Sunbird Condos July 2018 Market Report

By
Real Estate Broker/Owner with Nautical Properties 3305354

Since 1/1/2015, a total of 70 units have sold in the Sunbird to date (2015, 20 units; 2016, 16; 2017, 19; 2018, 15). The turnover of ownership is 6.5% per annum. This year's pace is on track to sell three more units than last year. Four are currently under contract.

This year condos are averaging $173,686. The low was $155,900 and the high was $197,500. The average sold to original list price ratio was 96.89%. The average days on the market was 53 and 73% of the units sold in 60 days or less. Total volume sold is $2,605,300 which is $222,500 above the total of last year's sales with five months remaining in the year. At this pace, sales volume by year's end would be $3,821,102.

The average price grew by $24,761 from 2017 to 2018 for a 16% year over year increase!And the days on the market dropped 16% as well.

I sold 710W 2/28/18 for $173K which comes to $284.07/sq ft (4.5 months later another one sold for the same amount). Only one other unit sold for more this year at $285.29/sq ft., amounting to only one half of one percent difference.

This is a phenomenal year. The primary advantage Sunbird has over most complexes is its entry-level price point along with its great condition and low HOA fees.

See Sunbird Condos for Sale

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Scott Pope

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