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There were six new listings in May, they are 8936 (2,398sf) listed at $735,000, 9449 (1,698sf) at $500,000, 9621 (1,915sf) at $550,000, 9742 (1,915sf) at $565,000, 8526 (2,398sf) at $825,000 and 9723 (2,106sf) at $625,000. The prices per square foot range of these is $287 to $344 with an average of $304. Closings during May totalled five, they were 9823 (1,698sf) which closed at $450,000, 9849 (1,698sf) at $465,000, 9432 (1,915sf) at $497,500, 9937 (1,698sf) at $460,000 and 8926 (2,398sf) at $715,000. The prices per square foot range was $260 to $298, with an average of $273. There are two end units in the Bella harbour units currently listed, both are priced over $300psf. They should command a premium and 8526 particularly so as it’s at the north end of 85 and is not overlooked by anyone. There are three contracts pending today, they are 9638 (1,485sf) listed at $370,000, expected to close on 3rd June, 9843 (1,698sf) listed at $500,000 and closing on 20th June and 8946 (2,429sf) listed at $799,900, slated to close on 18th July.
So, we’ve had some end of season activity, which is not unusual, and prices have generally remained at the higher levels established in 2021. I believe activity will slow as we go into the Summer, but (and I always say this) there are buyers about and they have to be serious at this time of year: the inventory, at twelve, is hardly significant, so their choices are limited. Vivante is looking better and, if we decide to sell either or both of the non-crescent sections of Trevi, our COA’s financial position will be pleasantly enhanced.
