St. Thomas Square has two distinct classification of condos: Plaza and Villas.
The Plaza units are located on the second and third levels above the retail shops main level of the building. The Villas are located in five buildings each having up to fourteen units
St. Thomas Square Plaza Sales
The Plaza has seen much activity in listings and sales of units in 2015 and is continuing into 2016. There has been nine units sold in the last six months compared to only three sold from 1/1/15 to 7/31/15.
Currently there are three units that all went under contract in January. That is a 400% increase over the previous six months sales of three units. Unit 1204C is a 305 square foot efficiency. The last price listed was $49,000. It went under contract on 1/23/16 and the projected closing date is 3/15/16. Unit 1303B is an 840 square foot 1BR 1BA and its last price was $84,900. It went under contract on 1/1/16 with a projected closing on 2/15/16. Unit 1304 is a 623 square foot studio last priced at $61,000. It went under contact on 1/8/16 and the projected close date is 2/15/16.
The average sale has been $101.03 per square foot. Throwing out the outliers, the highest and lowest, it brings the average sale per square foot to $99.72. The range of sales per square foot is $87.78 to $123.39.
Currently there are only two active listings in the Plaza with Unit 1301A coming on the market soon.
Unit 1305B is a furnished 623 square foot studio offered at $87,000. Ceramic tile flooring, fresh paint, and a large bathroom with double vanity makes this unit vacation ready for you and/or renters.
Unit 1306A is a 769 square foot 1BR 1BA unit recently remodeled with laminate wood floors. It has new cherry kitchen cabinets and new countertop. New stainless steel appliances are included. Bathroom vanity is also cherry. It is unfurnished and offered at $89,900.
St. Thomas Square Villa Sales
While sales of Plaza units are brisk, only one villa sale occurred in 2015. Villa 405 was offered for sale on 8/15/14, went under contract on 12/13/14, and closed on 1/23/15 for $61,800. Compare that to twelve Plaza unit sold in 2015.
In 2014 six villas sold. The sold price per square foot was from $75.64 to $130, with an average sale price of 104.38 per square foot. The range of sales per square foot was $88.24 to $130.
In 2016, Villa 203 (short sale) is under contract and was last listed at $134,900. Villas 314, 401, and 511 are currently on the market. They are all two bedroom units ranging from $135,000 to $159,000.
Villa 401 is a lagoon front 2BR 2BA 1500 square foot condo. See fish jumping in the lagoon, Osprey diving and catching their fish dinner with their talons, ducks, pelicans, and more. You can see the boat dock from your patio. It is offered at $135,000.
Villa 314 is a lagoon front 2BR 2BA 1000 square foot condo. See boats, waverunners, kayaks, and paddleboards. The lagoon attracts many different birds and other wildlife. Occasionally, dolphin are seen right from your own balcony. It is offered at $159,000.
Villa 511 is a pond front 2BR 2.5BA 1322 square foot condo. The pond has two fountains and attracts birds and turtles. This unit is close to the pool. It is offered at $159,000.
St. Thomas Square Real Estate Report Summary
The Plaza is seeing the most activity at St. Thomas Square but Villas are now coming on the market.
Units with updated kitchens and bathrooms, freshly painted, and well decorated are most in demand. They also sell faster and for top market prices.
For a free list of available condos to purchase, visit St Thomas Condos for sale.
To find out what your condo is worth in the current market call Scott 850-329-5910. I am a St. Thomas Square expert and I live there as well.