HARBOR CONDOS

The luxurious Harbor Condos of Admirals Cove are two-story buildings with a single residence on each floor and four residences to a building. All second floor homes include a private elevator. Harbor Condos boast views of either lush golf greens or water, and most include docks accommodating vessels up to 34 feet. Harbor Condos range in size from approximately 2,160 to 2,600 square feet.

Q4 Summary: Harbor Condos

Transaction volume was down -50% YOY for the fourth quarter of 2022. This marked a drop from 8 sales in Q4 2021 to four sales in Q4 2022.

Total sales value was down -27%, declining from $12.5M in Q4 of 2021 to $9M in Q4 of 2022. PPSF was up +45% in Q4 YOY, increasing from $790 PPSF in Q4 2021 to $1,142 in Q4 2022.

Transactions

Harbor Condos: Transactions

2022 closed out the year with 16 Harbor Condo transactions. Transactions were down -51% in 2022. This was down significantly from the two preceding years, but was on par with pre-Covid transaction levels.

Harbor Condos: Total Sales Value

Total sales value for Harbor Condos was just above $35M in 2022.

Total sales value on the Harbor Condo asset class was flat YOY. This was the only property type in Admirals Cove that did not see a decline in sales value YOY.

Harbor Condos: Price Per Square Foot

Price per square foot on Harbor Condos was up +103% YOY, rising from $544 in 2021 to $1,103 in 2022.