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There were no pendings nor sales recorded in September. There are 23 active listings currently, 13 in Boca and 10 in Bella. There is little activity in our market. There have been 24 price reductions in the current 23 active listings, several of them a multitude of times. There were three new listings in Vivante during September, they are 9542 (1,915sf) listed at $440,000, 9727 (1,698sf) at $420,000 and 8935 (2,338sf) at $699,900.
In addition to the new buyers’ and sellers’ forms that became obligatory in August, sellers must, from 1st October, complete a detailed Flood Disclosure form. This is now required for single family homes, condominiums and vacant lots zoned for residential development. Although it must be delivered to a buyer prior to closing, I suggest that it should be part of the listing forms sellers complete at the outset. Current active listings also fall into this category.
The condominium market in general has been seriously affected by expected increases in insurance premiums post the recent hurricanes as well as new costs associated with regulations incorporated in Florida’s SB 4-D structural integrity law that was passed on 26th May, 2022. SB 4-D will likely hit condo owners harder than the designers expected. There seems to be little to no current interest in Tallahassee to help out – could that be because a sizeable portion of condo owners live out of state and have no vote here?
