Active listings and monthly inventory are trending at slightly higher than average levels as well.  Thankfully, Clearwater Beach was just voted #1 Beach in America again by trip advisor.  Optimism about Florida remains high.  No state income tax and nasty weather up North may continue to push sales and maybe even prices higher.

The average sale price in February was $692,580 up from $672,000 in January and $663,000 in December. February was the highest average sale price in the last 12 months.  Total sales in February was 40 which is in line with average for the last 12 months.  In January we saw inventory clean out a bit with 115 recorded condo sales.  Currently there is approximately 9 months of inventory on the market which is slightly higher than average for the last 12 months.  September of 2018 had the highest number of condos on the market with 12 months.  There are 37 active listings going into March in this price range.  In February there was 39 and one year ago there was 49 which was the highest in the last 12 months.

On a side note, since 2016 absorption rates for Pinellas County have been the highest from March to September.  High absorption rates indicate homes are selling the quickest and point to a sellers’ market.  We hope this trend continues this year in the beach condo market.   

We have narrowed our research down to the markets that matter most to you as a client.  Clearwater Beach real estate has a different dynamic to it.  Therefore, we believed it best to separate our market from the rest of Pinellas county to get a clearer picture.  We looked at activity for condominiums from $500,000 to $900,000 in select zip codes.

For more information or to set up a listing appointment please contact Tom or Kristin today.
Tom 727-776-3375
Kristin 727-686-1596

Tom Smith Team 40 years of real estate experience and over $100,000,000 sold!

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Contact Information

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Tom Smith Team
Coastal Properties Group International
423 Mandalay Ave., #102
Clearwater Beach FL 33767
(727) 776-3375