Dolphin Cay Condo Market Update September 2016

RE: Dolphin Cay Real Estate Update as of 9/30/16 – Courtesy of Deborah Eagan, Realtor

Welcome back to all of our friends and neighbors who are returning to Dolphin Cay!

Dolphin Cay condominium sales are remaining relatively steady quarter-to-quarter for 2016.   Year to date we have sold 20 units with 25 having been sold during the first 9-months of 2015.  While this is indicates a slower year, the lower numbers are driven more by a lack of inventory rather than a lack of demand.  Interest in Dolphin Cay remains strong. The 4th quarter looks as if we will see brisk sales with 7 condominiums available, 3 of those being residences in which I already have under contract with pricing well above the $300 per square foot mark.  They were all spectacular updated units.


More good news on the condominium sales front is that the average price per square foot continues to grow. As of September 30, 2016, 12-month average was $269.32 versus $249.84 for the 12-months ending in September 30, 2015.  This reflects almost an 8% increase.  Additionally, the graph below tracks the average price per sq. ft. for Dolphin Cay.


The graph below on the right provides a comparison of the average sales price per square foot of each of the condominium buildings for the same 12-month periods.  Every condominium building has experienced growth in their average sales price per square foot.  Low volumes by individual units has created some of the large swings.


I’ve also recently completed an updated analysis of the condominium sales for each of the communities along the Pinellas Bayway and Tierra Verde.   Dolphin Cay performs very well.  Of the 32 communities analyzed for the 12-months ending September 30, 2016, Dolphin Cay was:

  • #1 – Total Units sold = 25
  • #1 – Total Dollars Sold = $12,231,650
  • #5 – Average Sales Price = $489,266

The table below provides a snapshot of the condominium developments with 2 or more sales with an average sale price of more than $450,000.  Those condominiums with higher average sales prices or high prices per square foot are generally on Tierra Verde and include docks with access to open water.  Dolphin Cay and Bacopa Bay are the only two developments not on Tierra Verde that make the Top 7.


If you are interested in selling your Dolphin Cay condominium or know someone interested in purchasing one, my local expertise of Dolphin Cay and the surrounding market can provide an exceptional advantage to your success.  While I personally live in Dolphin Cay, I also specialize in sales from downtown to the beaches. Through highly customized marketing, an energetic work ethic and unequaled customer service, I would love to show you how Eagan Luxury Real Estate can make a difference.  Contact me at any time or you can visit my new website at www.EaganLuxury.com.

You can follow my Facebook business page at www.facebook.com/EaganLuxury for local events, insightful articles and more information about the communities around us.

All the best.