A quick Hibiscus condo market update
The condo market overall has experience very brisk sales compared to last year. You can see all the condo market data at our sister web site www.VivianFoate.com.
Looking at the data for condo sales in Panama City Beach you will see for example, that in October of 2012, 78 units sold for $14,081,700 and an average of $161.00 per square foot. Whereas, in October of 2013 124 units sold for $28,664,771, which is twice the amount of 2012 and the average price per square foot in October of 2013 was $190.00. That is a significant increase as well.
Where does the Hibiscus condo market fit in? We feel higher prices on the beach will eventually translate to higher prices in Hibiscus By The Bay as well. The groundwork for higher prices in Hibiscus By The Bay has already been laid. There are few Hibiscus condos for sale. Low inventory will eventually translate to higher prices as long as there is demand for the Hibiscus condo product and the Hibiscus Lifestyle.
The recent improvements like the walkway around the marina and the new sidewalk being built on Wildwood Rd. will certainly help the attractiveness of what is already a very desirable place to purchase and to Live the GOOD life on the water. Live happy! 🙂
The Hibiscus condo market solds since January 1, 2013.
In order of most recent first.
- 6504 BRIDGE WATER WAY #103, HIBISCUS BY THE BAY 2 2/0 $205,000 – Furnished, no boat slip or garage
- 6500 BRIDGE WATER WAY #406, HIBISCUS BY THE BAY 3 2/1 $335,000 – Furnished, large boat slip, no garage
- 6504 BRIDGE WATER WAY #601, HIBISCUS BY THE BAY 3 2/1 $367,500 – Unfurnished, boat slip, garage, jet ski slip, jet ski
- 6504 BRIDGE WATER WAY #1103, HIBISCUS BY THE BAY 2 2/0 $194,000 – Unfurnished, no boat slip or garage
- 6504 BRIDGE WATER WAY #703, HIBISCUS BY THE BAY 2 2/0 $212,000 – Unfurnished, no boat slip, included a garage
- 6504 BRIDGE WATER WAY #303, HIBISCUS BY THE BAY 2 2/0 $199,000 – Unfurnished, no boat slip, included garage
If you would like to talk about the Hibiscus condo market or the Gulf front condo market please don’t hesitate to contact us. We’ll be happy to try and answer your questions.
Please note that while we do live in Hibiscus By The Bay full time and are THE agents who have had the most Hibiscus condo transactions in the last four years by far, we also represent buyers and sellers of Gulf front condos as well.
Would you like to list your condo? Call us we’ll be happy to discuss it with you!
Looking to purchase a Hibiscus By The Bay condo? Contact us, we’ll be happy to represent you!
Thanks and have a GREAT day!
Live the GOOD life on the water. Live happy! 🙂
Vivian and Mike Foate