By Dan Reichard, Realtor®, Smith and Associates Real Estate
On Tierra Verde we have more than 400 single family homes with water frontage. Total square footage of heated and cooled living space in those homes ranges from 1,510 square feet to 13,711 square feet. The top quartile represents the largest waterfront single family homes with 4,324 square feet and greater. The following charts illustrate the sales history of Tierra Verde’s luxury on-water single family homes of that top quartile with living space equal to or larger than 4,324 square feet.
In the run-up to the financial crisis last decade we saw some spectacular prices, but the count of homes that sold at those prices was very low. Conversely, after the peak of the financial crisis in 2010 through 2013 the number of comparable homes sold increased substantially but their prices fell.
Of course all real estate is unique, so a closer analysis would be required to accurately estimate current value of your home if it is among the top quartile of single family homes. But today the data indicates we are in a more stable and balanced real estate market for homes comparable to yours. If throughout this year you consider buying or selling real estate I hope you will consider contacting me to discuss how we can work together to achieve your goals.