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ANNUAL MARKET REVIEW FOR 2019
Gulf Shore Boulevard
Bring Your Highest Expectations™
Bring Your Highest Expectations™
John R. Wood Properties, Bring Your Highest Expectations.
“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS, Copyright 2020, and the proprietary compilation of that data by John R. Wood Properties, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data.”
GULF SHORE BOULEVARD REPORT
Annual Number of Closed Sales
Overall annual sales volume increased by 3.4% when compared to 2018, from 235 to 243 closed sales. Beachfront units were up 5.2%, from 173 to 182. This reflects the highest annual sales count posted since 2015. Bayfront units were down by one sale, from 62 to 61. Annual sales for bayfront units have only varied slightly over the past few years.
Annual Average Sales Price - Closed Sales
After modest decreases over 2017 and 2018, the average sales price for beachfront condominiums increased 12.9% in 2019, from $1,456,854 to $1,644,727. Bayfront units posted an increase of 5%, from $644,918 to $676,750.
Annual Average Price Per Square Foot - Closed Sales
The average price per square foot increased 6.2% for beachfront condominiums, from $641 to $681, while the average price per square foot for bayfront condominiums rose 2.8%, from $402 to $413.
SummaryThe Gulf Shore Boulevard market has shown positive movement over the past year with steady increases in overall sales and pricing. The most recent market peak, in terms of the number of total sales, was 2013 when 291 sales were reported. Over the following three years, annual sales waned somewhat, until 2017 when they once again started to climb. Current conditions reflect that of the overall Southwest Florida market, where buyer demand is on the increase.
Buildings on the beach and bay vary considerably in age, condition and amenities and the averages referenced in this report provide a broad view of market trends in this segment of the waterfront market. When contemplating a sale or purchase in this or any other neighborhood, buyers and sellers are advised to seek the services of a John R. Wood Properties sales professional who can provide the most current and accurate market data.
John R. Wood Properties, Bring Your Highest Expectations.
ANNUAL NUMBER OF CLOSED SALES
Beachfront Condominiums
Bayfront Condominiums
Bring Your Highest Expectations™
“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS, Copyright 2020, and the proprietary compilation of that data by John R. Wood Properties, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data.”
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John R. Wood Properties, Bring Your Highest Expectations.
Bring Your Highest Expectations™
Beachfront Condominiums
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ANNUAL AVERAGE SALES PRICE - CLOSED SALES
“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS, Copyright 2020, and the proprietary compilation of that data by John R. Wood Properties, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data.”
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John R. Wood Properties, Bring Your Highest Expectations.
Bring Your Highest Expectations™
Beachfront Condominiums
Bayfront Condominiums
ANNUAL AVERAGE PRICE PER SQUARE FOOT - CLOSED SALES
“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS, Copyright 2020, and the proprietary compilation of that data by John R. Wood Properties, its employees, and professional statisticians hired by the Wood firm. Accuracy of the information is not guaranteed; it should be independently verified if any person intends to engage in a transaction, relying on such data.”
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