On the surface, there isn’t much change in the luxury market, with 1,101 properties on the market compared to 1,092 the month before. However, the number of single family homes went up by 12% and the number of condos went down by 12%.

Does this mean that luxury condos were selling well in March? Not necessarily. There were only 8 condo closings, and only 7 condos went under contract. So why are there 62 less condos on the market? Apparently many listings either expired or were withdrawn and have not come back on the market. When the market changes they may be back. All of the closings were between $1,000,000 and $2,000,000, except for one between $2,000,000 and $3,000,000 – which was new construction that went under contract in the first half of 2004.

Looking at what’s available:

In single family homes, the highest priced home listed in Pinellas County is $17,900,000 which is a 17,145 sq ft home on a waterfront parcel of 1.5 acres. The highest priced home in Hillsborough County (excluding an $11,000,000 ranch property with a small house) is $8,900,000 which is a 10,771 sq ft home on a golfcourse parcel of 4 acres.

For condos, the highest prices are for condos yet to be built: $6,300,000 for a 6,150 sq ft condo in Tampa’s Trump Tower and $5,945,900 for a 6,213 sq ft condo condo in St. Pete’s Grand Bohemian. Existing condos top out at $5,995,000 for a 5,860 sq ft condo in Tampa’s The Bellamy on Bayshore and $4,500,000 for a 4,683 sq ft gulf front condo on Sand Key.