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The February 2021 Preferred Client Newsletter will review Active Listings and Calendar Year (“CY”) 2019 – 2020 comparative Sales results for Condominium (“Condo”), Townhome (“TH”) and Single Family Home (“SFH”) listings in Clearwater Beach, Island Estates and Sand Key, which are as follows:

Active Listings, December 31, 2020
Clearwater Beach        Island Estates         Sand Key          Totals
Condo               47                        26                        17                    90          
TH                  5                         1                          0                      6        
SFH                16                        6                         10                   32         
Totals             68                       33                        27                   128       

Closed Sales, January 1, 2019 – December 31, 2019
Clearwater Beach       Island Estates       Sand Key        Totals
Condo           130                       113                     158                401         
TH           18                         12                        8                   38     
SFH           36                         33                        52                121      
Totals         184                       158                     218                560        

Closed Sales, January 1, 2020 – December 31, 2020
Clearwater Beach         Island Estates         Sand Key       Totals
Condo          140                         96                      218                  454      
TH             22                          10                          7                    39   
SFH             57                          37                       50                   144   
Totals          219                       143                        275                    637

Inventory was 128 units at December 31, 2020, down 119 units and 48% from 247 units at December 31, 2019. Clearwater Beach Condos were down 19 units for 29%, THs down 5 units for 50% and SFHs down 20 units for 56%. Island Estates was down 25 units for 43%, with Condos down 10 units for 28%, THs down 2 units for 67% and SFHs down 13 units for 68%. Sand Key was down 50 units for 65%, with Condos down 46 units for 73%, THs down 2 units and SFHs down 2 units for 17%. Pura Vida was finally completed and its 8 Active and 10 Sold Listings and the removal of JW Marriott’s 20 preconstruction listings do not materially impact this tremendous run off of inventory, in all 3 communities and in all property classes. Our current market has not had such a limited inventory in the past 20 years I have spent in this market.

Overall sales were up 77 units for 14%¸ from 560 to 637. Condo sales are strong, up 10 units for 8%
on Clearwater Beach and Sand Key up 60 units for 38% but down 17 units for 15% on Island Estates. TH sales were up 1 unit for 3%, driven by Clearwater Beach up 4 units for 22% but down on Island Estates for 2 units for 17% and down 1 unit for 13% on Sand Key. SFH sales were up 23 units for 19%, led by Clearwater Beach at 21 units for 58% and Island Estates with 4 units for 12% while Sand Key was slightly down.

Inventory is 2.4 months based upon our 2020 sales rate, down from 5.3 months. Overall inventory has dropped from 322 units at year end 2018, to 247 units in 2019, to 128 units in 2020. The reductions total 194 units for 60%. We have lost well over half our inventory in the past 2 years. It has created an extraordinary Seller’s market. If you would like an update, please feel free to call any time.
Paul Gibson
Paul Gibson
Realtor
25 Causeway Boulevard Suite 101 Clearwater Beach FL 33767