Real Estate Market Report for July 2011 Pinellas County| Treasure Island | Sunset Vista

Sunset Vistas here in Treasure Island

You might have seen my Real Estate Market Report for all of Pinellas County earlier this week.

The Real Estate business is very local and statistics from the National Association of Realtors about the Florida real estate market or statistics from the Pinellas Realtor organization for Pinellas County do not help us if we are looking for a specific subdivision, in this case let's take a look at Sunset Vistas, a waterfront Condotel in Treasure Island.

This Year, 10 units have sold in Sunset Vistas, 4 are currently under contract and 10 are active listings.

The average sold price was $ 265,555.

The lowes sold price was $214,000 for 203 N (lowest floor closer to street but still with a water view)

and the highest sold price was $360,000 for 506 W (higher floor, direct Gulf front unit, unobstructed views)

Both units have the same floor plan, same square footage and same furniture BUT the rental income in the West Wing is higher.

5 of the sold units were distressed sales and 2 of the pending condos are also distressed sales. NO distressed sales in the 10 acitve listings.

In October 2006 the highest sales ever in Sunset Vistas Treasure Island was condo 501 W. It sold for $715,000. Compare this to recently sold unit 506 W and you can see that prices have been cut in half over the last 5 years.

Like I always say, I do not have a crystal ball but I have a feeling that the prices at Sunset Vistas here in Treasure Island have bottomed out. Will the sales prices now JUMP up again? I thing it will take a some time to see an increase in prices again but as long as we are not going down any further here in Sunset Vistas I think owners and new investors are fine and Sunset Vistas is a good investment property to buy.

Please keep in mind, Real Estate is local, subdivisions like Sereno, Silver Sands, Lands End, Mansions by the sea etc have completely different numbers and history. If you need a market report for YOUR neighborhood please call or e mail anytime.

Real Estate Market Report for July 2011 Pinellas County, Treasure Island, Sunset Vistas.