Vanderbilt Beach Market Review

Vanderbilt Beach Single Family

There are currently 25 Active Single Family homes and 25 have sold within the last year

Average Active List Price: $1,787,429.00

Average List Price/Square Foot: $ 578,87

Average List Price in Past Year: $1,252,236.00

Average Sale Price in the Past Year: $1,094,862.00

Average Sale Price/Square Foot/Past Year: $374.59

Average Cumulative Days on Market: 175

Average SP/LP Ratio: 89.19%

With over half of the single family sales in the last year in Vanderbilt being over $1,150,000, this market starting to see the higher end inventory disappear.  Along the same lines, lots or tear down homes in this area are even harder to come by.  Look for an increase in new construction to start in the upcoming year.

Vanderbilt Beach Condominiums- Bay Side

There are currently 47 Active Bay Side Condo Listings and 63 have sold within the last year

Average Active List Price: $640,687.00

Average List Price/Square Foot: $ 397.14

Average List Price in Past Year: $503,405.00

Average Sale Price in the Past Year: $472,437.00

Average Sale Price/Square Foot in the Past Year: $291.98

Average Days on Market: 209

Average SP/LP Ratio: 93.43%

2 Bedroom Bay Side Condominiums

Average Active List Price: $495,185.00

Average List Price/Square Foot: $368.20

Average List Price in Past Year: $420,677.00

Average Sale Price in the Past Year: $390,283.00

Average Sale Price/Square Foot in the Past Year: $282.05

Average Days on Market:237

Average SP/LP Ratio: 92.84%

Two bedroom condominiums units make up the majority of the inventory on the bayside in Vanderbilt Beach.  This year has been no exception.  With almost 70% of the sold bayside units being 2 bedrooms or less, finding that perfect unit with unobstructed bay views, is becoming increasingly challenging.

 

3 Bedroom Plus Bay Side Condominiums

Average Active List Price: $967,647.00

Average List Price/Square Foot:  $444.09

Average List Price in Past Year: $642,377.00

Average Sale Price in the Past Year: $607,858.00

Average Sale Price/Square Foot in the Past Year: $315.36

Average Days on Market: 212

Average SP/LP Ratio: 94.34%

 

Vanderbilt Beach Condominiums- Gulf Front

There are currently 29 Active Gulf Front Condo Listings and 58 have sold within the last year

Average Active List Price: $1,300,338.00

Average List Price/Square Foot: $598.97

Average List Price in Past Year: $2,142,179.00

Average Sale Price in the Past Year: $2,087,267.00

Average Sale Price/Square Foot/Past Year: $639.87

Average Cumulative Days on Market: 179

Average SP/LP Ratio: 95.69%

The sales in Moraya Bay, which have totaled 26 units in the last year, skew the overall Vanderbilt Beachfront numbers because the average sales price in Moraya Bay this year is just over $3.5 million.  The building is rapidly losing its available inventory so in the coming months and year, the overall numbers along the Vanderbilt beachfront will drop simply because of the lack of available $3.5 million units. 

Two Bedroom Condominiums

Average Active List Price: $313,979.00

Average List Price/Square Foot: $199.64

Average List Price in Past Year: $259,722.00

Average Sale Price in the Past Year: $247,628.00

Average Sale Price/Square Foot in the Past Year: $159.44

Average Days on Market: 200

Average SP/LP Ratio: 94.74%

Three Bedroom Plus Condominiums

Average Active List Price: $1,314,571

Average List Price/Square Foot: $644.51

Average List Price in Past Year: $1,335,167.00

Average Sale Price in the Past Year: $1,237,375.00

Average Sale Price/Square Foot in the Past Year: $561.84

Average Days on Market: 110

Average SP/LP Ratio: 93.68%

Three bedroom plus units continue to be the hardest product to find in the Vanderbilt area, especially if they have an unobstructed Gulf view and are not near the public beach access points. Le Dauphin is one of the hardest beachfront buildings to find available units for sale.  Its owners enjoy membership at the La Playa Hotel and have use of all of its amenities.

Moraya Bay Condominiums

Average Active List Price: $3,525,000.00

Average List Price/Square Foot: $782.24

Average List Price in Past Year: $3,637,692.00

Average Sale Price in the Past Year: $3,596,731.00

Average Sale Price/Square Foot in the Past Year: $833.94

Average Cumulative Days on Market: 172

Average SP/LP Ratio: 98.77%