Port Royal is nearly on par with last year with regard to a number of closed sales. In 2013 by this point, we had 27 sales whereas this year there have been 28 closed sales. There are close to 20% less homes on the market with 5 pending sold vs. 2 in 2013.
2013
47 Active, 1 Pending with Contingencies, 1 Pending, 27 Sold.
2014
40 Active, 2 Pending with Contingencies, 3 Pending, 28 Sold.
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The best on water per sq ft purchase in Port Royal so far this year was 3999 Rum Row. Built-in 2000 with nearly 8,000 sq ft and 98' of water frontage sold for $5,750,000. That's $734 a sq ft.
Another notable sale was 605 Galleon Drive. With 6,300 sq ft. and 100' of water frontage, this newer 2011 built home sold for $931 an sq ft. A good value considering new/newer homes are selling for $1,200+ a sq ft at this point.
The highest nonbeachfront sale this year was 1100 Spyglass Lane. With 200' ft of west facing water frontage, this renovated 6,000 sq ft. estate sold for $17,127,000 which equates to $2,852 a sq ft.
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If you're considering a purchase or sale in Port Royal and would like to discuss the market in more depth give us a call, we would like to hear from you.
Scott Pearson GRI, CRS