See the prices of Hibiscus sold condo units so far in 2014.
See the posted prices and what was included in the sales below. The pricing trends are encouraging. The most recent solds show a nice increase in prices for the 2 bedroom and 3 bedroom Hibiscus sold condo units.
As you can see, unit 205 in Tower 1 sold for $225,000.00, with no extras on 5/30/2014. The last 2 bedroom to sell, Unit 704 in Tower 2 sold for $225,000.00 without any extras. That was just 3 weeks after Unit 903 in Tower 1 closed for $209,000.00. If you ignore the sale of Unit 903 you can see there is a very nice price increase. Buyers are willing to pay around $225,000.00 for the base 2 bedroom Hibiscus condo units. That is a nice price increase! Especially when compared to prices of just a year or two ago.
We wrote in a prior post that it may take a little while for prices to rebound and it is. Currently the Hibiscus inventory is VERY low. There are just very few Hibiscus condo units on the market. See all the Hibiscus condos listed for sale in the MLS here. Low inventory can lead to higher prices. If the market works correctly and provided there is a demand for Hibiscus condos (meaning people want to own here), then buyers who want to buy here may have to pay higher prices. Its simply supply and demand economics.
Looking at the last two bedroom Hibiscus condo unit that closed, the take away could be that the 2 bedroom units are valued at approximately $156.00 per square foot with no garage or boat slip. That is a nice improvement! 🙂
Prices for 3 bedroom units have also been trending upward. The most recent 3 bedroom sale puts the price of a base 3 bedroom unit at around $325,000.00. That is a VERY positive price increase as well!
Looking at the last three bedroom Hibiscus condo unit that closed, if you subtract $30,000 for the value of the garage, the take away could be that the 3 bedrooms are valued at approximately $158.00 per square foot with no garage or boat slip. That is a nice improvement! 🙂
2 bedroom Hibiscus sold condo units
3 bedroom Hibiscus sold condo units
If you are considering selling your Hibiscus condo unit we would love to learn more about you and discuss your needs. Please don’t hesitate to contact us!
If you are interested in buying, at this time you may have to wait a little while. There just isn’t much for sale right now! Contact us so we can get you set up to get an announcement via email or cell phone when a Hibiscus condo unit that meets your needs comes on the market!
Thanks and have a HAPPY day!
Mike and Vivian Foate