Singer Island Condos for Sale
Singer Island Condos
If you have been watching the Singer Island real estate market here in Florida you will soon realize that prices have bottomed out and are climbing back up as inventory levels continue to fall. Gone are the spectacular deals and the motivated sellers once found when looking for Singer Island condos for sale. We now are seeing frantic buyers and unmotivated sellers. The condos on Singer Island are no different. Even though many are second home purchases and buyers don’t have to buy right now your choices have become limited. What we see left are the condo units that are not the prime cut but more of a choice cut. Finding a direct oceanfront condo not only on Singer Island but even Jupiter or Juno is quite difficult. Sure you will find some units at the back of the building or in a back building but a direct oceanfront condo is far and few. The least expensive direct oceanfront unit in Singer Island built after 2000 will set you back $1.2 million. That same unit two years ago could have been bought for $900,000. Who says the market is bad? Uninformed or misinformed people. Remember real estate is local in nature. We are talking building to building in some instances. See the newest Singer Island condos for sale below.
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Condos on Singer Island
What should you do to become an informed buyer? Start looking at recent comps in the building which can be found on my website. Don’t hold Trulia and Zillow as the Bible. See what is for sale and how few units are for sale. When you see a huge price difference between condos there is a good reason for that. The prime condo sellers are asking top dollar because they have a limited commodity and they can sit and wait for a buyer. Compare the total sales last year to the inventory for sale this year. You will notice in most cases there were a dozen sales in a building last year and two condos for sale this year. If they sold 12 last year and have just 2 for sale now what does that say? Look around at other places, see what condos in Jupiter are for sale. Maybe you may find a place in Jupiter. Spread out and see the different areas for sale. All of the places are just minutes away from one another. Each area is different and offers different condos which have a different feel and are priced differently.
Drive down to Singer Island and look at the different buildings. You can tell which ones are the expensive ones and which ones aren’t just by looking at the exteriors. The older building will have catwalks and just look dated. The newer buildings have the modern crisp architecture. Newer condos will set you back $400 per foot and go up from there while older buildings will run about $200 per square ft for the same view. Views are the expensive equation and after all, that is why you are buying it on the ocean. You want to look at the ocean so expect to pay a large premium for that view. Remember Singer Island condos have some of the best views you will find.
More Singer Island Condos
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Another question that frequently comes up is the condo fees and what do they cover. They usually cover building insurance which is a large part of the monthly fee. Remember even though you are splitting expenses you still have club rooms, fitness centers , doormen that all are being paid for out of your monthly condo fee. Think if you had all those amenities including lawn, pool etc what you would pay as a single family home owner. Taxes are not included in your condo fees and are above that monthly fee. If I can assist you with questions about any condos on Singer Island or Jupiter feel free to contact me.
